Quinbrook confirms $3bn raised for Net Zero Power Fund

Specialist global investment manager Quinbrook Infrastructure Partners has announced it has raised $3bn for its latest clean energy-focused fund, providing a major boost for infrastructure investments in support of the global energy transition.

Quinbrook announced the final close of its Net Zero Power Fund (NZPF) yesterday, confirming it had attracted new institutional investors from the US, Canada, Australia, UK, Sweden, Norway, Finland and the EU, comprising a mix of pension, sovereign, and insurance funds, along with a number of endowments and family offices.

The Fund’s investment strategy includes a defined set of themes ranging from large scale solar and storage projects, sustainable infrastructure solutions for hyperscale data center customers, renewable fuels production, synchronous condensers providing direct grid support, and contracted battery storage in strategic locations, Quinbrook said.

“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,” said David Scaysbrook, Quinbrook’s co-founder and managing partner.

“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.”

Notable investments in Quinbrook’s portfolio to date include Primergy Solar, a US solar and storage developer, owner and operator with a development pipeline exceeding 12GW across multiple US states and power markets and long term customers such as AWS and Microsoft.

It has also invested in UK portfolio Project Severn comprising two synchronous condensers located at Sellindge in Kent, England and Cilfynydd in South Wales that are in early stage construction that the investment manager said 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,” said Rory Quinlan, Quinbrook’s co-founder and managing partner.

“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.”

Quinbrook said it has already invested and committed more than half of total committed capital to date across its existing portfolio, and expects to be fully committed within the next 12 months.

NZPF is the third fund closing for Quinbrook this past year and represents more than $4.3bn in aggregate commitments secured. This includes the $600m for the Quinbrook Valley of Fire Fund which held its final close in April 2024, and the £620m Quinbrook Renewables Impact Fund which closed in October 2023.

You can now sign up to attend the fifth annual Net Zero Festival, which will be hosted by BusinessGreen on October 22-23 at the Business Design Center in London.