IPE Real Assets
Summary
DIF Capital Partners is buying a majority interest in UK district heating company Pinnacle Power for an undisclosed sum.
The €15bn infrastructure fund manager, investing on behalf of its DIF Infrastructure VII fund, said it has agreed to buy the “significant majority” stake from Pinnacle Group with Pinnacle Power’s management team retaining a minority interest.
DIF said it is investing to help Pinnacle Power “accelerate its growth and fund the development and ownership” of city-scale district heating networks across the UK.
“Many towns and cities have declared climate emergencies but very few have credible solutions to the ‘heat challenge’. This investment offers a clear pathway to achieving decarbonisation, through local investment in locally generated, low-carbon heat.”
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