Infrastructure Capital Group (ICG) is pleased to announce the completion of its acquisition of Tasmanian gas distributor, Tas Gas Networks, as part of the full acquisition of the multi-utility network, Enwave Australia, via its Energy Infrastructure Trust. Enwave Australia was acquired from Brookfield Infrastructure Partners, the listed infrastructure company of Brookfield Asset Management.
Tas Gas owns and operates the gas distribution network in Tasmania which comprises an 837km network of pipelines across the state. It is the second largest gas retailer in Tasmania, supplying to more than 14,000 industrial, commercial and residential customers.
In addition to Tas Gas, the acquisition also includes a district energy and utility networks business that develops, builds, owns and operates multi-utility precincts nationally. This currently includes precincts in Central Park, NSW, Mascot, NSW and Tonsley, SA where the company owns the utility networks at these sites which supply thermal energy, electricity, gas and recycled water to end users.
ICG’s Energy Infrastructure Trust is one of Australia’s largest portfolio of energy assets. It now comprises approximately $1.5 billion of equity invested in long term contracted assets across Australia, including wind farms, ports and gas pipelines.
Commenting on the completion of the acquisition, Tom Laidlaw, Managing Director of ICG, said:
“We are delighted to complete on the acquisition of this high-quality core infrastructure asset. It is an excellent business, with a strong management team and is highly complementary to our existing portfolio of Australian energy-related infrastructure assets. We look forward to working closely with the team as the business continues to evolve.”
About Infrastructure Capital Group
Infrastructure Capital Group is a leading Australian infrastructure manager, with over $2bn of equity under management. It offers Australian and international investors access to Australian brownfield infrastructure assets across three funds, the Energy Infrastructure Trust, the Diversified Energy Trust and its Renewable Income Fund.
ICG is one of Australia’s largest renewable managers, holding assets generating over 450MW of renewable energy.