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Client type
Assets
Infrastructure assets are owned by investors but belong to the communities they serve. It is critical they are built and managed for the long term.
Not all assets are held within strategies registered for sale in EMEA, US, Australia, New Zealand, Asia and Japan. Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell the same. All securities mentioned herein may or may not form part of the holdings of Igneo Infrastructure Partners’ portfolios at a certain point in time, and the holdings may change over time.
Locales
Sector
Company
Investment status
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Adelaide Airport
Adelaide Airport served almost eight million passengers in FY23 as Australia’s fifth largest airport by passenger volume. Adelaide Airport occupies a land size of 800 hectares, with a combined international / domestic terminal which was recently expanded, and two runways. It has a diversified revenue base comprising aeronautical, retail, ground transport, and property revenue streams. The airport is the key domestic and international gateway to Adelaide and South Australia, and is the largest single site employment precinct in the State. The airport operates under a light-handed, dual-till regulatory regime. Adelaide Airport also owns Parafield Airport, Adelaide’s second airport and is used for general aviation purposes.
- Location: Australia
- Sector: Airports
- Risk Classification: volume
- Initial Acquisition date: May 2015
- Governance: joint
- Website: www.adelaideairport.com.au/
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Anglian Water Group
AWG is the owner and operator of a regulated water and waste water utility serving 2.6m homes and over 125k businesses in the east of England, the UK’s driest region.
Under the ownership of Igneo, AWG revenues and earnings grew by 46% and 24% respectively.
In this period the business was established as an industry leader in operational performance with huge reductions in leakage incidents and supply interruptions and also achieved and maintained top three customer service rankings. AWG was the first utility in the world to launch sustainability linked bonds which included explicit interim carbon reduction targets and the business was recognised as an ESG champions with a formal pathway to Net-Zero by 2030.
Igneo funds exited AWG in 2022 to a third party investor which has retained Igneo as the manager of this stake.
- Location: Europe
- Sector: Water utility
- Risk Classification: regulated
- Initial Acquisition date: Aug 2009
- Divested date: Mar 2022
- Governance: co-lead
- Website: www.awg.com/
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Atmos Renewables
Atmos Renewables is an Australian utility-scale renewables platform that comprises interests in nine operational wind farms across three Australian states (Victoria, South Australia and Tasmania) and six operational solar farms in Queensland, New South Wales and Victoria totaling a gross capacity of 1,727 megawatts (1,022MW economic capacity reflecting ownership stakes). Atmos is a leading Australian renewables developer, owner and operator with a diversified portfolio of assets by technology and geography.
- Location: Australia
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Mar 2021
- Governance: sole
- Website: atmosrenewables.com.au/
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Auto-Estradas do Douro Litoral
AEDL has operated the Douro Litoral motorway Concession since the contract was signed with the Portuguese State in December 2007.
The Concession contract is valid for a 27-year period until December 2034, and its purpose is the design, project management, construction, financing, maintenance, and operation of three toll motorways: the A32, A41 and A43.
AEDL's motorways are located in the northern region of Portugal, primarily in the districts of Porto and Aveiro largely encompassing Porto's Metropolitan Area. Their influence extending south to Coimbra, north to Braga and east to Vila Real, benefiting from good network connections with other motorways.
- Location: Europe
- Sector: Transport
- Risk Classification: volume
- Initial Acquisition date: Oct 2024
- Governance: joint
- Website: www.aedl-ae.com/en
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Brisbane Airport
Brisbane Airport served over 23 million passengers in FY19 as Australia’s third largest airport by passenger volume. Operating curfew free 24 hours a day, seven days a week, Brisbane Airport has two major terminals and two runways. Brisbane Airport is the largest capital city airport in Australia by land size occupying 2,700 hectares. It has a diversified revenue base comprising aeronautical, retail, ground transport, and property revenue streams. Brisbane Airport is the key domestic and international gateway to Brisbane and Queensland. The airport operates under a light-handed, dual-till regulatory regime.
