Pantheon Infrastructure (PINT) has invested $58 million in Calpine Corp., one of the largest generators of electricity from natural gas and geothermal resources in the United States.
Calpine is a vital supplier to the U.S. electricity grid, with operations across CAISO (California), ERCOT (Texas), and PJM (13 states and the District of Columbia) power markets. The company has a current power generation capacity of 26 gigawatts.
PINT invested alongside ECP, a major investor across energy transition and decarbonization-infrastructure assets.
“This is a really exciting investment in a company that has a vital role to play in the U.S. energy mix — and in supporting the country’s transition to net zero,” said Richard Sem, partner at Pantheon, PINT’s investment manager. “We are delighted to invest alongside ECP and to support Calpine’s own shift towards renewable energy, as we continue to build out PINT’s portfolio.”