Quinbrook Infrastructure Partners has surpassed its initial £500m (€576m) fundraising target for its UK-focused renewables impact fund by over 20%.
The investment manager said the Quinbrook Renewables Impact Fund (QRIF) received £620m in capital commitments at close.
Quinbrook said QRIF’s portfolio includes Cleve Hill in Kent, Rassau Synchronous Condenser in Wales, Thistle critical grid support portfolio, comprising four synchronous condenser new-build projects in Scotland, the 230MW Uskmouth battery storage project in Wales, and Habitat Energy, a battery optimisation platform.
QRIF’s portfolio includes a range of long-term inflation-linked contracts with investment-grade counterparties such as National Grid and the UK government.
Rory Quinlan, managing partner and co-founder of Quinbrook, said: “Select UK power infrastructure assets can have valuable diversifier benefits to portfolio investments which are strongly correlated to GDP.
“This coupled with QRIF’s ‘whole of system’ investment philosophy, directly tackles the critical infrastructure needs and enablers for a stable transition to a decarbonised power system.”
Mark Burrows, Quinbrook’s head of Europe, capital formation and investor engagement, said: “Strong macro tailwinds are supporting QRIF’s investment strategy, with the confluence of societal will, political imperatives which are cross-party in the UK and fundamental economics driving decarbonisation of power.
“Furthermore, investors have responded to the genuine and tangible impact delivered by QRIF’s focus on the development, construction and long-term operation of new infrastructure projects.”
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