Energy transition-focused investor Quinbrook Infrastructure Partners announced today the final close of its Quinbrook Renewables Impact Fund II (QRIF II), raising £587 million (USD$784 million) in commitments for the UK-focused renewables infrastructure strategy, well ahead of the fund’s £500 million target.

According to Quinbrook, QRIF II targets investments in renewable energy and storage that advance decarbonization, improve security of energy supplies, and provide critical grid support across the UK and Ireland, with a focus on delivering the infrastructure required to support the UK’s Clean Power 2030 targets and Ireland’s target of meeting 80% of electricity demand from renewable sources by 2030.

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

“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.”

The company said that the QRIF II portfolio is already well advanced and features long-term, inflation-linked contracts. Investments to date include the 373 MW Mallard Pass Solar Project in England’s East Midlands, clean energy refueling platform Aegis Energy, and Project Norton, a 65MW solar and 41MW battery storage facility in Stockton-on-Tees.

The prior vintage of the fund, QRIF I, closed in October 2023 at €620 million.

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

“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.”