Igneo Infrastructure Partners acquires Indigo Generation

New York, November 11, 2025: Igneo Infrastructure Partners (‘Igneo’), a global infrastructure investment manager with US$22.9 billion in assets under management, today announced that it has entered into an agreement to acquire Indigo Generation LLC (‘Indigo’), owner of a 136 MW gas-fired, simple-cycle electric peaking generation station located in North Palm Springs, California.

The project is being acquired from Diamond Generating LLC. Indigo represents Igneo’s inaugural investment in thermal electricity generation infrastructure in the United States, leveraging its deep experience investing in the renewable power sector including through it’s existing portfolio companies Terra-Gen and Soltage.

"Peaking assets in the United States play a valuable role in providing grid reliability and firm dispatchable generation. As a seasoned energy investor, Igneo sees a role for these assets particularly in leveraging their established interconnection, in alignment with our longer-term energy transition thesis,” said John DiMarco, Managing Director at Igneo. "Indigo is ideally situated to capitalize on these trends while providing essential capacity to the local load area. We believe that there is a strong opportunity for value-add investment with the asset at this site.”

Indigo is Igneo’s third investment from its dedicated North American infrastructure strategy, following previous acquisitions in the digital and transportation sectors. Since 2020, Igneo has invested close to US$3.9 billion of capital in the United States. Transaction terms were not disclosed. The acquisition is subject to customary conditions and approvals.

Igneo was advised by Vinson & Elkins LLP on the transaction and National Bank Financial Inc. which acted as its financial advisor.

‍About Igneo Infrastructure Partners

Igneo is an autonomous investment team in the First Sentier Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation / logistics sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.

Igneo manages US$22.9bn worth of assets (as at 30 September 2025) on behalf of more than 200 investors around the world.

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In Hong Kong, this press release is issued by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission in Hong Kong. In Singapore, this press release is issued by First Sentier Investors (Singapore) whose company registration number is 196900420D. This press release has not been reviewed by the Monetary Authority of Singapore.

First Sentier Investors, FSSA Investment Managers, Stewart Investors, Realindex Investments and Igneo Infrastructure Partners are the business names of First Sentier Investors (Hong Kong) Limited. First Sentier Investors (registration number 53236800B), FSSA Investment Managers (registration number 53314080C), Stewart Investors (registration number 53310114W), Realindex Investments (registration number 53472532E) and Igneo Infrastructure Partners (registration number 53447928J) are the business divisions of First Sentier Investors (Singapore).