Bam’s PPP unit gets new name

Bam PPP said today that it is changing its name to “Invesis” to reflect its plan to provide more digital and energy-transition infrastructure.

Chief executive Kieron Meade said there was an “explosion in demand” for digital infrastructure to meet the growth in data driven by the internet of things, 5G, virtual reality and AI.

“There is an urgent and pressing need to invest in the transition from an economy dependent on fossil fuels to a net zero future based on renewable energy,” he added.

Newly-named Invesis has some 50 public-private partnership (PPP) projects with a combined capital value of €12bn, including the Afsluitdijk in the Netherlands, Silvertown Tunnel in the UK, Cross River Rail in Brisbane and University Hospital Schleswig-Holstein in Germany.

Last year, pension fund manager and investor PGGM purchased a 50% stake in the company alongside Royal Bam Group, allowing it to move into North America and Australia.