Our Corporate Energy Transition team has advised Pioneer Point Partners on its investment in Rendesco Limited, a UK-based developer, owner and operator of low-carbon heat networks.
The transaction represents the fifth investment by Pioneer's second institutional fund, Pioneer Infrastructure Partners II SCSp, which reached final close in April 2025. Pioneer has committed up to £100 million to Rendesco, with the initial investment used to acquire a majority stake in the business and support the delivery of its existing and future pipeline. The investment is expected to facilitate up to £500 million of capital expenditure in low-carbon heat network infrastructure.
Founded in 2012, Rendesco specialises in ground source heat pump (GSHP) solutions for new-build residential developments and has delivered heat networks at more than 175 developments across the UK. The business works with national and regional housebuilders to deliver low-carbon heating and cooling solutions for schemes ranging from 50 to 2,000 homes.
The investment supports the continued scaling of Rendesco's platform, enabling the development of a substantial portfolio of low-carbon heat network assets supplying new-build residential properties. The transaction comes at a time of increasing regulatory support for low-carbon heating, including through the UK's Future Homes Standard.
The team was led by Corporate Energy Transition Principal Associates Sian Dewing and Chelsie Taylor and Partner and Global Co-lead of Energy, Nuclear, Natural Resources and Infrastructure Gareth Baker. They were supported by Corporate Associates Emily Chittick, Christy Morgan and Trainee Solicitors Alice Grimley Evans and Matilda Pratt. The wider transaction team comprised Partner Gus Wood and Associate Kate Huet (Commercial Energy & Energy Regulatory), Partner Kate Featherstone and Senior Associate Michael Hansby (Corporate Tax), Senior Associate Tom Wang and Associate Alicia Dominique (Projects/Construction), Partner Rhiannon Pugh and Principal Associate James Stunt (FDI/Antitrust), Associate Olivia Gissel (Employment and Incentives) and Legal Director Susannah Fink and Trainee Solicitor Alan Muema (Insurance).
Gowling WLG's Energy Transition team has a strong track record advising investors, developers and funders on investments and transactions across the low-carbon infrastructure sector, including heat networks, renewable energy and energy storage. Recent examples of transactions include advising Pioneer on an investment in renewable heat platform Yeager Energy and in relation to the creation of Eelpower Energy, a £500 million platform to construct, own, and operate UK battery storage (BESS) assets.