Quinbrook Infrastructure Partners has closed its oversubscribed Renewables Impact Fund II (QRIF II) at £587 million, surpassing its £500 million target to target grid stability and biodiversity alongside renewable generation. The fund differentiates itself by focusing on critical grid-forming assets, such as Irish synchronous condensers, and targeting a 71% biodiversity net gain for solar projects to address key bottlenecks in the UK and Irish energy transition.

Key Takeaways

• Fund Name: Quinbrook Renewables Impact Fund II (QRIF II).
• Target Beaten: Raised £587 million, exceeding the £500 million target.
• Geographic Focus: United Kingdom and Ireland.
• Investment Goals: Renewable energy, storage, grid support, and transport decarbonization.
• Policy Alignment: Supports UK Clean Power 2030 and Ireland’s 80% renewable electricity target.
• Current Portfolio: Includes Mallard Pass Solar, Aegis Energy, and Project Norton.
• Previous Fund: QRIF I closed in October 2023 at €620 million.

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Mark Burrows, Managing Director, Head of Relationships and Fundraising, Europe, commneted:

“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.”

Keith Gains, Quinbrook Managing Director and UK Regional Lead, Added:

“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. 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.”