DIF Capital Partners has agreed to invest in a significant majority stake in Pinnacle Power, a major developer and turnkey contractor in the U.K. district heating market. Financial terms were not disclosed.
The company has delivered more than 100 projects since its 2012 inception. Notably, it has developed and is the operator of the £87 million ($105 million) Greenwich Peninsula network. With 87 megawatts of heat capacity, 15,700 residential units, this is one of the largest city-scale networks in the country.
DIF’s investment will help to accelerate the company’s growth and fund the development and ownership of city-scale district heating networks across the United Kingdom.
District heating networks are widely expected to play a crucial role in the United Kingdom’s journey to net zero. Heat-related activities are currently the biggest contributors to greenhouse-gas emissions in the country, representing 37 percent of total emissions. District heating net