Our Portfolio
GIP has made the following infrastructure investments:
Terra-Gen Power Holdings, LLC
Year of Investment: 2009
Terra-Gen is a leading US renewable power generation company that owns or operates over 800 megawatts (MW) of renewable power facilities, including geothermal, wind and solar technologies. Terra-Gen also has more than 5,000 MW of renewable energy projects under development including an effort in Tehachapi, California involving up to 3,100 MW of wind energy, with the first 1,550 MW committed to Southern California Edison under a long-term power purchase agreement. GIP acquired a 38% convertible preferred interest in Terra-Gen in December of 2009.
Gatwick Airport Limited
Year of Investment: 2009
Gatwick is the UK’s second largest airport and the world’s busiest single runway airport. Currently, the airport handles approximately 33 million passengers annually through two terminals. Gatwick primarily serves the leisure travel market and has around 80 airline customers which serve more than 200 destinations and are a mix of short- and long-haul scheduled, low cost and charter service providers. A GIP-led consortium acquired Gatwick for approximately 1.5 Billion GBP in December 2009.
Chesapeake Midstream Partners, LLC (CMP)
Year of Investment: 2009
CMP is a 50/50 natural gas gathering joint venture between GIP and Chesapeake Energy Corporation, one of the leading natural gas shale producers in the U.S. GIP purchased its interest in the joint venture for approximately $588 million in cash. CMP will provide critical fee-based gathering services to Chesapeake and other third party producers in the Barnett Shale and the Midcontinent region of Texas, Oklahoma, Arkansas, and Kansas. Its gathering systems currently include 2,750 miles of gathering pipelines servicing some 3,700 natural gas wells. Chesapeake has also provided CMP with a ten-year minimum volume commitment.
Ruby Pipeline Holding Company, LLC
Year of Investment: 2009
Ruby is an approximately 675-mile natural gas pipeline to be constructed, owned and operated in a joint venture between GIP and El Paso Corporation. GIP’s investment in Ruby recognizes America’s increasing demand for cleaner energy sources. When completed, Ruby will transport natural gas from the growing Rocky Mountain supply region to the U.S. West Coast markets. GIP has committed to invest up to $700 million in this joint venture with El Paso, which is the largest owner and operator of interstate natural gas pipelines in the U.S. While under construction, El Paso will assume all of Ruby’s construction and development obligations with Ruby scheduled to go into service in March 2011. Once Ruby is operational, GIP and El Paso will own and operate the pipeline on a 50/50 basis.
GIM Channelview Cogeneration, LLC
Year of Investment: 2008
Channelview is a nominal 830 megawatt natural gas-fired cogeneration facility in the greater Houston, Texas area. Channelview, which became operational in 2002, is a clean, efficient power generator that sells steam and a portion of its electric output under long-term contracts. GIP is the majority shareholder in Channelview, which was acquired from affiliates of Reliant Energy in July 2008 in an equity partnership with FORTISTAR.
Biffa
Year of Investment: 2008
Biffa is a leading integrated waste management infrastructure company with a presence throughout the United Kingdom. The company operates across the value chain of waste collection, recycling and treatment and disposal. It is the market leader in the Industrial and Commercial collection business with over 450 national customers and approximately 75,000 local customers. The company has one of the largest landfill and resource recovery operations in the UK with 33 landfill sites and 42 treatment and recycling centers.
East India Petroleum Limited (EIPL)
Year of Investment: 2007
EIPL is a provider of liquid storage services for petroleum, lubricant products, petrochemicals, liquefied petroleum gas and bio diesel. The facility is located in the premier port of Visakhapatnam, India, whose cargo volumes and related freight activities make it one of the busiest in India.
IPH (Jersey) Limited (IPH)
Year of Investment: 2007
IPH is a wholly-owned subsidiary of GIP that was acquired in 2007 to provide GIP with a platform to lead and drive value in its investments in the ports sector. IPH is led by the experienced management team of Alistair Baillie, former Chief Operating Officer of P&O Ports, and Eliza O'Toole, formerly a City legal partner specializing in infrastructure development. IPH’s strategy is to invest in port assets internationally where there is growth and value creation opportunity. This focus applies across the sector with potential investments in all forms of port activity and ownership.
http://www.i-p-h.co.uk
Investments made through IPH to date are:
International Trade Logistics S.A. (ITL)
Year of Investment: 2008
ITL owns Argentina’s second largest and most modern container terminal. ITL also operates complementary logistics and warehousing businesses. GIP, through its wholly-owned subsidiary IPH, partnered with PSA International, the world’s largest operator of container terminals, to acquire a majority interest in this world class container port and logistics business.
PSA (UK) East Terminal Limited
Year of Investment: 2007
IPH (40%) formed a joint-venture company with PSA International Pte Ltd (60%) to operate a short sea container terminal at the Great Yarmouth Port. IPH and PSA International Pte Ltd are making a substantial capital investment in creating this container terminal. The first phase is projected to be operational in early 2009.
Great Yarmouth Port Company Limited (GYP)
Year of Investment: 2007
GYP is the principal UK port servicing the Southern North Sea oil and gas industry. Together with general cargo including forest products, agribulk and aggregates, it handles 1.3 million tons per annum. GYP is constructing a new deep water outer harbour at Great Yarmouth which will provide enhanced port facilities to cater to larger vessels and a wider range of trades, including a new container terminal for feeder and short sea services.
London City Airport (LCY)
Year of Investment: 2006
GIP acquired 100% of London City Airport jointly with AIG Financial Products (AIG-FP) in late 2006. In October 2008, GIP acquired the 50% ownership in London City Airport that it did not already own. After giving effect to the sale of a portion of this incremental ownership, GIP now owns a 75% interest in London City Airport .
Located close to Canary Wharf and the City of London, London City Airport is convenient for business travellers. The airport offers easy access to key business destinations within the United Kingdom and across Europe. Since its initial investment in London City Airport, GIP has supported a program of investment and operational improvements aimed at increasing capacity and improving the operating offering and service quality. London City Airport’s passenger numbers grew by 22% in its first full year of ownership.