- Location: Australia
- Sector: Airports
- Risk Classification: volume
- Initial Acquisition date: May 2015
- Governance: joint
- Website: www.bne.com.au/
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Caruna
Caruna Oy is Finland's largest electricity distribution system operator, with its operations extending across the South, Southwest, and West regions, as well as the city of Joensuu and its surroundings. Caruna is integral to Finland's energy infrastructure, representing 20% of the nation's electricity distribution. Its network spans 87,300km and serves a substantial customer base of 700,000.
Under Igneo’s ownership, Caruna became distinguished by its industry-leading annual investment programme, which allocates up to €300 million to enhance the weatherproofing of its network and increase its resilience, exceeding the Finnish government's weatherproofing target of 75% for 2023. This ambitious investment programme has seen Caruna inject €1.4 billion over the past six years into its network, representing a 40% increase compared to the management plan set out in 2014. Caruna has accelerated its investment in the network to further improve the security of supply and the quality of service it provides to customers.
Under our stewardship, Caruna successfully restructured its procurement strategy, leading to a 5% reduction in operational expenditure per annum. Caruna's commitment to safety and operational excellence is reflected in the significant improvements across all key performance indicators. The company also optimised its capital structure, raising an additional €1.1 billion in debt, which has been strategically implemented to facilitate rapid investment in network expansion. With Igneo’s support, Caruna has established itself as a vital component of Finland’s energy infrastructure.
- Location: Europe
- Sector: Electricity Distribution
- Risk Classification: regulated
- Initial Acquisition date: Mar 2014
- Divested date: Mar 2021
- Governance: lead
- Website: caruna.fi/en
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Clarus
Clarus, previously known as Firstgas, owns and operates gas transmission and distribution networks in the North Island of New Zealand. Its networks consist of a high gas transmission system from New Plymouth spanning the North Island with a total length of over 2,500 km, a gas distribution system which services more than 60,000 customers, primarily in central and northern regions of the North Island with a total length of over 4,800 km and a electricity distribution system for the Gisborne and Wairoa regions including 3,950 km of lines servicing over 25,800 customers. Clarus is also the owner and operator of the Ahuroa gas storage facility, which is contracted under long-term fixed price arrangements; and of Rockgas LPG distribution business, the largest LPG retailer in New Zealand.
- Location: New Zealand
- Sector: Gas Distribution
- Risk Classification: regulated
- Initial Acquisition date: Apr 2016
- Governance: sole
- Website: clarus.co.nz
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coNEXA
coNEXA Infrastructure Partners is an integrated water utility comprising five portfolio assets – Rosehill Recycled Water Scheme (‘AquaNet’), Willunga Basin Water Company (‘WBWC’), Lightsview ReWater (‘LV’), Kooragang Industrial Water Scheme (‘KIWS’) and Permeate Partners (‘Permeate’). AquaNet is an unregulated water utility providing recycled water to industrial users, via Sydney Water, in the Greater Parramatta to the Olympic Peninsula region of Sydney. WBWC is an unregulated rural water utility providing low cost recycled water for irrigation to the McLaren Vale wine region, south of Adelaide. LV is a regulated urban water utility providing mandated recycled water to the Lightsview housing development 8km north of the Adelaide CBD. KIWS is an unregulated water utility in the Kooragang Island, Newcastle supplying high-grade industrial water to Orica. Permeate is a specialist in the design, delivery and operation of water and wastewater infrastructure. coNEXA is the water platform for GDIF to invest in water infrastructure in Australia and New Zealand.
- Location: Australia
- Sector: Water utility
- Risk Classification: contracted
- Initial Acquisition date: Dec 2016
- Governance: sole
- Website: wua.com.au/
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Coriance
Located throughout France and Belgium, Coriance operates a portfolio of 41 district heating concessions, delivering heat to residential, social and commercial buildings. Coriance serves a broad customer base across public and private sectors, including housing managers, schools, universities, hospitals, municipal buildings and industrial sites. Most of its revenues are generated from long-term heat contracts which typically have a duration of 20-30 years.
