Renewa Lands $450M from QIC for Renewable Infrastructure Investments

Renewa, a land and infrastructure investor in the renewable energy industry and portfolio company of investment manager QIC, raised $450 million to support its growth in the US renewable energy market.

The round was led by QIC. In addition to the funding, QIC appointed energy industry veterans Mark Noyes, Peter Tumminello and Natalie Jackson as independent directors for the company.

Houston, TX-based Renewa is led by co-CEOs Stephen Lee and Gage Mooring. The company is focused on acquiring land and leasing it out to utility-scale wind, solar, storage and other infrastructure projects.

“The transition to renewable energy takes innovation, financial commitment, policy leadership and arguably the most critical element – land,” said Lee.

Since QIC’s investment in 2022, Renewa has significantly expanded its portfolio. The company owns land and ground leases under more than 130 renewable energy facilities across the US. The land under the specific projects houses renewable power plants operated by companies such as Acciona, Duke Energy, Enel, Leeward Energy, Lightsource bp and NextEra Energy in 26 states.

Renewa estimates that the renewable power capacity installed on its ground lease assets will offset around 5 million tons of carbon dioxide (CO2) emissions this year, equivalent to taking approximately 1 million passenger cars off the roads.