UPP Invests in Data Centre Developer Rowan Digital Infrastructure

Toronto / New York – August 13, 2024 – Quinbrook Infrastructure Partners (“Quinbrook”) and University Pension Plan Ontario (“UPP”) today announced that UPP has completed a co-investment in a Quinbrook portfolio company, Rowan Digital Infrastructure (“Rowan”). This investment builds on a partnership initiated in 2023 with UPP’s investment to Quinbrook’s Net Zero Power Fund. The financial terms of these transactions were not disclosed.

Rowan was established in 2020 to provide ‘turnkey’ solutions for US-based hyperscale data centre users, or digital businesses requiring data centres engineered for large-scale workloads, infrastructure scalability, and streamlined network connectivity. Rowan’s flexible build-to-suit offering delivers customized and configurable solutions that provide its customers the ability to scale fast and help meet their energy needs from renewable sources.

Quinbrook, a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, is developing and constructing some of the largest renewable power generation and storage infrastructure projects in the UK, US, and Australia. UPP’s investment in Rowan will allow Quinbrook to further advance its efforts to provide innovative solutions that help support the net-zero transition in high growth, energy-intensive industries.

“We are thrilled that UPP shares our focus on investing in energy infrastructure that helps support the net-zero transition and are very pleased to welcome them as a co-investor in Rowan, and to our broader infrastructure platform,” said John Lucas, Managing Director and North America regional lead for Quinbrook. “The large load requirements of new-build data centres means that there is likely to be increasing investment in and demand for data centres powered by renewable energy. Rowan’s platform has been built and well placed to capture hyperscale customers’ demand for ‘build ready’ sites powered by renewable energy solutions.”

UPP’s investment in Rowan, an asset with inflation-hedging characteristics, aligns with UPP’s strategy to offer members pension security while reducing inflation risk. It also contributes to UPP’s 2030 target to invest or commit $1.2 billion in climate solutions, which are companies, assets, and technologies that can help mitigate the impacts of climate change or adapt to a changing climate.

“We are excited to partner with Quinbrook in their mission to support the transition to a net-zero future, in line with our own climate-related commitments. Beyond adding important inflation-hedging properties to UPP’s investment portfolio, our investment in Rowan Digital Infrastructure provides a unique opportunity to help fund the critical infrastructure required for the growth of data centres with renewable energy sources,” said Peter Martin Larsen, Senior Managing Director, Head of Private Markets at UPP. “This partnership underscores UPP’s dedication to making investments with strong and stable long-term returns for our members that can contribute to the decarbonization of key industries and the wider economy.”

More information about Quinbrook’s renewable energy strategy is available at www.quinbrook.com. To learn more about UPP’s investment strategy and Climate Action Plan, visit myupp.ca.

About Quinbrook

Quinbrook Infrastructure Partners (www.quinbrook.com) is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c. USD 5.6 billion of equity capital in 43.3 GW of energy infrastructure assets representing a total transaction value of USD 48.3 billion. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the UK, US, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects in the UK, US, and Australia.

About University Pension Plan Ontario (UPP)

University Pension Plan Ontario (UPP) is a jointly sponsored defined benefit pension for Ontario’s university sector. UPP manages CAD$11.7 billion in pension assets and proudly serves over 40,000 members across four universities and 14 sector organizations. UPP is growing a resilient fund to secure pension benefits for members today and for generations to come and is open to all employers and employees within Ontario’s university community. For more information, please visit myupp.ca.

Media Contacts

Quinbrook
Jennifer Pflieger
+1 (212) 446-1866
[email protected]