Quinbrook Infrastructure Partners, a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, announced it has held a final closing of the Net Zero Power Fund.
Quinbrook has secured a total of $3 billion of new capital commitments in aggregate across the fund and co-investment vehicles for the NZPF strategy. NZPF is Quinbrook’s fifth successive energy transition focused fund raised to date. This 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.
NZPF’s strategy features 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. The notable investments to-date include:
1.) 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.
2.) 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.
3.) 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.
4.) 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.
5.) 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 the National Grid’s Stability Pathfinder Program.
Quinbrook has already invested and committed more than half of the 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 $4.3 billion in aggregate commitments secured. This includes the $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.
KEY QUOTES:
“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. 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.”
- David Scaysbrook, Quinbrook’s Co-Founder and Managing Partner
“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. 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.”
- Rory Quinlan, Quinbrook’s Co-Founder and Managing Partner