Under our ownership, Coriance instilled a robust health and safety culture through its health and safety action plan. This plan decreased accident frequency rates by 80% since the acquisition. As part of our drive to encourage strong governance, Coriance’s operational structure was improved through several digitisation initiatives that enhanced performance, sales effectiveness and customer experience. It also successfully drove sustainable savings across energy purchasing, G&A and personnel to improve long-term profitability.
Over the investment period, Coriance’s win rates quadrupled, and market share rose from 5% to 8%. This resulted from the organisation's strategic restructuring, rigorous internal tender processes, and divestment of non-core services segments.
In 2019, Coriance expanded into the industrial heating market by acquiring the Commentry biomass cogeneration plant to support the local food processing industry. Coriance is now considered the greenest player in the French district heating market, resulting from 69% of its fuel mix deriving from renewable sources.
- Location: Europe
- Sector: District Heating
- Risk Classification: contracted
- Initial Acquisition date: Aug 2016
- Divested date: May 2023
- Governance: sole
- Website: www.groupe-coriance.fr/
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CPE Renewable Investment Unit Trust
CPE Renewable Investment Unit Trust develop, own and operate multi-utility assets at residential, commercial and industrial buildings. CPERI has partnered with a project developer, CleanPeak Energy, who is responsible for delivering the development projects through construction and to operation. The portfolio includes four operational multi-utility sites, as well as 52 operational or under construction rooftop solar, utility-scale solar and battery assets for commercial and industrial clients. Once construction is complete, the portfolio will have 117.2MW of solar capacity, 81.2MWh of battery capacity and c. 139MW of thermal capacity. The portfolio benefits from long-term energy sale contracts with a range of diverse commercial, industrial and residential customers.
- Location: Australia
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Apr 2019
- Governance: joint
- Website: cleanpeakenergy.com.au/
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DAH Group
The DAH Group is an integrated energy company that generates gas, electricity and heat from renewable energy sources. DAH operates 22 biogas plants located primarily in Eastern Germany making it one of the largest plant operators in the country.
- Location: Europe
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Nov 2023
- Governance: sole
- Website: www.dah-gruppe.de/start/
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Digita
Digita is the owner and operator of the national broadcast network of Finland comprising 36 main stations and 152 sub and link stations. It is the only network that gives effective coverage of the whole population of Finland.
Under Igneo ownership the business invested over €40m in a network upgrade programme resulting in industry leading technology. A new management team was put in place with great focus on commercial growth and customer satisfaction and service.
New service model initiated refocussing from linear broadcasting to digital services such as data centre, Internet of Things and mobile telephony offerings.
Igneo exited Digita in 2018 to a specialist digital infrastructure investment manager.
- Location: Europe
- Sector: Telecommunications
- Risk Classification: contracted
- Initial Acquisition date: Sep 2012
- Divested date: Mar 2018
- Governance: sole
- Website: www.digita.fi/en/
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Electricity North West
North West Electricity Networks (Jersey) Limited (ENW) is the monopoly electricity distribution network for Northwest England, a region covering an area from rural Cumbria to urban Manchester. ENW is a significant entity within the UK’s energy infrastructure, representing 9% of the UK’s electricity distribution network, which spans 57,630km and serves five million customers.
With our help, ENW was formed after being carved out from United Utilities and the subsequent acquisition and integration of United Utilities Electricity Services Limited in 2010. This established ENW as an efficient, standalone business structure ready to meet the demands of its expansive customer base.
We worked with the management team to ensure the business proactively embraced new technologies within the energy sector . ENW has been recognised as a leading network operator, receiving the highest Network Innovation Allowance as a proportion of allowed revenue in the RIIO-ED1 regulatory framework. Along with operational excellence, ENW has also demonstrated a solid commitment to sustainability. The company has achieved and maintained the maximum 5-star score for three consecutive years, up to 2018, in the Global Real Estate Sustainability Benchmark.
