Quinbrook Infrastructure Partners, a global investment company focused exclusively on infrastructure for the energy transition, announced it had raised $3 billion in new capital commitments for its new fund.
The Net Zero Power Fund -- Quinbrook's fifth successive energy transition fund -- attracted new institutional investors from the US, Canada, Australia, UK, Sweden, Norway, Finland and the EU, the company said. The investors comprised a mix of pension, sovereign and insurance institutions as well as fund of funds, endowments and family offices.
David Scaysbrook, Co-founder and Managing Partner, Quinbrook Infrastructure Partners, said this was Quinbrook's largest fund close to date, and called it a demonstration of the confidence "our investors have".
Explaining the company's investment philosophy, Scaysbrook said: "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. 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 pursues a defined set of thematics ranging from large-scale solar + storage and sustainable infrastructure solutions for hyperscale data center customers to renewable fuels production, synchronous condensers providing direct grid support and contracted battery storage in strategic locations," Quinbrook said in a press release, giving the fund's notable investments to-date as:
- Primergy Solar, a leading US solar + storage developer, owner and operator with an 'under construction' and project development pipeline exceeding 12 GW across multiple US states and power markets with long term customers including 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 750 MW 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 stages of 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.