LONDON: Pantheon Infrastructure PLC, the listed global infrastructure fund, has committed to invest approximately £30 million in energy and data centre developer Intersect Power, through a vehicle managed by Climate Adaptive Infrastructure, a US-based infrastructure investor that has raised and managed over $1.3bn in assets.
Intersect, headquartered in California, develops and operates utility-scale and industrial power infrastructure to meet the growing demands and complexity of electrification, digitalisation, and decarbonisation trends. Intersect’s model is built on the co-location of industrial demand with rapid deployment of dedicated gas and renewable power generation for data centre infrastructure and utilities.
Intersect is well-positioned to navigate the evolving trade and regulatory environment in the US, leveraging its scale, domestic-focused procurement and secured financing. As the largest customer of the top manufacturers of solar panels and batteries in the US, the company is well positioned to withstand supply chain issues arising as a result of recent reciprocal tariffs. These strengths align with the emphasis on US supply chains and local investment contained within the recent One Big Beautiful Bill Act.
The investment is expected to be funded through a combination of existing cash reserves and utilisation of the Company’s revolving credit facility.
Richard Sem, Partner at Pantheon, PINT’s investment manager, commented: “Our investment into Intersect Power reflects both the strength of the opportunity and our continued disciplined approach around capital allocation. With greater visibility on near term liquidity and attractive potential returns, we see this as a compelling addition to the portfolio.
“Intersect has established itself as one of the leading players in the US renewable energy mix, with an attractive pipeline of projects that benefit from safe harboured tax credits pre-dating the Inflation Reduction Act.
“This represents the kind of resilient opportunity that can provide both downside protection and long-term growth. We are pleased to be backing a company that is well placed to benefit from the shift towards cleaner energy and the wider changes shaping the global economy.”