Quinbrook Infrastructure Partners (Quinbrook), a specialist global investment manager dedicated to the energy transition infrastructure, has successfully finalized the closing of the Net Zero Power Fund (NZPF).
This significant milestone underscores Quinbrook’s commitment to fostering sustainable energy solutions.
Major Fundraising Achievement
Quinbrook has raised a total of US$3 billion in new capital commitments for the NZPF, including contributions from co-investment vehicles.
This marks Quinbrook’s fifth energy transition-focused fund. The fund attracted a diverse array of institutional investors from the US, Canada, Australia, the UK, Sweden, Norway, Finland, and the EU.
These investors include pension funds, sovereign and insurance institutions, as well as fund of funds, endowments, and family offices.
Strategic Investment Focus
The NZPF’s strategy targets several key areas:
- Large-scale solar and storage projects
- Sustainable infrastructure solutions for hyperscale data centers
- Renewable fuels production
- Synchronous condensers for direct grid support
- Contracted battery storage in strategic locations
Notable Investments
Primergy Solar
Primergy Solar, a US-based developer, owner, and operator of solar and storage projects, boasts a pipeline exceeding 12 GW across multiple states. Its long-term customers include major corporations such as Microsoft.
Rowan Digital Infrastructure
Rowan Digital Infrastructure develops sustainable solutions for hyperscale data centers across the US, with a diversified portfolio of contracted and development-stage campuses.
The Supernode Storage Project
Located in Australia, the Supernode Storage Project is a multi-stage, 750 MW battery energy storage system adjacent to the South Pine Substation. It has secured long-term contracts with Origin Energy, Australia’s largest electricity retailer.
Purpose Energy
Purpose Energy is a US-based developer, owner, and operator of biogas processing and renewable fuels projects, addressing food waste solutions for major manufacturers, including several Fortune 500 companies.
Project Severn
Project Severn includes two synchronous condensers in early-stage construction in the UK. Located in Sellindge, Kent, and Cilfynydd, South Wales, these projects will provide critical grid stability upon completion.
Quinbrook’s Ongoing Commitment
Rory Quinlan, Quinbrook’s Co-Founder and Managing Partner, highlighted the fund’s success: “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, the 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.”
Quinbrook has already invested and committed over half of the total capital raised to the projects mentioned and expects to be fully committed within the next 12 months.
Future Prospects
The NZPF is Quinbrook’s third fund closing in 2024, securing over US$4.3 billion in aggregate commitments. This includes the US$600 million for the Quinbrook Valley of Fire Fund, which closed in April 2024, and the oversubscribed £620 million Quinbrook Renewables Impact Fund, which closed in October 2023.