Global Via Metro De Sevilla 02


PGGM Infrastructure manages a diversified equity portfolio of investee companies operating across four sectors: Transport, Communications Infrastructure, Energy & Utilities, Social & PPP.


Metro de Sevilla

Glovalvia Infraestructuras

Globalvia is a leading Spanish owner and operator of road and rail concessions.
Globalvia has a diversified portfolio of concessions in terms of geographies (Europe, Latin America and USA) and revenue model (varying from availability based to real toll).

Airbus/Boeing, Macquarie AirFinance

Macquarie AirFinance

Macquarie AirFinance is a global diversified aircraft leasing company with 192 aircraft on lease to 87 customers in 48 countries as of 31 December 2019.

AWSA I, 2.6km to Poznan


AWSA I is a toll-based 149km stretch of motorway, between the cities of Nowy Tomysl and Konin. It was initiated as part of a major long-term upgrade of the motorway and built and opened between 2000 and 2005. The A2 motorway is a key transport corridor across Poland. AWSA II is the extension of the A2 motorway from Nowy Tomysl, the western border of the AWSA I concession, to Swiecko at the German border with a total length of approximately 105 km. The key distinction of AWSA II is it’s availability based concession, which provides for more resilient cash flow profile.



ALIS (Autoroute de Liaison Seine-Sarthe), a French company, operates the 125km, 2x2 lane tolled motorway between Rouen and Alençon (A28) under a 62-year operations concession contract granted by the French State and maturing in December 2067.

LBC Houston

LBC Tank Terminals

LBC Tank Terminals is one of the largest independent operators of bulk liquid storage terminals and the second largest independent chemical storage company in terms of global storage capacity. LBC Tank Terminals operates a network of 7 storage terminals in the US, Belgium, and The Netherlands, providing approximately 2.4 million m3 of bulk liquid storage capacity.

A41 Nord, a section of motorway between the towns of Saint-Julien-en-Genevois and Saint-Martin-Bellevue (it connects the French cities of Annecy and Chambéry to the swiss border near Geneva).

APRR Société des Autoroutes Paris-Rhin-Rhon

Société des Autoroutes Paris-Rhin-Rhône (APRR) is the second largest toll road network in France with a stable track record and operational history of over 30 year.

Stapleton Creek in the Northern Territory, Australia

One Rail Australia

One Rail Australia is the third largest rail freight operator in Australia. The company's operations consist of dedicated coal transport from Glencore mines to the Port of Newcastle in the Hunter Valley, transport of containerised goods along the corridor between Adelaide and Darwin, and the transport of various bulk commodities (e.g. grain. iron ore) in the Adelaide region.

Alpha Trains

Alpha Trains

Alpha Trains is the leading rolling stock lessor in Continental Europe. 125 employees from 15 countries work in offices in Luxembourg, Antwerp, Cologne, Madrid and Paris. Alpha Trains owns more than 850 locomotives and passenger trains and offers tailor-made leasing solutions, comprehensive know-how in maintenance and vehicle repairs as well as long-term experience in the financing of new build projects. Alpha Trains' fleets are in use by many public and private operators in 19 European countries.

Communications Infrastructure

ATC Germany tower

American Tower Corporation Europe

ATC Europe owns and manages telecommunication towers in Europe. The company leases tower space to telecom operators on the basis of long-term contracts. Each tower can host multiple tenants depending on the type of tower and equipment. The tenants install their own broadcasting equipment.

Axicom tower


Axicom is the largest independent telecommunication tower operator in Australia with over 2000 sites.

Eurofiber NMK veldwerk


Eurofiber has been a provider of industry-leading open digital infrastructure since 2000. Eurofiber has an extensive fiberoptic network in the Netherlands, Belgium and France, as well as datacenters of its own in the Netherlands and France. Since 2000, Eurofiber has installed over 37,200 kilometers of fiberoptic cable, expanding its network by over 40 kilometers per week on average.

Energy & Utilities

Snoqualmie Falls Hydroelectric Project

Puget Sound Energy

Puget Sound Energy is a Bellevue, Washington-based regulated utility, providing electric and natural gas service to Western Washington.



Duquesne is the owner of Duquesne Light Company a transmission and distribution only electric utility in Pennsylvania and owner of DQE Communications owner and operator of the largest fibre optic network in the Pittsburgh metropolitan area.