- Location: Europe
- Sector: Electricity Distribution
- Risk Classification: regulated
- Initial Acquisition date: Sep 2009
- Divested date: Dec 2019
- Governance: joint
- Website: www.enwl.co.uk
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Enfinium
enfinium is the largest pure-play energy-from-waste portfolio in the UK, with a total waste processing capacity of 2.3 million tonnes per annum and a total power generation capacity of 265 megawatts. The portfolio includes four operational plants as well as two currently in construction.
- Location: Europe
- Sector: Waste
- Risk Classification: contracted
- Initial Acquisition date: Feb 2021
- Governance: sole
- Website: enfinium.co.uk/
- Case study:
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Evos
Evos is an independent liquid energy and chemical storage company operating a network of 8 tank terminals with a combined storage capacity of 6.3 million cbm. The company provides critical infrastructure in key trading hubs in Europe covering the ARA region, Germany’s largest port Hamburg and the Mediterranean. Evos offers safe handling of a range of liquid bulk products, and is a frontrunner in the storage of sustainable fuels and supporting the energy transition.
- Location: Europe
- Sector: Bulk Liquid Storage
- Risk Classification: contracted
- Initial Acquisition date: Sep 2019
- Governance: sole
- Website: evos.eu/
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Ferngas
Ferngas (FS Deutsche Gastransport Holding GmbH) owns and operates a regulated gas network in Southern and Eastern Germany. The business was formed in 2017 following the merger between two gas distribution networks, acquired separately by EDIF I in 2013 and 2014. The business’s 3,063km network of high-pressure pipelines supplies 62TWh of natural gas and biogas annually to more than 60 downstream network operators and 120 direct end-consumers. It is the only combined network operator in Germany to operate both a long-distance pipeline and a distribution network, resulting in its reputation as an innovative and reliable service provider.
Aided by us, Ferngas repeatedly achieved sector-leading operation performance. The ongoing capex programmes, most notably the EGL 442 pipeline redevelopment programme, resulted in significant regulated asset base growth for the company. Beyond company growth, core commitments to environmental, health and safety standards have resulted in zero accidents or leakage incidents in the last five years.
Ferngas has become Germany’s only combined gas transmission and distribution grid operator, strengthening its regulatory status. During Igneo’s investment, Ferngas increased biogas connections and contributed to the first nationwide hydrogen infrastructure project, cementing itself as a critical player in the German gas distribution market.
- Location: Europe
- Sector: Gas Distribution
- Risk Classification: regulated
- Initial Acquisition date: Nov 2013
- Divested date: Jun 2021
- Governance: sole
- Website: www.ferngas.co.uk/
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Finerge
Finerge is Portugal’s second-largest renewable energy producer and for over 20 years has worked to provide access to more sustainable energy sources to the world. Finerge operates 69 Wind Farms and 17 PV solar plants located in more than 46 municipalities across Portugal and 3 provinces in Spain. Day and night, more than 770 turbines harness the energy of the wind, and thousands of photovoltaic modules that collect energy from the sun, transforming it into clean electricity at a rate of 3.200Gwh. All this means that more than 1,661 k tons of CO2 emissions are avoided.
- Location: Europe
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Nov 2015
- Governance: sole
- Website: www.finerge.pt/en/
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Integrated Waste Services
Integrated Waste Services is one of the largest post-collections waste businesses in South Australia comprising landfill, primary processing and transfer stations. It processes approximately 450,000t of waste from council and commercial and industrial customers.
Integrated Waste Services is the waste platform for GDIF to access future opportunities in the Australian waste sector.
- Location: Australia
- Sector: Waste
- Risk Classification: contracted
- Initial Acquisition date: Jan 2022
- Governance: sole
- Website: www.iwsgroup.com.au/
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International Parking Group
International Parking Group specialises in the ownership and operation of hospital car parks with operations at eight sites in Sydney, Brisbane and Perth, comprising over 11,000 bays. The largest site, the Queen Elizabeth II Medical Car Park in Perth, has 5,300 parking spaces.
