Quinbrook Infrastructure Partners UK limited

Renewable Energy Specialists

Renewable Energy Specialists

Quinbrook Infrastructure Partners, is a specialist global investment manager focused exclusively on the infrastructure needed to deliver the energy transition, and strives to be a leader in decarbonisation.

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uinbrook Infrastructure Partners (“Quinbrook” or the “Company”) brings an industrial perspective to investing in renewable and decarbonisation infrastructure, leveraging the three decades of experience its senior team of professionals have gained from investing collectively over USD 8.2 billion in energy infrastructure assets, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity.

Quinbrook aims to protect and enhance the value of invested assets for the long-term benefit of its investors through the proactive identification and management of environmental, social, climate change and corporate governance aspects of those investments. However, Quinbrook’s sustainability and impact objectives extend beyond this to local job creation, regional economic benefit, greater community engagement, and reduced environmental impacts from the daily operation of portfolio assets.

The Company is currently developing and constructing some of the largest renewables and storage infrastructure projects undertaken in the UK, US, and Australia (such as Project Gemini), and is striving to operate at the forefront of the unprecedented and accelerating energy transitions through a number of industry-leading investments and initiatives.

PROJECT GEMINI - LARGEST SOLAR AND STORAGE PROJECT IN US HISTORY WHEN PPA SIGNED1 690 MW solar PV and 380 MW Bess – land area equivalent to approximately half of Manhattan Island, requiring 1.8 million solar panels

SUSTAINABLE UK ENERGY In the UK, Quinbrook is focusing on opportunities arising from the accelerated decarbonisation of power (target of 100% decarbonised power by 2035, and 95% low carbon power by 20302) and the broader net zero transition. High energy prices, geopolitical instability, and the UK’s ambitious net zero goals are bringing into focus the critical need to accelerate the building of the next generation of energy transition infrastructure.

With aging UK coal, gas, and nuclear plants soon to be retired, significant long-term capital investment in replacement renewable supply infrastructure, battery storage, smart grid, and related businesses will be needed just to maintain levels of supply3. Quinbrook views the need for new infrastructure as an opportunity to deliver measurable ESG impact from asset creation to optimisation, which it considers fundamental to any ‘high-impact’ focused investment thesis.

Large-scale solar and battery storage projects are key to achieving the decarbonisation imperatives of the energy transition all over the world4, and Quinbrook via delivery of Project Gemini and Project Fortress (the UK’s first nationally significant solar and storage project) is endeavouring to create a blueprint for projects in the UK to come as the UK seeks to triple solar capacity by 20305.

Just as importantly, Quinbrook is committed to doing this in a way that is truly impactful in supporting jobs and delivering a range of tangible benefits to the local community.

“Our commitment to sustainability, ethics, and responsible stewardship extends to our diverse stakeholder community and the numerous communities where our ventures operate.”

Project Fortress – Site Visualisation

The huge scale of projects such as Fortress is set to provide a meaningful contribution to improving the UK’s energy security and further decarbonising the power grid, helping to progress the country’s journey to net zero9. Further, these new build projects are able to generate additional environmental impact outside of decarbonisation of the power system, as going forward all UK infrastructure projects post November 2023 will be required to increase biodiversity by 10% to secure planning consent10.

However, the ongoing energy transition presents challenges in terms of grid stability. Historically, grid stability in the UK’s power systems has been maintained by large synchronous power plants predominantly fuelled by carbon-intensive coal and gas. As a result of the energy transition, these older fossil plants are being phased out and non-synchronous renewable generators, such as wind and solar, pose new reliability challenges as they do not possess the same grid stabilising properties. Due to the rapid proliferation of renewables across the UK, National Grid launched the Pathfinder Programme to source new ways to provide critical grid stability services11. National Grid’s Stability Pathfinder program offers indexed, long-term contracts to secure essential grid support services from assets such as synchronous condensers.

UK’S FIRST Nationally Significant Solar + Storage Project6

LARGEST UNDER CONSTRUCTION Solar + Storage Project In UK8

Project Fortress – UK’s Largest Under Construction Solar & Storage Project

PROJECT FORTRESS

AT 373 MW solar PV, when consented Project Fortress was >3x times the UK’s next largest consented solar PV project7

FORTRESS TO DELIVER a biodiversity net gain of 65% across 140 acres of the site

INVESTING IN THE FUTURE In addition to its investment in projects in the UK, Quinbrook has invested in a growing portfolio of innovative UK businesses that directly support the energy transition in important areas, such as Flexitricity and Habitat Energy. These entrepreneurial businesses founded in the UK, reinforce Quinbrook’s strategic moves into the supply of critical flexible capacity, grid support infrastructure and intelligent battery storage optimisation that together enable more variable and weather-dependent renewables to be built as the UK looks to secure its long-term energy supply and seize the opportunities of Net Zero.