BUUK is active in the UK with constructing and owning last mile utility connections mostly comprising regulated gas and electricity, but also fibre, water, waste water and district heating. The company owns and operates over 30,000 networks serving more than 1 million homes and has a solid order book to build further connections for its clients - residential property developers who require connections for their new built homes and apartments.

Oradell Dam on the Oradell Reservoir

Suez Water Resources

Suez Water Resources is the third largest water and waste water utility in North America based on rate base and number of connections.

MRG, Central boiler room

Madrilena Red de Gas

Madrilena Red de Gas ('MRG') is the third largest natural gas distribution company in Spain, operating approximately 850.000 connections. It has perpetual licenses to serve 59 municipalities in the Community of Madrid. Its distribution network consists of 5.563 km of gas pipelines with operating pressures ranging from 0.03 to 4 bar for residential and commercial customers and above 4 bar for industrial customers.

Construction of the Enschede Warmtebaan, a six-kilometer extension of the existing heat network.


Ennatuurlijk owns and operates district heating networks serving some 70.000 households as well as some 1.000 commercial customers in The Netherlands.

Solar roof

Solar City

SolarCity, a part of Tesla Energy since 2016, is one of the largest solar installers in the US. PGGM’s Solarcity portfolio consists of over 38.000 rooftop solar panel systems placed throughout 21 states in the US and equals 277 kW.

Walney Offshore Windfarm

Walney Offshore Windfarms

Walney Offshore Windfarms Ltd owns 100% of two offshore wind farm projects known as Walney 1 and Walney 2 licensed as part of the UK’s Round 2 regulatory process for offshore wind farms. The windfarms are located in the eastern part of the Irish Sea, 14 km off the north west coast of England within British waters. Each wind farm consists of 51 Siemens 3.6 MW wind turbines resulting in 367.2 MW of total installed capacity. Walney 1 has been fully operational since July 2011 and Walney 2 has been fully operational since June 2012.

Walney Offshore Wind Farm

Northern Offshore Gas Transport


NOGAT owns a North Sea gas pipeline and a gas treatment plant in Den Helder, offering clients a route to market for North Sea natural gas. NOGAT transports gas from the northern part of the Dutch North Sea and processes the gas at the Den Helder gas treatment plant. After treatment, gas is injected in the Dutch gas grid. The NOGAT pipeline is operated by Neptune.

EFD Renewables Solar park Playa Solar / Switch

EDF Renewables

A 50% equity interest in a 934 MW portfolio of 5 utility-scale solar PV and onshore wind projects in the United States operated by EDF Renewable Energy. The projects started operating between 2017 and beginning of 2020 and are located in California, Nevada, Minnesota, Oklahoma and Iowa. All projects have Long term off-take agreements and are partially funded by tax equity financing.

Baltic 2

Baltic 2

Baltic 2 owns and operatesa 288 MW offshore wind farm located 34 km off the Island of Ruegen in the Baltic Sea.



Caruna is Finland’s largest electric Distribution System Operator (“DSO”) with over 700,000 customers in South, Southwest and West Finland.

Thames Picture (002)

Thames Water

Thames Water is the largest regulated water and wastewater service company in the UK, supplying on average 2.7 billion liters of drinking water each day to 10 million customers and treating 4.6 billion liters of sewage per day for 15 million customers in London and the Thames Valley.


Stockholm Exergi

Stockholm Exergi is the owner and operator of the largest and most versatile district heating and district cooling network in the Nordics. The Company provides highly environmentally sustainable district heating for both corporate and residential customers across seven municipalities in Stockholm County, and critical electricity capacity to the Stockholm electricity grid.

Social & PPP

N33 Netherlands


PGGM and Royal BAM Group jointly own BAM PPP, a leading developer and operator of public infrastructure across Northwestern Europe. The company manages all aspects of Public Private Partnership (PPP) projects, from the design, construction and financing through to operations, maintenance and handback on Transport and Social Infrastructure projects across Europe and selected international markets.

UPP Byron SU 041013 024 Copy


UPP is UK's leading provider of on-campus residential & academic accommodation infrastructure with over 36,000 rooms in operation or under construction through long-term, bespoke partnerships with 15 world-leading universities.

CIVIS Manchester Joint Hospitals Int09


Civis owns and operates a portfolio of health, education, accommodation and waste projects in UK and Ireland consisting largely of PPP / PFI concessions. The company currently has c. 20 projects in operation.


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