Pioneer Point Partners invests €60m in Irish biogas platform
From its maiden institutional fund, Pioneer Infrastructure Partners, the fund is committing €120 million to the two platforms.
Stream BioEnergy, a developer and operator of anaerobic digestion plants in Northern Ireland and the Republic of Ireland, will receive €60 million. The initial investment will be used in part to acquire Tully I, a 3 MW operational AD facility owned by a group of investors including funds managed by Foresight Group.
The plant, located in Ballymena in Northern Ireland, has been developed and operated by Stream. Pioneer is backing Stream to create Ireland’s leading biogas company.
Another €60 million has been allocated to the newly created Altano Energy, a platform company that aims to build a large-scale institutional renewable portfolio in Spain. The initial investment will be used to acquire around 214 MW of solar PV, including two ready to build projects at 64 MW and a further 150 MW project.