Type: High Impact Investments, Real Assets
Topic: Renewable Energy
Status: Current
Stonepeak Infrastructure Partners is a private equity fund invests in late-stage development and construction-stage solar and wind assets in North America and Developed Asia Pacific (Japan, Korea, and Taiwan). With renewables poised to meet most future capacity needs, Stonepeak hopes to take advantage of the moment and help prevent ongoing reliance on imported coal and fossil fuel.
Investment
$10 million; originated in 2020
Rationale
While McKnight has historically avoided conventional real-asset investments in real estate and fossil energy, our new sustainability lens pushes us to identify safe, long-lasting opportunities to build the world in which we want to live. This fund signals a broader shift among investors in traditional-energy infrastructure to cleaner opportunities in late-stage solar and wind development projects worldwide. It will also help local and national governments achieve their ambitious clean-energy goals.
Returns
Too early to evaluate; the fund is in the capital deployment stage.
Lessons Learned
Too early to report
Photo Credit: RawFilm on Unsplash.
Disclaimer of Endorsement: The McKnight Foundation does not endorse or recommend any commercial products, processes, or service providers.
Last updated 10/2021