Quinbrook Infrastructure Partners (Quinbrook), a specialist investment manager focused exclusively on new infrastructure needed for the energy transition, is to sell its portfolio company, Scout Clean Energy (Scout), to Brookfield Renewable for c$1 billion in cash on completion.
Quinbrook acquired Scout as a start-up in 2017 for an initial investment of just $6 million. A partnership was established with Scout’s founder and CEO Michael Rucker to create a large-scale, vertically integrated wind power producer focused on the development, construction, ownership and operational management of large-scale wind power assets diversified across multiple US states and power markets.
Over that period, Quinbrook deployed a further $470 million of equity capital from its managed funds and spearheaded the rapid growth of Scout into a fully integrated developer, owner and operator of a diverse and multi-technology asset portfolio spanning 1,200 MW of operational wind projects in four states, including 400 MW managed on behalf of third parties, and plans to deliver over 22 GW of wind, solar and storage projects across 24 states by the end of this decade. Of these projects, 8.6 GW have interconnection queue positions and 2,500 MW are in late-stage development with pending construction starts.
Read more: Private Equity Wire
