The second instalment of Quinbrook’s Renewables Impact Fund has been met with strong investor demand, with commitments exceeding the fundraising target.
Quinbrook’s Renewables Impact Fund II closed this month, having raised £587m, exceeding its £500m fundraising target.
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The fund, which focuses on scaling up clean infrastructure in the UK and Ireland, received a £40m commitment from Border to Coast last year. It has also attracted investments from Greater Gwent (Torfaen), Strathclyde, and a separate South Yorkshire allocation, according to Preqin data.
QRIF II is Quinbrook’s fifth managed fund and builds on the strategy of its inaugural Renewables Impact Fund (“QRIF”), which closed in 2023.
“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,” said Keith Gains, managing director and UK Regional Lead at Quinbrook.
The fund’s portfolio includes, among others, the Mallard Solar Project in the Midlands, the Wexford Synchronous Condenser Project in Ireland, Aegis Energy—a company building a network of clean energy refuelling hubs across the UK—and Project Norton, a 65MW solar and 41MW battery storage facility in Stockton-on-Tees.
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