Zug/Zurich, 14 November 2019 – As part of a broader collaboration with Starling Energy Group, SUSI Partners – through its SUSI Energy Storage Fund – is investing up to AUD 50 million in a first roll-out, combining residential rooftop solar PV and battery storage systems with the aim to build Australia’s largest portfolio of its kind.
The project, delivered by Starling Energy Group under the dedicated Plico Energy brand, will be deployed gradually, enabling participants from communities across Western Australia to generate and consume their own clean power for up to 90% of their overall needs, thus significantly decarbonising and lowering the cost of their energy mix.
Under the programme, home owners will be provided with solar panels installed on their rooftop as well as a battery storage unit, together with maintenance and management services. The architecture of the project allows for the aggregation of individual systems into a virtual power plant (VPP), with an objective to support the local grid.
The innovative equity structure of the project allows for a share of the proceeds to be distributed to local communities to fund their initiatives, with the ultimate goal of transferring ownership of the platform to them.
Matteo Zanni, Director at SUSI Partners, comments: “This new investment exemplifies our holistic approach in financing the energy transition. By combining a community-focussed solution with the optionality of a VPP configuration, we place people at the center of the energy transition, while delivering fully contracted returns.”
Reflecting its unique features, the project was recently named “Energy Innovation of the Year” in the Australian Institute of Energy’s 2019 WA Energy Awards. It is the first of its kind in the region and marks SUSI Partners’ second transaction in Australia.