On 21 August 2020, Infrastructure Capital Group on behalf of DIT, in a consortium with Pacific Equity Partners and OPTrust, successfully implemented a Scheme Implementation Deed to acquire 100% of shares in Zenith Energy Limited (Zenith).
Zenith is a market leader in remote power generation with notable strengths in gas-fired and hybrid renewable solutions, having recently completed Australia’s first commercially funded hybrid diesel solar PV installation. It has over 220MW generation capacity contracted under the “Build, Own and Operate” model with high quality counterparties in the mining and oil and gas sectors, such as Newmont, Chevron and Northern Star.
Tom Laidlaw, Managing Director of ICG, said “We are excited to complete the Zenith “take-private” transaction and we look forward to working with the Zenith management and our consortium partners to support the business and drive its growth agenda. Zenith has a strong contract book which provides favourable defensive attributes with significant upside potential. The investment in Zenith is a continuation of DIT’s investments in core infrastructure assets and will provide additional diversification to the DIT portfolio.”