Quinbrook acquired the United States-headquartered Scout as a start-up in 2017 for an initial investment of just US$6 million.
A partnership was established with Scout’s founder and chief executive Michael Rucker to create a large-scale, vertically integrated wind power producer focused on the development, construction, ownership and operational management of large-scale wind power assets diversified across multiple U.S. states and power markets.
Over that period, Quinbrook deployed a further US$470 million of equity capital from its managed funds and spearheaded the rapid growth of Scout into a fully integrated developer, owner and operator of a diverse and multi-technology asset portfolio spanning 1,200 MW of operational wind projects in four states, including 400 MW managed on behalf of third parties, and plans to deliver over 22 GW of wind, solar and storage projects across 24 states by the end of this decade. Of these projects, 8.6 GW have interconnection queue positions and 2,500 MW are in late-stage development with pending construction starts.
David Scaysbrook, co-founder and managing partner of Quinbrook commented, “Building Scout from a start-up into the significant and successful business it is today has been a five-year long commitment by the Quinbrook team working in a close partnership with Michael and Scout management.
“This venture was a resounding success on many levels. Scout hosts a remarkable collective of professionals, and we are proud of all that we have accomplished together.
“We have exceeded our plans for investor value creation by sponsoring Scout from its infancy, and now is the right time for us to hand the business on for its next growth chapter. We fully expect Scout to feature prominently in the US renewables landscape in the coming years.”
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