I Squared Capital Launches ANZA Power with $300M Bet on Australia-New Zealand Clean Energy — I Squared Capital

Event summary

I Squared Capital has launched ANZA Power, an independent power producer (IPP) focused on Australia and New Zealand, with a $300 million commitment from its ISQ Growth Markets Infrastructure Fund II.
ANZA Power acquired a portfolio of solar hybrid plants and battery energy storage systems (BESS), including 80 MWac/320MWh of solar hybrid plants in Victoria and New South Wales under long-term contracts with a tier-1 hyperscale customer.
The platform will develop, own, and operate an integrated mix of renewable generation, battery storage, and flexible gas power generation to deliver 24/7 energy solutions for industrial customers.
ANZA Power plans to begin construction of additional 80 MW of renewable assets across Australia and New Zealand in the first half of 2026.

The big picture

I Squared Capital's launch of ANZA Power underscores the growing demand for reliable, low-carbon energy solutions in Australia and New Zealand. The $300 million commitment reflects a strategic bet on the region's dual imperative of decarbonization and grid resilience. With over 10,000 MW of renewable capacity and 15,000 MW of natural gas-powered generation in its global portfolio, I Squared is positioning ANZA Power to leverage its extensive experience in the energy transition.

What we're watching

Execution Risk: Whether ANZA Power can scale its integrated energy solutions while maintaining grid resilience and meeting the operational needs of industrial customers.
Market Dynamics: How the pace of renewable asset construction in Australia and New Zealand will impact ANZA Power's growth and competitive positioning.
Regulatory Headwinds: The potential influence of regulatory changes on ANZA Power's ability to deliver clean, dispatchable power while supporting broader system stability and emissions reduction.