Specialist infrastructure manager Pioneer Point Partners has invested €120m on behalf of its first sustainable infrastructure fund.
The manager’s Pioneer Infrastructure Partners fund’s maiden investment involves a €60m capital commitment to the Stream BioEnergy biogas platform in Ireland and the same amount of capital investment into the Altano Energy renewables platform in Spain.
Pioneer Point said the initial investment in Stream will be used in part to acquire Tully I, a 3MW operational AD plant, owned by a group of investors including funds managed by Foresight Group. The initial investment in Altano will be used to acquire 214MW of solar photovoltaics, including two ready-to-build projects in the Castilla La Mancha region with generating capacity of 64MW, and a further 150MW project in Valladolid.
The Pioneer Infrastructure Partners fund was launched in 2020 with a €500m and 15%+ IRR target and had a €150m first close in December 2020.
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