Quinbrook Closes Oversubscribed GBP 587 Million Renewables Impact Fund II

Investments will advance decarbonisation, improve security of energy supplies, and provide critical grid support across the UK and Ireland

LONDON--(BUSINESS WIRE)--Quinbrook, a specialist investment manager focused exclusively on delivering the infrastructure needed for the energy and digital transitions, announced the final close of its second UK-focused Quinbrook Renewables Impact Fund (“QRIF II”, or the “Fund”). Quinbrook raised GBP 587 million of investor commitments for QRIF II’s strategy, exceeding its GBP 500 million target.

QRIF II is Quinbrook’s fifth managed fund and builds on the strategy of its inaugural Renewables Impact Fund (“QRIF”), which closed in 2023. The Fund focuses on delivering the infrastructure required to support the UK’s Clean Power 2030 targets and Ireland’s target of meeting 80% of electricity demand from renewable sources by 2030. QRIF II was marketed exclusively to institutional investors in the UK and Ireland and saw a strong re-up rate from QRIF investors.

“As the UK and Ireland continue to make meaningful progress towards their energy transition goals, investor demand for infrastructure assets that deliver both resilience and decarbonisation continues to grow,” said Keith Gains, Managing Director and UK Regional Lead. “With QRIF II, we have expanded our strategy into areas where we see strong long-term demand and supportive policy frameworks, including grid stability infrastructure in Ireland and the decarbonisation of commercial transport in the UK. These investments are underpinned by long-term contracts and essential-service characteristics, which we believe are critical to delivering stable investor returns while supporting economy-wide decarbonisation.”

The QRIF II portfolio is already well advanced and features long-term, inflation-linked contracts. It advances new investment in renewable energy and storage that will accelerate decarbonisation of the power and transport system, improve security of domestic energy supplies, and provide critical grid support. These investments are supported by Quinbrook’s dedicated delivery partner, Private Energy Partners, which provides specialised development and construction management and technical services across the fund’s projects. Notable investments within QRIF II’s portfolio include:

• Mallard Pass Solar Project, a 373 MW dc (240 MW ac) solar PV project in the East Midlands, England, which is Quinbrook’s second nationally significant infrastructure project. Construction of Mallard Pass is expected to begin later this year with commencement of operations in 2028.
• Wexford Synchronous Consider Project, Quinbrook’s first investment in the Republic of Ireland. This proposed 963 MVA.s. facility was awarded a long-term revenue contract under Eirgrid’s Low Carbon Inertia Services tender and is configured to provide critical grid services including, inertia, short-circuit level, and reactive power that are essential to maintain stability in the Irish electricity grid. Construction is underway and is expected to be completed in 2027.
• Aegis Energy, a company building a network of clean energy refuelling hubs across the UK to enable decarbonisation of commercial and industrial vehicle transport fleets.
• Project Norton, a 65MW solar and 41MW battery storage facility in Stockton-on-Tees that is in late-stage development and expected to commence construction later this year.

“Both the level of investor demand for QRIF II and the pace at which we reached our fundraising target underscore the strong and growing investor demand for high-quality, contracted clean energy infrastructure assets and businesses in the UK and Ireland. Investors are increasingly focused on strategies that combine downside protection with meaningful exposure to the energy transition, and we believe Quinbrook’s proven ability to originate, develop and deliver these investments continues to resonate strongly in the market,” said Mark Burrows, Managing Director, Head of Relationships and Fundraising, Europe. “We are grateful for the support of our existing and new investors in QRIF II.”

To date, Quinbrook has invested GBP 1.2 billion of equity capital in projects and businesses operating in the UK and Ireland, with total capital investment of GBP 1.7 billion. The investments in the QRIF II portfolio are expected to further advance Quinbrook’s sustainability efforts in the UK and Ireland, support 2,300 indirect and direct jobs and avoid more than 25 million tonnes of CO₂ emissions over the projected lifetime of the Fund’s investments. As just one example, Quinbrook is targeting 71% biodiversity net gain for its Nationally Significant Infrastructure solar project, Mallard Pass.

About Quinbrook
Quinbrook is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy and digital transitions. Led and managed by a senior team of energy industry professionals, Quinbrook is an accomplished asset creator and business builder that conceives, develops, constructs and operates a diverse array of innovative infrastructure projects and growth platforms. Since its founding in 2015, Quinbrook has invested in over 40 GW of energy infrastructure assets and businesses representing a total transaction value exceeding USD 27 billion spanning large-scale renewable power generation, biofuels production, long duration storage, hyperscale data centre infrastructure, AI powered asset optimisation, grid support and flexibility solutions in North America, the UK/Ireland and Australia.

Media Contact:
Jennifer Pflieger
+1 (212) 446-1866
jpflieger@sloanepr.com