LONDON, UK: Pantheon Infrastructure Plc (PINT), the listed global infrastructure fund, has committed to invest approximately €52.7 million in Asterion Industrial Partners’ interest in National Broadband Ireland (NBI), an Irish fibre to the premises (FTTP) network developer and operator.
National Broadband Ireland (NBI) was selected by the Irish Department for Environment, Climate and Communications to support the country’s National Broadband Plan, a programme that seeks to connect every business, public and residential premises in the country to high-speed broadband by 2027.
National Broadband Ireland (NBI) is responsible for passing and connecting approximately 560,000 premises in rural areas stretching across 96% of the land mass of Ireland, serving around 23% of the population and 69% of the country’s farms, making this the largest infrastructural project in rural Ireland since rural electrification.
Deployment is split into 227 Development Areas with the rollout occurring in all counties simultaneously.
The Irish government is providing subsidies alongside the capital committed by shareholders and revenue generated to support the design, procurement, construction and maintenance of the network under a 25-year project agreement. The project is expected to help bridge the digital divide between rural and urban areas in Ireland.
The investment is in line with PINT’s strategy of building a diversified portfolio of infrastructure assets benefitting from structural growth drivers. Investment in digital infrastructure is essential to ensure everyone benefits from the deployment of high-speed networks.
PINT will invest through Asterion Industrial Partners, a leading European infrastructure investment manager specialising in the telecoms, energy & utilities, and mobility sectors, with Granahan McCourt retaining its current interest in NBI.
Richard Sem, Partner at Pantheon, PINT’s investment manager, commented: “We are delighted to announce this latest transaction in a high-quality fibre asset alongside our long-standing partner Asterion. NBI’s commitment to providing high-speed broadband to underserved areas in Ireland makes it a compelling investment proposition which has a positive impact on local communities.”