- Location: Australia
- Sector: Transport
- Risk Classification: volume
- Initial Acquisition date: Feb 2003
- Governance: joint
- Website: internationalparkinggroup.com.au/
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MVV Energie
MVV Energie is a German-based integrated utility company supplying industrial, commercial and private household customers. Present across the whole energy value chain, MVV is active across generation, distribution, trading and supply in power, district heating, gas and water. In addition to its regulated networks, the Company has a strong focus on renewable energy generation, including energy-from-waste, biomass and bio-methane plants in addition to onshore wind farms. MVV holds a top decile ESG rating by Institutional Shareholder Services (ISS) and is a multiple award winner for its efforts in the German energy transition.
- Location: Europe
- Sector: Integrated Utility
- Risk Classification: regulated
- Initial Acquisition date: Jun 2020
- Governance: joint
- Website: www.mvv.de/en
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Navigator Terminals
Navigator Terminals is an independent bulk liquid storage provider in the United Kingdom consisting of four operating petroleum and chemical storage terminals located in London (Thames), Teesside (Seal Sands and North Tees) and Barry (Windmill) with a combined total capacity of c.1.3 million cubic metres.
- Location: Europe
- Sector: Bulk Liquid Storage
- Risk Classification: contracted
- Initial Acquisition date: Oct 2016
- Governance: lead
- Website: www.navigatorterminals.com/
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Nordion Energi
Nordion Energi was formed through the integration of three acquisitions; Swedegas (2018), Weum Gas (2018) and Falbygdens Energi (2021). The activities of the company include the ownership and operation of the sole gas transmission network in Sweden, located in the south-western part of the country (Swedegas), the country’s largest gas distribution network, mainly in the Malmo metropolitan area (Weum Gas), as well as the electricity distribution network of Falkoping (Falbygdens Energi). Nordion Energi has been formed to drive the transition towards 100% green energy in Sweden, and it is a leader in the development of biogas and hydrogen related infrastructure in Sweden.
- Location: Europe
- Sector: Gas Distribution and Transmission
- Risk Classification: regulated
- Initial Acquisition date: Apr 2018
- Governance: sole
- Website: nordionenergi.se/
- Case study:
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OLT Offshore LNG Toscana
OLT owns and operates the FSRU Toscana, a floating LNG regasification terminal. The FSRU was converted from an LNG tanker and is anchored off the Italian coast of Livorno. The terminal has an annual regasification capacity of 3.75 bcm (approx. 4% of domestic demand) and is connected to the Italian gas transmission network via a subsea pipeline. The FSRU Toscana is a core infrastructure asset for the importation of LNG to the Italian energy system and as such operates under a long term concession and is regulated by ARERA, the Italian Regulatory Authority for Energy, Networks and Environment.
- Location: Europe
- Sector: Gas Distribution and Transmission
- Risk Classification: regulated
- Initial Acquisition date: May 2019
- Governance: joint
- Website: www.oltoffshore.it/en/
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Parkia
Parkia is the owner and operator of an international portfolio of off-street carparks in Spain and Andorra managing over 38,000 spaces across 71 different locations.
During the period of Igneo’s ownership, Parkia was an active market consolidator making 21 bolt-on acquisitions in the highly fragmented Spanish car park market. Parkia became the first national car park operator in Spain to offer EV charging facilities at all locations.
The business benefited from increased diversification of the customer base via new commercial partnership agreements with mobility and last-mile logistics providers. In addition increased automation and digitisation allowed Parkia to evolve into a data-driven platform creating a dynamic pricing and flexible service model which allowed more personalised service offerings.
Igneo funds exited Parkia in April 2024 to car park operator Indigo. .
