Home Alternative Investments QuotedData’s morning briefing 23 May 2022

QuotedData’s morning briefing 23 May 2022

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In QuotedData’s morning briefing 23 May 2022:

  • Pantheon Infrastructure (PINT) has invested approximately $46.1m (£37m) in Cartier Energy, a district energy platform in the US. The business is made up of eight district energy systems located across the Northeast, Mid-Atlantic and Midwest and provides diversified energy services such as heat (steam, hot water), cooling (chilled water) and electricity to around 190 buildings across the higher education, healthcare, commercial, manufacturing, hospitality, government, and retail sectors. PINT co-invested through funds managed by Vauban Infrastructure Partners, a leading alternative investment firm.

  • SDCL Energy Efficiency Income (SEIT) has signed an agreement to finance a portfolio of geothermal projects owned by Baseload Capital Sweden AB through a €25m senior debt facility. This will be used to finance the capex of existing and pipeline projects, with an initial expected draw down of up to €6m at closing, to re-finance current operational assets and assets in construction or late-stage development. The facility will be senior secured over all the underlying project cashflows. Meanwhile, SEIT has also signed an agreement to provide a preferred equity investment of $10m in the upcoming Series C financing round of Turntide, a sustainable technology developer. SEIT and Turntide have also signed a Term Sheet regarding the provision of a project financing facility of up to $100m, whereby SEIT will finance the capex of future qualifying energy efficiency projects delivered by Turntide, so that it can deliver infrastructure as a service. In addition to these two investments, SEIT has also completed follow-on investments into existing projects, Onyx, Sparkfund, Tallaght, EVN and Biotown to support the roll-out of new sites as well as providing construction funding.

We also have an acquisition from Bluefield Solar Income and interim results from Schroder Oriental Income.

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