Quinbrook Advances UK’s Largest Synchronous Condenser Portfolio with £156M Financing and Final Scottish Project Launch
Quinbrook, a specialist investment manager focused exclusively on delivering the infrastructure needed for the energy transition, today announced two significant milestones in the advancement of its synchronous condenser portfolio: a £156 million debt financing package for the synchronous condensers in its Severn portfolio and the commencement of operations at its Neilston synchronous condenser project in West Central Scotland.
“As the UK increasingly relies on power generated by renewable sources to meet its energy needs, synchronous condensers provide the essential grid support and reliability required to maintain stable operations,” said Keith Gains, Managing Director and UK Regional Leader for Quinbrook. “Each of Quinbrook’s synchronous condenser sites were strategically chosen for their proximity to existing substations and where grid stability services were most needed as coal and gas plants are retired. The technology delivers the stability services required in the absence of traditional thermal generation, underpinned by contracted long-term revenue streams.”
Quinbrook Completes Severn Portfolio Project Financing
The project financing for the Severn portfolio, which is comprised of the Cilfynydd project in South Wales and the Sellindge project in Kent, was led by a consortium of Standard Chartered, Barclays and Siemens Financial Services through Siemens Bank.
Cilfynydd and Sellindge are both currently under construction and are expected to be completed in 2027 and 2028 respectively. Quinbrook was awarded the contracts for Cilfynydd and Sellindge under Phase 3 of the National Energy System Operator (NESO) Pathfinder programme, which offers fully inflation linked revenue contracts supporting the construction of new infrastructure aimed at improving grid stability. Once these projects reach commercial operations, they are expected to provide a combined 2,531 MVA of short circuit level.
Advisors to Quinbrook were Norton Rose Fulbright (legal) and Nomura Greentech (financial).
Neilston Achieves Commercial Operations, Quinbrook’s First Irish Synchronous Condenser Starts Construction
Neilston was one of ten projects awarded a contract under Phase II of the Pathfinder programme and is the fourth and final synchronous condenser project under that contract and in Quinbrook’s “Scottish Portfolio” to reach operations, joining projects in Thurso, Gretna, and Rothienorman.
Quinbrook secured over half of the total contract value of the Pathfinder II programme across four synchronous condensers in its Scottish Portfolio. Quinbrook, and its development partner, Welsh Power, commenced construction of Neilston in 2023.
In addition, Quinbrook has commenced construction on its Irish synchronous condenser project, a 963 MVAs facility located in County Wexford. Acquired in June 2025, the Wexford project is Quinbrook’s first investment in the Republic of Ireland.
“Bringing a fifth synchronous condenser online, breaking ground on our first Irish investment, and completing our second synchronous condenser project financing in just a few short years is a tremendous accomplishment for the Quinbrook team,” added Gains. “We are proud of the work we are doing to support National Grid and the UK government’s broader energy transition goals.”
Quinbrook is the largest private owner of synchronous condensers in the UK, with seven total assets across Scotland, Wales and England that are either operational or under construction. Once built and operational, Quinbrook’s portfolio of synchronous condensers represents a capital investment of over GBP 500 million and are estimated to have supported over 1,500 jobs throughout the projects’ local communities, including in regions identified as Priority 13 by the Government’s Levelling Up Fund’s Index of Priority Places.
About Quinbrook
Quinbrook is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition. Led and managed by a senior team of energy industry professionals, Quinbrook is an accomplished asset creator and business builder that conceives, develops, constructs and operates a diverse array of innovative infrastructure projects and growth platforms. Since its founding in 2015, Quinbrook has invested in over 40 GW of energy infrastructure assets and businesses representing a total transaction value exceeding USD 27 billion spanning large-scale renewable power generation, biofuels production, long duration storage, hyperscale data centre infrastructure, AI powered asset optimisation, grid support and flexibility solutions in North America, the UK/Ireland and Australia.
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