- Location: Europe
- Sector: Transport
- Risk Classification: volume
- Initial Acquisition date: Jun 2016
- Divested date: Apr 2024
- Governance: sole
- Website: parkia.es/
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Patriot Rail
Based in Jacksonville Florida, Patriot Rail operates a portfolio of 32 short line freight railroads encompassing more than 1,260 track miles across 23 states in the United States. In addition to rail freight, Patriot’s operations include other rail-related services (such as railcar storage, transloading, railcar cleaning, scrapping, repair and maintenance, and contract switching). Patriot has a high quality, diversified customer and commodity mix across its portfolio, with a focus on safe and reliable service as a core value.
- Location: North America
- Sector: Rail
- Risk Classification: volume
- Initial Acquisition date: Oct 2019
- Governance: lead
- Website: patriotrail.com/
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Quantem
Quantem is the owner and operator of bulk liquid storage facilities across twelve locations in Australia and New Zealand with total terminal capacity of approximately 605,000 cubic metres. The Company provides storage for products including industrial chemicals, fats and oils petrochemicals and bulk petroleum with the ability to handle hazardous and non-hazardous, and flammable and combustible products. Approximately 70% of revenue is derived from storage services, typically on a take-or-pay basis with the remainder from ancillary services.
- Location: New Zealand Australia
- Sector: Bulk Liquid Storage
- Risk Classification: contracted
- Initial Acquisition date: May 2015
- Governance: joint
- Website: quantem.com.au/
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Reganosa
Reganosa is the owner and operator of Liquified Natural Gas (LNG) regasification facility and gas transmission pipeline in Mugardos in northwest Spain.
Under the stewardship of Igneo, Reganosa was granted TSO status by the Spanish regulator and initiated and maintained an annual sustainability reporting framework.
Igneo drove the implementation of new corporate standards resulting in certifications for ISO 9001, 14001, 18001 and 17025, and also supported the business in expanding its facilities to enable Q-Max vessels to dock at the terminal.
Igneo divested the EDIF I stake in Reganosa in October 2017 to the Japanese trading company, Sojitz.
- Location: Europe
- Sector: Gas Distribution and Transmission
- Risk Classification: regulated
- Initial Acquisition date: Sep 2010
- Divested date: Sep 2016
- Governance: joint
- Website: www.reganosa.com/en/
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Scandlines
Scandlines is the sole operator of the Rodby-Puttgarden (RoPu) and Gedser-Rostock (GeRo) ferry routes, connecting Denmark with Germany. RoPu is the fastest route between Copenhagen and Hamburg and a 120km shorter driving distance than the next viable alternative. GeRo is the fastest route between Copenhagen/Southern Sweden and Berlin, which is 2-3 hours quicker than low-frequency ferries from Sweden.
- Location: Europe
- Sector: Ferries
- Risk Classification: volume
- Initial Acquisition date: Jun 2018
- Governance: lead
- Website: www.scandlines.com/
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Soltage
Soltage is a renewable power producer that develops, owns, operates and manages solar and storage assets across 18 states in the US. Established in 2005, Soltage is a vertically integrated distributed generation platform with in-house project development, design and engineering, finance and asset management / reporting functions.
- Location: North America
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Aug 2023
- Governance: sole
- Website: www.soltage.com/
- Case study:
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Terra-Gen
Terra-Gen, based in California and New York, develops, constructs, owns, and operates utility-scale wind, solar and battery storage throughout the United States. Terra-Gen’s portfolio spans across 32 generating facilities and storage facilities located primarily in California, with additional locations in New York and Texas. The Company operates ~3,300 MW of facilities and has ~4,300 MW pipeline of projects under late-stage development or in construction, with an additional ~4,400 MW in early- to mid- stage development.
