Qualitas Energy, a global investment and management platform focused on investments in renewable energy, the energy transition and sustainable infrastructure, has oversubscribed its flagship fund, Q-Energy Fund V, with an original target size of €1.6 billion, to almost €2.4 billion. This puts the fund above the hard upper limit of EUR 2.3 billion.
QE V is thus one of the largest renewable energy funds in Europe and the largest private market fund in Spain, where the company began operations in 2006.
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With the fund, Qualitas Energy has increased its fundraising capacity by almost 1000%. While Q-Energy Fund I raised 214 million euros in 2006, it has now raised almost 4 billion euros in the last five years alone.
Investors from more than 30 countries
More than 800 investors from all over the world have participated in the fund. It is not only the former investors who have almost completely re-entered the fund. The management team has also invested beyond the usual market standard.
This growth was driven by a global diversification of the investor base, characterised by the entry of more than 30 new institutional investors. These include pension and insurance funds, global consultants, university foundations and asset managers. This broad investor group also includes family offices and a wide range of individual investors. They come from more than 30 countries in Europe, the Americas and the Asia-Pacific region, which represents an increase of more than 50% compared to the previous QE IV fund.
Already a foothold in Chile
The fund's investment strategy targets renewable energy plants that are either in operation or under development. These include plants with repowering potential and other infrastructure projects for the energy transition, primarily in Europe. In Germany alone, Qualitas Energy plans to expand its portfolio to a capacity of over 6 GW over the next few years.
Entering the American market is easy for QE V: In Chile, Qualitas Energy has already acquired a run-of-river power plant and a photovoltaic portfolio and opened a branch office in Santiago.
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The strength of QE V builds on the success of its predecessor funds. The Qualitas Energy team has more than 17 years of experience and unrivalled technical and operational expertise. With its targeted, country-specific investment strategies, the team has succeeded for years in achieving above-average returns for its investors and minimising operational and financial risks.
11 gigawatts of assets and 11 billion euros invested
In addition, Qualitas Energy has experienced in-house teams dedicated to the development, EPC (Engineering, Procurement and Construction), operation and maintenance, asset management and energy management of the global portfolio. This gives the company a unique selling point in the market.
In its almost two decades of existence, Qualitas Energy has managed more than 11 gigawatts of assets and invested a total of over 11 billion euros in the energy transition.
The partners involved for QE V were Campbell Lutyens as the placement agent, KWM as legal advisor, Linklaters as tax advisor and EY as global auditors. (mfo)