In its Future Energy Scenarios 2023, National Grid highlighted the importance of utilising electricity storage, and demand side flexibility, to deliver a balanced whole energy system15. Habitat Energy16 and Flexitricity17 are leaders in these sectors, and are considered by Quinbrook to be well positioned to capitalise on the growth projected by National Grid in both the storage and demand response as the Country continues to decarbonise.

By supporting the UK grid in managing the challenges presented by a massive scale-up in intermittent wind and solar, Quinbrook is able to deliver high-impact investments that enable ever more renewable energy capacity to be built and carbon emissions abated.

Quinbrook considers that this is the only way the UK’s success to date in decarbonising its power sector can continue at the rapid pace that is needed for its net zero goals.

Additionally, decarbonisation has a much broader responsibility to minimise environmental harm, and Quinbrook endeavours to support the areas in which its assets reside. Such initiatives have included the creation of collocated pollinator habitats, supporting local farmers, recycling and reusing assets such as batteries and solar panels, stopping the usage of native timber and food sources land for biomass, and minimising water use through better design.

Ultimately, Quinbrook believes that better stewardship and deliberate sustainable impact practices are inherently tied to both capital protection and value growth.

UK’S LARGEST PORTFOLIO OF SYNCHRONOUS CONDENSERS CONTRACTED TO NATIONAL GRID12 QUINBROOK HAS SECURED a portfolio of 7 synchronous condensers, each supported by a stability pathfinder contract with National Grid THE 7 PROJECTS are located across England, Scotland and Wales ONCE OPERATIONAL the 4 Scottish projects are able to provide the equivalent capacity to >600MW of thermal (coal/gas) MVA SCL13 THE FIRST PROJECT in Quinbrook’s portfolio, was the only non utility project to secure a contract in stability pathfinder phase 1 and was the first new build project in stability phase 1 to be fully operational14 EQUIPMENT SPECIFICATION and procurement for the delivery of the synchronous condensers prioritised local contractors and specialists.

Once operational, Quinbrook’s total synchronous condenser portfolio is expected to have supported over 1,500 jobs in Levelling Up Priority 1 regions across the UK.

https://www.blm.gov/press-release/interior-approves-plan-largest-solar-project-us-history 2 https://www.gov.uk/government/news/major-acceleration-of-homegrown-power-inbritains-plan-for-greater-energy-independence 3 Aurora “Great Britain Power and Renewables Market Forecast” October 2023 4 https://www.iea.org/reports/net-zero-by-2050 https://www.ft.com/content/60a90c04-f7ea-4a20-ba07-00ca6abced86 6 gateleyplc.com/insight/case-studies/advising-on-cleve-hill-the-first-solar-park-delivered-by-dco/ 7 BNEF country database accessed July 2023 8 BNEF country database accessed July 2023 9 https://www.ft.com/content/60a90c04-f7ea-4a20-ba07-00ca6abced86 10 https:// naturalengland.blog.gov.uk/wp-content/uploads/sites/183/2022/04/BNG-Brochure_Final_Compressed-002.pdf 11 www.nationalgrideso.com/future-energy/projects/pathfinders/ stability 12 www.nationalgrideso.com/future-energy/projects/pathfinders/stability/Phase-3; www.nationalgrideso.com/future-energy/projects/pathfinders/stability/Phase-1; and www.nationalgrideso.com/future-energy/projects/pathfinders/stability/Phase-2 13 www.nationalgrideso.com/document/238741/download; 14 nationalgrideso.com/future-energy/ projects/pathfinders 15 National Grid ESO “FES 2023” July 2023 16 Habitat Energy Performance Metrics based on LCP Enact Data, April 2022 – June 2023, Capacity weighted average income (GBP/MWh/year) 17 https://www.nationalgrideso.com/document/170431/downloadlexitricity created the first demand response portfolio in GB 1

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+44 207 818 8600 | info@quinbrook.com | www.quinbrook.com |

QUINBROOK INFRASTRUCTURE PARTNERS info@quinbrook.com www.quinbrook.com

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