I Squared Capital has launched ANZA Power, a next-generation independent power producer established to deliver reliable and sustainable energy solutions across Australia and New Zealand. Backed by a USD $300 million commitment from I Squared’s ISQ Growth Markets Infrastructure Fund II, the new platform is designed to provide clean, dispatchable power for commercial and industrial customers while supporting grid resilience and long-term reliability.
ANZA Power is being built around an integrated mix of renewable generation, battery storage and flexible gas power generation, a combination intended to deliver round-the-clock energy that meets industrial operating needs while helping reduce emissions and support broader system stability. The launch adds to I Squared’s global renewable energy portfolio, which the firm said includes more than 10,000 MW of renewable capacity and 15,000 MW of natural gas-powered generation.
The platform was formed through the acquisition of a portfolio of solar hybrid plants and battery energy storage systems, providing an initial pipeline of projects and contracted cash flows. Advanced-stage projects in Australia include 80 MWac/320MWh of solar hybrid plants in Victoria and New South Wales, secured by long-term, 20-year agreements with a tier 1 hyperscale customer. I Squared said the contracted structure is intended to provide revenue certainty that can support further investment and scaling of the platform.
ANZA Power also expects to begin construction on an additional 80 MW of renewable assets across Australia and New Zealand in the first half of 2026.
I Squared said ANZA Power will leverage expertise and operational efficiencies from its broader renewable portfolio, including its APAC investments. The firm cited its pan-Asian platform Hexa Renewables, which it said has a portfolio of more than 2 GW of solar, wind and energy storage assets across Japan, South Korea, Taiwan, the Philippines and India under long-term contracts.
I Squared Capital said it manages $50 billion in assets and has a portfolio of more than 90 companies operating in more than 70 countries across sectors including energy, utilities, digital infrastructure, transport, and environmental and social infrastructure.
KEY QUOTES:
“Across Australia and New Zealand, customers and power systems are facing a dual imperative of accelerating decarbonization while ensuring reliable, round-the-clock energy supply. ANZA Power was purpose-built to address this challenge. By combining renewable generation, battery storage and flexible gas power generation within a single, scaled platform, we aim to deliver clean power that is available when customers need it most, without compromising grid resilience. This investment reflects our long-term conviction in the region and our strategy of building high-quality, locally anchored platforms that can grow alongside industrial and commercial customers, support economic development, and contribute meaningfully to the energy transition across Australia and New Zealand.”
Harsh Agrawal, Senior Partner, I Squared Capital
