SUSI Partners’ portfolio company Starling Energy Group, which operates under its consumer brand Plico, has secured a AUD 35 million debt investment from Australia’s government-owned green bank, the Clean Energy Finance Corporation (CEFC). The financing will support the continued expansion of Plico’s residential solar PV and battery portfolio across the country.
Plico is a leading provider of residential solar and battery systems in Australia. The company enables households to generate and consume their own clean power while integrating its systems into a virtual power plant (VPP) that supports grid stability and creates shared financial benefits for both the company and its customers. SUSI acquired a 50% stake in the company on behalf of the SUSI Energy Transition Fund (SETF) in 2021 and has since accompanied the business in growing its customer base and rolling out its VPP capabilities.
The CEFC financing marks another key milestone in Plico’s growth journey, supporting the continued expansion of its fast-growing member community amid strong regulatory tailwinds and increasing demand for distributed energy solutions.
SUSI’s equity fund, SETF, focuses on establishing and scaling up platforms which develop, construct, buy, and operate energy transition infrastructure assets in Europe and other key OECD markets. The Fund’s diversified portfolio spans clean energy generation, energy efficiency, battery storage, customer energy solutions, and electric vehicle charging.