SUSI Partners scales up financing of solar PV self-consumption in Iberia

  • SUSI Partners, through its Energy Efficiency Fund II, signs a multi-country framework agreement with Spanish IPP Prosolia Energy (Prosolia) for the financing of solar PV self-consumption projects
  • Building on previous transactions, the scope of the partnership is expanded from an existing portfolio of 30 projects (40MWp) in Iberia to cover Prosolia’s growing project pipeline in selected European countries
  • The transaction demonstrates SUSI’s ability to apply its structured financing solutions to a broad array of energy transition themes

Zug/Zurich, 3 February 2022 – SUSI Partners is expanding on an existing partnership of its credit platform with Spanish photovoltaics IPP Prosolia, entering a framework agreement for the financing of industrial self-consumption solar PV projects in Spain, Portugal and other selected European countries. The agreement highlights SUSI’s expanding investment footprint in the PV-as-a-Service segment, and the suitability of its structured credit solutions to fund energy transition infrastructure at scale.

Building on the success of previous transactions with Prosolia, the framework agreement allows both parties to streamline future financing arrangements. With projects totalling 40MWp already in execution, including the construction of an on-site PV plant at a large automotive factory in Spain and a portfolio of industrial solar rooftops in Portugal, the two parties are expanding their partnership to support Prosolia’s growth plans in Europe.

Prosolia’s project pipeline comprises projects with industrial end customers from a wide range of sectors. By allowing Prosolia to operate on-site solar PV installations on their premises (“behind-the-meter”), either on rooftops or ground-mounted, and contracting to purchase the power generated, these end customers not only benefit from lower power prices, but also increase their security of supply while significantly decarbonising their operations.

Solar PV self-consumption is quickly becoming a key contributor to the energy transition with national governments, including those of Spain and Portugal, recognising its potential and including plans for the accelerated rollout of such installations in their national climate strategies. In addition, homeowners as well as industrial and commercial companies are increasingly on the lookout for solutions that allow them to be less exposed to rising energy prices.

The agreement with Prosolia underscores SUSI Partners’ firm belief in the benefits of customer-oriented business models. Solar PV self-consumption, in particular, continues to be a key pillar of SUSI’s investment strategy, including for the firm’s credit platform, which originally has focussed on traditional energy efficiency measures and is now increasingly applying its structured financing solutions to a broader array of energy transition infrastructure themes.