SUSI Partners to acquire sizeable C&I solar PV projects in Southeast Asia

  • SUSI Partners (“SUSI”), through its Asia Energy Transition Fund (“SAETF”), has signed a framework agreement with global renewables developer BayWa r.e. for the acquisition of sizeable rooftop solar photovoltaic projects across Southeast Asia
  • The partnership targets larger-size projects contracted with reputable, larger commercial and industrial (“C&I”) offtakers

Singapore, 12 September 2023 – SUSI Partners, through SAETF, has entered into a partnership with experienced clean energy developer BayWa r.e. for the development, construction, and operation of C&I solar PV projects in Malaysia, Thailand, Vietnam, the Philippines, and Indonesia. The partnership is geared towards a larger-size segment of the C&I sector with target projects reaching sizes of up to 20 MWp and deriving revenue from long-term electricity offtake agreements with larger, well-established corporations.

SUSI will work closely with BayWa r.e. during the project development process and eventually fully acquire ready-to-build projects once a power purchase agreement has been secured. An initial portfolio with a capacity of over 20 MWp has been earmarked for acquisition. The agreement builds on a longstanding relationship between SUSI and BayWa r.e., previously focused on renewables in Europe and carries it over to the fast-growing C&I solar PV market in the emerging markets of Southeast Asia.

The transaction further expands SAETF’s energy transition infrastructure portfolio, which now consists of five portfolio companies across utility-scale renewable energy generation, energy efficiency, and distributed solar PV solutions for C&I end customers across Southeast Asia.