Global Infrastructure Partners (a leading independent infrastructure investor) has agreed to acquire a 25% equity interest in Scotia Gas Networks (SGN) from Omers Infrastructure.
The transaction is expected to close in Q1 2022, pending regulatory review and approvals.
SGN is a critical UK infrastructure asset that operates two gas distribution networks in Scotland and the Southeast of England. It is well-positioned to play an essential role in the UK’s decarbonisation by supporting the transition from methane to renewable hydrogen sources and is committed to delivering on its low carbon ambitions, seeking to achieve net-zero by 2045.
Omers has also supported SGN’s preparations for the transition to hydrogen, including the H100 project in Fife.
Adebayo Ogunlesi, Chairman of GIP, said: “The conversion of gas distribution networks into hydrogen ready infrastructure represents a unique opportunity to significantly grow the Company while supporting the UK’s net-zero goals through the adoption of green hydrogen.”
Alastair Hall, Senior MD at Omers Infrastructure, added, “We will redeploy the capital back into growing our C$30 billion direct global infrastructure portfolio.”
In another development, Howden (suppliers of air and gas handling products) has acquired Compressor Products International (CPI) (provider of aftermarket components to the reciprocating compressor market). Reciprocating compression technology is critical to the energy transition, with applications in hydrogen production and infrastructure and biofuel production. As part of Howden, CPI will access growth opportunities through additional technology support from Howden and leverage Howden’s existing global distribution and services network in China, the Asia Pacific and South Africa.