Quinbrook Exceeds Target for Net Zero Power Strategy Raising USD 3 Billion in Capital Commitments
01 Agosto 2024 - 8:00AM
Business Wire
Latest fund closing is the third for Quinbrook
this past year taking total capital raised to over USD 4.3 billion
in aggregate
Quinbrook Infrastructure Partners (“Quinbrook”), a specialist
global investment manager focused exclusively on the infrastructure
needed for the energy transition, has held a final closing of the
Net Zero Power Fund. Quinbrook secured a total of USD 3 billion of
new capital commitments in aggregate across the fund and
co-investment vehicles for the NZPF strategy (“NZPF”, or the
“Fund”). NZPF is Quinbrook’s fifth successive energy transition
focused fund raised to date. The Fund attracted new institutional
investors from the US, Canada, Australia, UK, Sweden, Norway,
Finland and the EU and comprised a mix of pension, sovereign and
insurance institutions along with a number of fund of funds,
endowments and family offices.
“This successful closing – Quinbrook’s largest to date – is a
demonstration of the confidence our investors have in our
differentiated investment strategies around project development,
asset creation and business platform growth coupled with active
asset management. We seek higher ‘value add’ returns from
infrastructure opportunities offered by the energy transition that
enable us to secure long term contracted revenues from top tier
customers,” said David Scaysbrook, Quinbrook’s Co-Founder and
Managing Partner. “We have demonstrated a consistent ability to
move early into highly prospective sectors whether it be mega scale
solar+storage projects, sustainable infrastructure solutions for
hyperscale data centers, AI optimisation of battery storage or
synchronous condensers for critical grid support where in each case
we are staying ‘true to label’ as a specialist infrastructure
investor and manager.”
NZPF’s strategy pursues a defined set of thematics ranging from
large scale solar+storage, sustainable infrastructure solutions for
hyperscale data center customers, renewable fuels production,
synchronous condensers providing direct grid support and contracted
battery storage in strategic locations.
Notable investments to-date include:
- Primergy Solar, a leading US solar + storage developer, owner
and operator with an ‘under construction’ and project development
pipeline exceeding 12GW across multiple US states and power markets
with long term customers including AWS and Microsoft.
- Rowan Digital Infrastructure, a US based developer of
sustainable infrastructure solutions for hyperscale data center
operators with a portfolio of both contracted and development stage
campuses diversified across the US to host next-generation, mission
critical, hyperscale data centers.
- The Supernode Storage Project, a fully permitted, multi-stage
750MW Battery Energy Storage System (BESS) located in Australia
adjacent to the South Pine Substation – the central node of the
Queensland electricity transmission system with Stages 1 and 2
recently contracted long term with Origin Energy, Australia’s
largest electricity retailer.
- Purpose Energy, a US based developer, owner and operator of
biogas processing and renewable fuels supply projects delivering
solutions for the growing challenge of food waste solutions for
major food manufacturers with several notable Fortune 500
customers.
- Project Severn, a UK portfolio of two synchronous condensers
located at Sellindge in Kent, England and Cilfynydd in South Wales
that are in early stage construction that will provide critical
grid stability once operational. Quinbrook was awarded contracts
for both projects in Phase III of National Grid’s Stability
Pathfinder Program.
“The Net Zero Power Fund follows our successful Low Carbon Power
Fund and Renewables Impact Fund, which enabled us to develop, build
and operate some of the largest and award winning renewable energy,
battery storage and grid support projects in the US, UK and
Australia. We are grateful for the support we’ve received from our
existing investors and welcome many new investors to Quinbrook from
all over the world,” added Rory Quinlan, Quinbrook’s Co-Founder and
Managing Partner. “This latest closing is a testament to our
exceptional team who have worked tirelessly to execute and deliver
real results for our LPs from differentiated and impactful
offerings driving the energy transition forward.”
Quinbrook has already invested and committed more than half of
total committed capital to date across the existing portfolio
described above and expects to be fully committed within the next
12 months.
NZPF is the third fund closing for Quinbrook this past year
representing over USD 4.3 billion in aggregate commitments secured.
This includes the USD 600 million for the Quinbrook Valley of Fire
Fund which held its final close in April 2024 and the
oversubscribed GBP 620 million Quinbrook Renewables Impact Fund
which held its final close in October 2023.
About Quinbrook
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is
a specialist investment manager focused exclusively on the
infrastructure needed to drive the energy transition in the UK, US,
and Australia. Quinbrook is led and managed by a senior team of
power industry professionals who have collectively invested c. USD
5.6 billion of equity capital in 43.3 GW of energy infrastructure
assets representing a total transaction value of USD 48.3 billion.
Quinbrook has completed a diverse range of direct investments in
both utility and distributed scale onshore wind and solar power,
battery storage, reserve peaking capacity, biomass, fugitive
methane recovery, hydro and flexible energy management solutions in
the UK, US, and Australia. Quinbrook is currently developing and
constructing some of the largest renewables and storage
infrastructure projects in the UK, US, and Australia.
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