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Stonepeak: Global Renewables Fund I

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.

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Investment

$10 million; originated in 2020

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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.

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Returns

Too early to evaluate; the fund is in the capital deployment stage.

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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

English