23rd Dec 2025 09:16
(Alliance News) - Pantheon Infrastructure PLC on Tuesday said it stands to benefit from Alphabet Inc's USD4.75 billion of Intersect Power.
Back in September, London-based infrastructure investment trust Pantheon committed to invest around GBP30 million into energy and data centre developer Intersect Power.
Intersect Power develops and operates utility-scale and industrial power infrastructure. It is based in Truckee, California.
On Monday, Google-owner Alphabet said it was buying Intersect for USD4.75 billion in cash, plus debt.
On Tuesday, Pantheon said the sale is expected to contribute an increase in net asset value of around 2.5 pence per share, or 2% of the NAV of 127.7p per share at September 30.
"Achieved within three months of the company's investment in Intersect, the sale is expected to represent [Pantheon Infrastructure's] second significant realisation since [initial public offer] and marks a further step in demonstrating the company's investment strategy to invest, grow and exit investments benefitting from key infrastructure tailwinds," Pantheon said in a statement.
In January, Pantheon said it expected a 3p per share boost to NAV from its investment in Calpine Corp which was bought for USD16.4 billion by Constellation Energy Corp.
Pantheon invested about GBP46 million in Calpine as part of a direct secondary transaction with Energy Capital Partners announced in June 2022.
Shares in Pantheon Infrastructure were 1.1% higher at 108.66 pence each in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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