Quinbrook Infrastructure Partners, an investment manager, has secured $1.6bn in investor commitments for its Low Carbon Power Fund, to invest in renewable energy projects.
Institutional investors in the Quinbrook‘s Low Carbon Power Fund include pension funds and insurance institutions from the US, UK and Australia. The investment firm has made seven portfolio investments till now, including utility scale onshore wind and solar PV, battery storage, gas peaking and reserve capacity along with ‘smart grids’ and embedded networks.
Quinbrook claims that its focus on new asset creation offers significant and measurable community and societal benefits that encompass job creation and preservation, carbon emission reduction, improved governance and transparency, safer working conditions and direct financial support for local communities.
Quinbrook co-founder and managing partner David Scaysbrook said: “We are very grateful to both our longstanding investors and our new institutional clients who have enabled us to achieve our largest fund raising to date.
“We especially value their commitment to Quinbrook’s investment strategy, which seeks to deliver both ongoing cash yield and absolute gains from the creation of new low carbon energy infrastructure assets and the remediation of impaired or undervalued energy assets and businesses.
“We believe our team is exceptional and includes professionals who have been investing within energy infrastructure now for over 20 years. That collective expertise, commitment to ESG principles and industrial approach to energy investing has differentiated our strategy with investors.”
The firm invested in Ranchero wind farm this January, which will be located in Crockett County, Texas. It is expected to begin operations by the end of this year. The wind farm will be powered by 120 of GE’s 2.5MW turbines. Scout Energy, the owner of the project, has engaged RES Americas for the construction and construction management has been handed over to Harvest Energy Services, a Scout affiliate.
Last November, the firm’s portfolio company Scout Energy had completed securing permits for the 130MW Bitter Ridge wind farm in Jay County, Indiana. The project will include 59 turbines, which will be constructed on 12,000 acres of land in the county. It expected to begin operations in early 2020.