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Transactions - JULY 30, 2024

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I Squared to acquire controlling interest in Aurora Utilities, invest $200m in last-mile electric grid infrastructure

by Kali Persall

I Squared has agreed to acquire a controlling interest in Aurora Utilities, an independent distribution network operator (IDNO) platform in the United Kingdom.

Aurora holds a license, regulated by the United Kingdom’s Office of Gas and Electricity Markets (Ofgem) to own and operate electricity distribution networks across the United Kingdom’s liberalized electricity market.

I Squared plans to invest $200 million to scale the platform into a large owner of grid infrastructure, connecting customers to the electricity network to support the buildout of EV charging stations, battery storage sites, commercial and industrial business electrification and new residential housing developments.

The Aurora platform will support customers by partnering early to support the technical design and legal requirements of the connection equipment, thereby mitigating construction risk and then adopting the assets once the infrastructure is completely built.

This represen

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