US infrastructure investor I Squared Capital has launched Australian renewable energy platform ANZA Power, according to two sources familiar.

I Squared’s USD 300m equity cheque for the platform comes via its Growth Markets Infrastructure Fund II, the sources said.

ANZA Power plans to sign seven-to-eight power contracts for the platform, the sources added.

ANZA Power has a 1.5GW development portfolio of solar, battery storage and hybrid renewable energy projects across 18 sites in Australia and New Zealand, according to its website.

Its assets include 14 Australian and three New Zealand assets, the website states.

I Squared Global Chief Investment Officer Gautam Bhandari told Infralogic in June it was “aggressively pursuing” greenfield renewable opportunities in Australia and was likely to launch a new platform this year.

The Miami-headquartered manager is focused on onshore wind, solar and batteries, starting with shovel-ready or operational assets, with plans to invest an initial USD 500m-USD 700m in equity in the platform, as reported.

At the time, it had not chosen whether the new Australian platform would be under its pan-Asian developer business HEXA Renewables, as reported.

It has been fundraising for the Growth Markets Infrastructure Fund II with a USD 3bn target, as reported.

I Squared launched the Growth Markets Infrastructure Fund II and opened a data room for potential limited partners in July 2024, Infralogic reported in August that year.

In June 2025 Growth Markets Infrastructure Fund II bought Royal Cold Storage in the Philippines.

Meanwhile, I Squared has been interviewing advisors for a possible sale of its Australian remote power business Octa, Infralogic reported on 4 December.

I Squared has USD 50bn of assets under management and more than 90 portfolio companies, according to its website.

I Squared declined to comment.