Igneo completes investment in Pathway Power

New York (NY) and San Diego (CA), 4 June 2026: Igneo Infrastructure Partners (Igneo), a global infrastructure investment manager with US$24.5 billion of assets under management¹, has today completed its preferred equity investment in Pathway Power LCC (Pathway Power), a U.S. utility-scale renewable and storage development platform.

The transaction supports Igneo’s North American strategy, representing entry into a renewable generation development platform with a differentiated hybrid solar and storage pipeline across the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) markets.

Founded in 2022, Pathway Power has assembled a portfolio of more than 1GW of projects expected to begin construction in 2026-2027, supported by a broader pipeline of approximately 1,000MW of early-stage hybrid interconnection positions in SPP and MISO power markets. Two key seed assets expected to begin operations over the next two years include Greenridge, a 150MW solar plus 150MW 4-hour battery storage project located in Texas, and Foxtrot, a 150 MW standalone 4-hour battery storage project located in Arkansas.²

John DiMarco, Managing Director at Igneo said: “We are excited to partner with Pathway Power to advance a high-quality pipeline of utility-scale renewable and storage projects in markets with compelling demand profiles. The Pathway Power team has built an impressive company, and we have strong confidence in their highly experienced management team to deliver on this opportunity. We look forward to working closely together to build a leading platform”.

Jam Attari, Managing Partner and Founder at Power Pathway said: “We are thrilled to welcome Igneo as our investor and strategic partner as we accelerate our utility-scale renewable energy and storage portfolio. Igneo's deep expertise and long-term capital commitment make them an ideal partner for our next phase of growth. With a shared commitment to projects built with domestic steel and American labor, we are well-positioned to deliver critical clean energy capacity to high-demand markets”.

Igneo was advised by Vinson & Elkins LLP on the transaction and Pathway Power was advised by Foley & Lardner LLP and PEI Global Partners.

¹ As at 31 March 2026.

² Subject to Memorandum of Understanding (MOU) arrangements. Greenridge is an investment grade-backed Power Purchase Agreement under an MOU targeting a 2028 commercial operation date (COD); Foxtrot has an investment grade-backed tolling arrangement under an MOU targeting COD in 2027.

‍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$24.5bn worth of assets as at 31 March 2026 on behalf of more than 200 investors around the world.

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