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Quinbrook Signs Sale Agreements for Energy Locals with Consortium Led by Palisade Impact
BRISBANE, QUEENSLAND: AUSTRALIA – 4 November 2024 – Quinbrook Infrastructure Partners (“Quinbrook”), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, today announced the signing of sale agreements for its portfolio company, Energy Locals, to a consortium led by Palisade Impact.
Quinbrook identified very early the key role community energy networks play in accelerating the energy transition through enabling new approaches to energy distribution and sustainability, and the journey of Energy Locals is a testament to Quinbrook’s commitment to active management and value creation. From concept to this pivotal agreement we have worked closely with the management team to develop a unique business model that is well positioned to continue to grow and deliver a cleaner energy future for its customers. The consortium led by Palisade Impact are natural stewards to drive the company into its next phase and we wish them continued success.
Co-Founder and Managing Partner of Quinbrook
A core advantage of Energy Locals business model as a community energy network is its ability to unlock access to energy-efficient infrastructure and advanced technologies for occupants of multi-dwelling properties, making sustainable energy solutions more affordable for residents and businesses given that all customers pay a price for their electricity that is at or below the government-set default offer.
“We are proud of the achievements made by the Energy Locals team to date. Their focus on energy transition has delivered real benefits to local communities and residents, as well as to the leading brands that the company supports in their own energy transition objectives. As Energy Locals moves forward with Palisade Impact, we are confident in their ability to continue to invest in this exciting growth sector. Their alignment with our vision for sustainable energy access reassures us that the business is in excellent hands,” said Brian Restall, Managing Director and Regional Leader for Australia at Quinbrook.
“We are excited about the opportunity provided by our investment in Energy Locals. It has all the characteristics we look for in a business – environmental impact, a strong management team and robust infrastructure characteristics. The quality of Energy Locals is testament to the capability and passion of the staff and Quinbrook’s vision and active management. We look forward to working with the Energy Locals’ team and clients in continuing to grow the business and ensuring more Australians can access more affordable green energy,” said Steve Gross, Co-Founder and CEO of Palisade Impact.
As a recognised green energy retailer, Energy Locals focuses on delivering carbon-neutral energy solutions, transparency, and affordability. The company’s unique model and approach have been acknowledged by several industry awards, including multiple Mozo Expert Choice Awards and Finder’s Green Energy Retailer of the Year awards.
The transaction is expected to reach financial close by the end of 2024.
About Quinbrook
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c. USD 5.6 billion of equity capital in 43.3 GW of energy infrastructure assets representing a total transaction value of USD 48.3 billion. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the UK, US, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects in the UK, US, and Australia.
Media Contact:
Natasha Moldrich
Honner
+61 404 863 267
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