Quinbrook Infrastructure Partners sells Energy Locals to a consortium led by Palisade Impact
Type: Sale · Technology: Other · Country: Australia · Announced: 2024-11-04
Quinbrook Infrastructure Partners sold Australian energy retailer Energy Locals, featuring a substantial customer base and virtual power plant (VPP) capabilities, to a Palisade Impact-led consortium. This acquisition accelerates Palisade Impact.
Analysis
Quinbrook Infrastructure Partners has sold Australian energy retailer Energy Locals to a consortium led by Palisade Impact, a transaction announced on 2024-11-04. This divestment by Quinbrook, a specialist investor in energy transition infrastructure, strategically shifts an operational asset featuring a substantial customer base and virtual power plant (VPP) capabilities. Quinbrook, which focuses on creative investing to accelerate the shift to cleaner energy, exits an asset that has likely matured within their portfolio. For Palisade Impact, managing over A$700 million across two impact infrastructure funds, this acquisition directly accelerates their investment in renewable energy. Energy Locals, an Australian electricity retailer serving residential and business customers across multiple states, specializes in renewable energy plans and facilitates community energy projects, fitting Palisade Impact's mandate for sustainable infrastructure assets. Quinbrook Infrastructure Partners, established in 2016 and overseeing over $5 billion in assets under management, focuses on lower carbon and renewable energy infrastructure. Their divestment of Energy Locals, an Australian electricity retailer, aligns with their creative investing approach to accelerate cleaner energy, potentially allowing for reinvestment into new development and build projects. Palisade Impact, managing over A$700 million across two impact infrastructure funds, invests specifically in renewable energy, sustainable agriculture, and social infrastructure assets. This acquisition of Energy Locals, an Australian entity specializing in renewable energy plans and community energy projects, significantly bolsters Palisade Impact's portfolio within the Australian renewable energy landscape. The transaction, involving an Australian energy retailer with virtual power plant capabilities, demonstrates a market focus on integrated renewable energy solutions and customer-facing platforms in Australia.
Key points
- Quinbrook Infrastructure Partners manages over $5 billion in assets under management.
- Palisade Impact manages over A$700 million across two impact infrastructure funds.
- Energy Locals features virtual power plant (VPP) capabilities.
- Quinbrook Infrastructure Partners was founded in 2016.
- The deal was announced on 2024-11-04.
Counterparties
- Quinbrook (Seller)
- Energy Locals (Parent Company)
- Palisade Impact (Buyer)
- Quinbrook Infrastructure Partners (Seller)