Quinbrook Infrastructure Partners has acquired has acquired Colorado-based Scout Clean Energy, which is currently developing 1.6GW of wind power projects across the US at an investment of $1.7bn.
Financial details about the acquisition were not disclosed.
Quinbrook is a specialist investment manager focused on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia.
Upon completion, the projects developed by Scout Clean Energy would generate enough emissions free power to serve the needs of about half-million households in the US.
Scout’s team has developed and completed about nine wind power projects, with a total output of about 649MW across North America since 2011.
Recently, the team completed a 230MW West Texas wind farm which started commercial operations in 2016.
Most of wind projects developed or under development by Scout Clean Energy qualify for US production tax credits (PTCs). Recently, the US government extended these credits by four more years.
Quinbrook Infrastructure Partners co-founder and managing partner David Scaysbrook said: "Quinbrook's investment in Scout aligns with our long-term strategy of building a larger scale portfolio of on-shore wind power projects in the US.
"Investing in innovative and experienced development teams like Scout is key to helping us meet growing demand for sustainable, long-term infrastructure investments with real ESG impacts."
Scout Clean Energy president Michael Rucker said: "The opportunity to accelerate the expansion of wind power generation is immense now that businesses, consumers and policymakers are all seeing the benefits of low cost renewable energy. Quinbrook's investment in Scout enables us to seize that opportunity and grow our footprint of utility-scale wind projects.”
Image: Quinbrook Infrastructure Partners acquires Scout Clean Energy. Photo: Courtesy of Jim Frech/FreeImages.com.