$300M Fund Launches to Power Australia-NZ Clean Energy

A powerful new clean energy player just entered the Australia-New Zealand market with serious backing and even bigger ambitions.

I Squared Capital launched ANZA Power this week with $300 million dedicated to building solar farms, battery storage systems, and backup power across both countries. The goal is simple: deliver clean energy that's actually reliable when customers need it most.

The investment firm isn't starting small. ANZA Power already has 80MW of solar projects locked in across Victoria and New South Wales, secured by 20-year agreements with a major tech company. Another 80MW of renewable projects will break ground in the first half of 2026.

What makes this different from typical green energy announcements is the focus on reliability. ANZA Power combines solar panels with massive battery systems that store energy for cloudy days and nighttime use. For businesses worried about blackouts during the clean energy transition, this addresses a real concern.

The timing couldn't be better. Australia's grid-scale solar hit record highs in late 2025, averaging 1,699MW in the National Electricity Market. Battery storage grew even faster, with capacity jumping 150% year over year.

Across the Tasman Sea, New Zealand's solar capacity is forecast to triple from 715MW today to 1,800MW by 2030. That's 20% growth every year, creating massive demand for energy storage solutions.

I Squared Capital brings serious credentials to the table. Since 2014, the firm has invested $7 billion in energy transition projects worldwide. Their portfolio includes over 10,000MW of renewable capacity across multiple continents.

Senior partner Harsh Agrawal explained the strategy: "ANZA Power was purpose-built to address this challenge. By combining renewable energy generation, battery storage and flexible gas power generation within a single platform, we aim to deliver clean power that is available when customers need it most."

The Ripple Effect

This investment signals growing confidence that clean energy can power industrial economies without compromising reliability. For years, critics argued renewables couldn't handle baseload power demands. Projects like ANZA Power prove that solar plus storage can keep factories running and lights on 24/7.

The commercial focus matters too. By securing long-term contracts with major customers, ANZA Power creates revenue certainty that enables even more investment. It's a virtuous cycle: stable income funds bigger projects, which drive down costs, which attract more customers.

Local communities benefit from construction jobs, ongoing maintenance work, and cleaner air. Australia and New Zealand are both racing toward net-zero emissions targets, and utility-scale solar moves the needle faster than almost any other solution.

As renewable energy becomes the cheapest and most reliable option, the energy transition stops being a sacrifice and starts being smart business.