- Location: North America
- Sector: Renewable energy
- Risk Classification: contracted
- Initial Acquisition date: Dec 2020
- Governance: joint
- Website: www.terra-gen.com/
- Case study:
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Tuatahi First Fibre
Tuatahi First Fibre Limited operates the second largest fibre-to-the-premises broadband network in New Zealand. The Company’s network spans over 4,200km in the high growth urban areas of the central North Island of New Zealand; the Waikato, Bay of Plenty, Taranaki, Manawatu Whanganui, Hawke’s Bay, Rotorua and Taupo regions of New Zealand. The majority of the network was built as part of the Government-backed Ultra-Fast Broadband initiative launched in 2010. The Company completed its initial network build in December 2019 with the network currently passing c. 267,000 premises and growing.
- Location: New Zealand
- Sector: Telecommunications
- Risk Classification: contracted
- Initial Acquisition date: Sep 2020
- Governance: sole
- Website: tuatahifibre.co.nz/
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US Signal
US Signal Company, LLC is a leading data center and fiber network solutions provider in the United States. The company operates ~9,500 miles of fiber network and nine data centers across multiple US Midwestern states, including Michigan, Indiana, Illinois and Wisconsin.
Network offerings span a range of connectivity products that leverage its owned network (on-net) and third party networks (off-net), creating a range of margin and growth profiles for different offerings. The network business serves ~1,100 customers with a particular focus on telecom & carriers, healthcare, and financial & professional services.
Data Center offerings include a mix of colocation and cloud (private and multi-tenant) solutions, supplemented by products including DRaaS (‘Data Recovery as a Service’) and BaaS (Backup as a Service). The company also provides a range of managed, professional and security services to customers requiring third-party support of their IT operations. The data center and managed IT & security business serves ~630 customers.
- Location: North America
- Sector: Digital
- Risk Classification: contracted
- Initial Acquisition date: Feb 2023
- Governance: sole
- Website: ussignal.com/
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Utilitas
Utilitas is the largest district heating operator and renewable energy producer in Estonia providing heat to 8 cities in Estonia, including Tallinn the capital of Estonia. The company operates 556km of district heating network, providing over 2GWh of heat to 174,000 households across the country. Over 65% of heat and electricity produced is generated from renewable fuels and the company is committed to be carbon neutral by 2030.
- Location: Europe
- Sector: District Heating
- Risk Classification: contracted
- Initial Acquisition date: Nov 2018
- Governance: lead
- Website: www.utilitas.ee/en/
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Waste Management New Zealand
Waste Management New Zealand is New Zealand’s largest resource recovery and waste management services provider with vertically integrated operations across the country. The company is the leading market player in both collections and post-collections segments in New Zealand, with an overall market share of 36%.
The Company operates with over 800 trucks across 70 locations in New Zealand, servicing approximately 130,000 private and commercial collections customers and 50 municipal council contracts and collecting over 2.1 million municipal bins per month. The post-collections segment comprises a strategic nationwide network of 50 owned and/ or operated landfills, material recovery, transfer stations and technical facilities; handling over 1 million tonnes of waste and recycling over 200,000 tonnes. It also owns and operates five of New Zealand’s largest Class 1 landfills and operates two others.
- Location: New Zealand
- Sector: Waste
- Risk Classification: contracted
- Initial Acquisition date: Sep 2022
- Governance: sole
- Website: www.wastemanagement.co.nz/
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Westconnect
Founded in 2010 and headquartered in Essen, Westconnect is a fibre broadband joint venture between Igneo and E.ON SE (E.ON). The Company is a leading integrated full fibre provider comprising fibre broadband operations in the western German federal states of North-Rhine Westphalia, Lower Saxony and Rhineland-Palatinate. The Company operates in regions in which E.ON owns and manages the electricity and gas distribution networks, benefitting from superior customer and municipality access as well as existing ducts and capex synergies.
- Location: Europe
- Sector: Telecommunications
- Risk Classification: volume
- Initial Acquisition date: Oct 2022
- Governance: joint
- Website: www.westconnect.de/
Case studies
Important information
All data sources are independently verified and can be evidenced by Igneo Infrastructure Partners.
This material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.
We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.
To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.
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References to ‘we’, ‘us’ or ‘our’ are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.
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