Foresight Energy Infrastructure Partners II (FEIP II) 

Foresight Energy Infrastructure Partners II (FEIP II) is a mid-market private infrastructure fund focused on the energy transition, investing in assets that support the shift to low-carbon and decarbonised energy systems.

The strategy targets opportunities across renewable energy, energy storage and enabling infrastructure, with a focus on assets that help address key challenges such as grid constraints and system flexibility.

FEIP II primarily invests in development and construction-stage projects across Europe and other selected developed markets, with active management used to create long-term value as assets are built and scaled.

FEIP II invests in a diversified range of energy transition infrastructure assets, including renewable energy generation, energy storage and grid infrastructure.

This includes technologies such as onshore wind and solar, battery storage systems and electricity networks, with a focus on assets that enable the integration, flexibility and reliability of low-carbon energy systems.

By targeting these parts of the energy system, FEIP II focuses on infrastructure that helps address key bottlenecks - such as intermittency and grid constraints - and plays a critical role in accelerating the transition to net zero.

FEIP II differs from traditional renewable energy funds by investing across a broader range of energy transition infrastructure, rather than focusing only on electricity generation such as wind and solar.

In addition to renewable generation, the strategy targets assets that address critical system challenges, including energy storage and grid infrastructure, which are essential for managing intermittency, grid capacity and system flexibility.

FEIP II also invests across multiple stages of the asset lifecycle, particularly in development and construction projects, where active management can help unlock value. This wider scope allows the fund to target opportunities created by bottlenecks in the energy system, rather than relying solely on generation assets.

FEIP II primarily targets greenfield energy infrastructure, investing in assets at the development and construction stages before they become operational.

This includes early-stage projects such as renewable energy, battery storage and grid infrastructure, where capital and expertise are needed to bring assets from concept through to delivery.

By focusing on these earlier stages of the asset lifecycle, FEIP II can use active management to unlock value, capture development premiums and shape projects to meet the needs of low-carbon, flexible energy systems.

FEIP II generates returns through a combination of development value creation, long-term contracted revenues and active asset management.

At earlier stages, value is created by originating, developing and constructing energy infrastructure assets, capturing development premiums as projects move from concept to operation. Once operational, assets can generate stable, long-term cash flows, typically supported by power purchase agreements (PPAs), capacity contracts or other revenue frameworks.

FEIP II also includes a minority allocation to operational assets. The strategy is designed to deliver an element of yield to investors, with these investments typically made early in the fund’s life to help generate initial cash flow.

Additional value is driven through asset optimisation, including improving performance, managing costs and adapting assets to evolving energy system needs, particularly in areas such as storage and grid flexibility.

FEIP II focuses primarily on greenfield energy infrastructure, investing in development and construction projects and seeking to optimise risk-adjusted returns through active management. While these stages can carry greater execution risk than operational assets, Foresight has a track record of successfully bringing assets from concept to operation. 

Risk management is supported by Foresight's active asset management approach, in-house construction and technical expertise, and deep origination capabilities. Investments are made across multiple sectors, geographies and stages, helping to build diversified portfolios rather than relying on a single project or market. The strategy combines value creation through development with a disciplined approach to portfolio construction and oversight, supported by a 188-strong real assets team and more than 16 years of experience investing in energy infrastructure. 

Battery storage is a critical component of the energy transition because it helps solve some of the biggest challenges facing low-carbon energy systems today. As variable renewable generation in the form of solar and wind power increases, storage assets can help improve system flexibility and support more efficient use of existing grid infrastructure. 

FEIP II invests in battery storage alongside renewable generation and grid infrastructure, targeting assets that enable the integration, reliability and resilience of decarbonised energy systems. Long-term growth in power demand, increasing renewable penetration and the need for greater system flexibility continue to support the market outlook for storage infrastructure. By focusing on infrastructure that addresses these bottlenecks, the strategy seeks to benefit from the growing investment required to support the transition to net zero. 

While battery storage may benefit from increasing demand for system flexibility, investments in storage assets remain exposed to market, regulatory, operational and technology-related risks, which may affect investment performance.

FEIP II seeks to create long-term value by scaling development platforms that can originate, develop and operate multiple infrastructure projects over time. This platform approach provides access to a broader pipeline of investment opportunities and can support repeatable value creation across a portfolio of assets. 

Investing through platforms can also provide advantages in sourcing, allowing access to opportunities that may not be available through competitive processes for individual assets. Combined with active asset management, technical expertise and development experience, this approach helps maintain oversight throughout the asset lifecycle while supporting diversification across sectors, geographies and stages of investment.

Foresight has deployed more than €4 billion into energy infrastructure over the last 16 years and has extensive experience developing, constructing and managing energy transition assets. This track record is supported by a dedicated investment team with deep origination capabilities and the wider resources of a 188-strong real assets platform. 

FEIP II builds on the strategy established by its predecessor fund and continues its focus across the infrastructure required for a deeply decarbonised energy system. The strategy invests across renewable energy, energy storage and grid infrastructure, targeting the assets needed to address system bottlenecks and improve energy resilience. This broader opportunity set positions FEIP II to capture value from the increasing investment required to achieve net zero. 

FEIP II invests across a diversified range of energy transition infrastructure opportunities, including renewable energy generation, battery storage and grid infrastructure. The strategy is designed to create value through the development, construction and active management of assets that support the transition to low-carbon energy systems. 

Co-investment opportunities are assessed alongside the broader investment programme and may provide investors with additional exposure to specific opportunities within the FEIP II pipeline. Investors interested in co-investment opportunities, allocation considerations or access to future opportunities should contact the Institutional Clients Team to discuss the current pipeline and availability.