Pioneer Point Partners LLP (“Pioneer”), the sustainable infrastructure investment firm, is pleased to announce the first two investments from its maiden institutional fund, Pioneer Infrastructure Partners SCSp (“the Fund”). The Fund is committing €120 million to a biogas platform in Ireland and a renewables platform in Spain.
The Fund is committing €60 million to Stream BioEnergy Limited (“Stream”), a leading developer and operator of Anaerobic Digestion (“AD”) plants in Northern Ireland and the Republic of Ireland. The initial investment 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 plant, which is located in Ballymena, Northern Ireland, has been both developed and operated by Stream. Pioneer is backing Stream to create Ireland’s leading biogas company.
The Fund is also committing a further €60 million to the newly created Altano Energy (“Altano”), a platform company with the strategic objective of building a large scale, institutional renewable portfolio in Spain. The initial investment will be used to acquire c. 214MW of solar PV, 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 projects were developed by Progressum Energy Developments and will be constructed by Bester Group. Altano is putting in place an experienced management team with the ambition to create a leading, diversified, renewable company in Spain.
The capital is being deployed in line with the Fund’s strategy and Pioneer’s successful track record in the lower mid-market, value-add sustainable infrastructure strategy across Western Europe. The Fund was launched in 2020 with a €500m and 15%+ IRR target and had a first close in December 2020.
None of the statements herein is an offer to sell securities of the Fund in the United States. Securities of the Fund are offered and sold in the United States only on a private placement basis pursuant to an exemption from registration under the Securities Act of 1933.