REG - Pantheon Infrastrct. - Intersect Power Update

Pantheon InfrastructureAnnouncement

23/12/2025 07:05

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RNS Number : 6377M  Pantheon Infrastructure PLC  23 December 2025

23 December 2025

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This Announcement has been determined to contain inside information

 

PANTHEON INFRASTRUCTURE PLC

Intersect Power Update

Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global
infrastructure fund, is pleased to announce an update in relation to its
investment in Intersect Power ("Intersect").

Further to the announcement on 22 December 2025 by Alphabet Inc. ("Alphabet"),
the parent company of Google, an agreement has been reached for the sale of
Intersect between Alphabet and Intersect's shareholders, TPG Rise Climate,
Climate Adaptive Infrastructure ("CAI") and Greenbelt Capital Partners, for a
cash consideration of $4.75 billion, plus the assumption of debt (the "Sale").

The Sale includes Intersect's pipeline of energy and data centre projects in
development or under construction. Certain operating and development assets
are excluded from the Sale and will continue to be owned and operated by
Intersect's existing shareholders, including CAI and PINT. The quantum and
timing of proceeds from the Sale for PINT will be confirmed in due course.
Based on the terms of the Sale disclosed by Alphabet and the Company's latest
knowledge of Intersect, the Sale is expected to contribute an increase in NAV
of approximately 2.5 pence per share, or 2% of the NAV of 127.7 pence per
share at 30 September 2025.

PINT invested in Intersect as part of a secondary transaction with CAI
announced in September 2025. It is one of the largest renewable platforms in
the US, with a portfolio comprising 2.2GWp of operational solar capacity and
1.4GWh of battery storage, and a development model focused on the co-location
of dedicated gas-fired and renewable power generation to support data centre
and industrial demand. The total amount committed was c.$40 million, or c.£30
million, and the Company used foreign exchange hedging instruments to mitigate
against any material foreign exchange movements since funding the initial
investment.

Achieved within three months of the Company's investment in Intersect, the
Sale is expected to represent PINT's second significant realisation since IPO
and marks a further step in demonstrating the Company's investment strategy to
invest, grow and exit investments benefitting from key infrastructure
tailwinds. The Company intends to provide further details on the Sale in due
course.

 

For further information, contact:

 Pantheon Ventures (UK) LLP        +44 (0) 20 3356 1800

 Investment Manager                pint@pantheon.com (mailto:pint@pantheon.com)

 Richard Sem, Partner

 Ben Perkins, Principal

 Investec Bank plc                 +44 (0) 20 7597 4000

 Corporate Broker

 Tom Skinner (Corporate Broking)

 Lucy Lewis (Corporate Finance)

 Lansons

 Public relations advisor          pint@lansons.com (mailto:pint@lansons.com)

 Lucy Horne                        +44 (0) 79 2146 8515

 Millie Steyn                      +44 (0) 75 9352 7234

Notes to editors

PINT

Pantheon Infrastructure PLC is a closed-ended investment company and an
approved UK Investment Trust, listed on the London Stock Exchange's Main
Market. Its Ordinary Shares trade under the ticker 'PINT'. The independent
Board of Directors of PINT have appointed Pantheon, one of the leading private
markets investment managers globally, as investment manager. PINT aims to
provide exposure to a global, diversified portfolio of high-quality
infrastructure assets through building a portfolio of direct co-investments in
infrastructure assets with strong defensive characteristics, typically
benefitting from contracted cash flows, inflation protection and conservative
leverage profiles.

Further details can be found at www.pantheoninfrastructure.com
(http://www.pantheoninfrastructure.com)

LEI 213800CKJXQX64XMRK69

Pantheon

Pantheon has been at the forefront of private markets investing for more than
40 years, earning a reputation for providing innovative solutions covering the
full lifecycle of investments, from primary fund commitments to co-investments
and secondary purchases, across private equity, real assets and private
credit.

The firm has partnered with more than 740 clients, including institutional
investors of all sizes as well as a growing number of private wealth advisers
and investors, with approximately $82bn in discretionary assets under
management (as of June 30, 2025).

Leveraging its specialized experience and global team of professionals across
Europe, the Americas and Asia, Pantheon invests with purpose and leads with
expertise to build secure financial futures.

Pantheon was one of the first private equity investors to sign up to the
Principles for Responsible Investments ("PRI") in 2007 and has used these
principles as a framework to develop its sustainability policy across all its
investment activities. Since becoming a signatory, Pantheon has remained
highly engaged with the PRI and has been heavily focused on sustainability
integration, both through its involvement with associates and industry bodies,
and through its integration of ESG analysis into its investment process.

 

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