First Sentier-backed Igneo Infrastructure Partners, an asset manager, agreed to acquire Eastland Network, an electricity distributor, for $159m. “Igneo and First gas are committed to ensuring the long-term resilience and security of supply of electricity to the more than 26k homes and businesses across 12k square kilometres of the East Coast. We expect to further invest in the network as electrification increases energy demand over the coming years.“We are supporting New Zealand’s commitment to net zero emissions by investing in renewable gas and we recognise the important role the electricity sector will play to achieve this. Owning and operating both gas and electricity distribution networks will help Firstgas facilitate a lower-emissions future for New Zealand,” Daniel Timms, Igneo Head of Asset Management Australia and New Zealand.