Quinbrook Infrastructure Partners has entered binding contracts for the sale of its portfolio company, Scout Clean Energy, to Brookfield Renewable for $1 billion in cash on completion.
Quinbrook acquired Scout as a startup in 2017 for an initial investment of $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 U.S. 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 1.2 gigawatts of operational wind projects in four states, including 400 megawatts managed on behalf of third parties, and plans to deliver m