Renewable energy-focused investor Quinbrook Infrastructure Partners announced that it has raised $3 billion for its Net Zero Power Fund (NZPF), aimed at targeting energy transition infrastructure opportunities.

The announcement marks Quinbrook’s largest closing to date, with the fund exceeding its initial target. According to Quinbrook, more than half of the proceeds have already been invested and committed, and the company expects funds to be fully committed within the next 12 months.

NZPF invests in series of energy transition themes, including from large scale solar+storage, sustainable infrastructure solutions for hyperscale data center customers, renewable fuels production, synchronous condensers providing direct grid support, and contracted battery storage in strategic locations in the U.S, U.K., and Australia.

NZPF is Quinbrook’s fifth energy-transition-focused fund raised to date. The fund attracted new institutional investors from the U.S., Canada, Australia, U.K., Sweden, Norway, Finland, and the EU, including a mix of pension, sovereign, and insurance institutions along with a number of funds, endowments, and family offices.

David Scaysbrook, Co-founder and Managing Partner, Quinbrook, said:

“We seek higher ‘value add’ returns from infrastructure opportunities offered by the energy transition that enable us to secure long term contracted revenues from top tier customers. We have demonstrated a consistent ability to move early into highly prospective sectors whether it be mega scale solar+storage projects, sustainable infrastructure solutions for hyperscale data centers, AI optimisation of battery storage or synchronous condensers for critical grid support where in each case we are staying ‘true to label’ as a specialist infrastructure investor and manager.”

Investments from the NZPF strategy to date include Australia-based Battery Energy Storage System (BESS) Supernode Storage Project, Rowan Digital Infrastructure, a U.S.-based developer of sustainable infrastructure solutions for hyperscale data center operators, and Project Severn, a U.K. portfolio of two synchronous condensers located in Kent, England and in South Wales that will provide critical grid stability once operational.