Q-Energy secures EUR1.1bn final close for its fourth fund

Q-Energy has secured the final close for its fourth fund, Q-Energy IV, with EUR1.1 billion (US$1.3 billion) total commitments. The company held the EUR360 million first close of its fourth fund in July 2020, two months since it was launched. The fund exceeded the initial target of EUR800 million (US$949.8 million), securing a final close with investments from European Union countries, the Americas, as well as Asia, and Australia.

Q-Energy IV will focus on developing new renewable plants, the repowering, and modernization of assets at the end of their useful life, as well as on securing the operational and financial optimization of large plants in countries within the European Union. Additionally, the Fund will undertake other investments related to the energy transition such as energy storage, grid network management, hydrogen production, and biofuels.

The fund has already started investment deployment throughout the fundraising period. Close to 60% of the fund has been invested or committed to wind, solar photovoltaic (PV), or concentrated solar projects (CSP), located in Germany, Poland, Italy, and Spain. 

Q-Energy has been advised by Linklaters (Tax Advisor), Cuatrecasas (Legal Advisor), EY, and FirstPoint Equity (Placement Agent).