- SUSI Partners (“SUSI”), through its flagship Energy Transition Fund (“SETF”), is expanding its partnership with Chilean developer BIWO Renovables (“BIWO”) by developing utility-scale, hybrid solar PV and battery storage projects
- SUSI and BIWO will work together to develop two large-scale projects with a combined capacity of 232 MWp in the Santiago metropolitan area
Zug/Zurich, 15 November 2023 – SUSI Partners, through SETF, is expanding its partnership with Chilean clean energy developer BIWO to develop two large-scale, hybrid solar PV and battery storage projects with a combined generation capacity of 232 MWp and battery storage capacity of up to 900 MWh. The two designated projects are located in the Santiago metropolitan area and expected to start construction in 2025.
The transaction expands on an existing framework agreement between SUSI and BIWO for the development, construction, and operation of distributed solar PV and wind assets. The proven partnership arrangement will be maintained, with BIWO managing development, construction, and operation of projects and SUSI having developed the battery storage business case and overseeing financial structuring.
The expansion builds on a recent partnership achievement, which saw SUSI and BIWO securing project debt financing for a 107 MW distributed solar PV portfolio. While the two projects being developed under the new agreement are significantly larger in scale, they similarly reflect the two parties’ approach of developing generation assets close to large consumption centres to take advantage of better offtake conditions and reduced curtailment risk.
The new agreement with BIWO follows shortly after SUSI announced the expansion of its Italian solar PV platform, ReFeel New Energy, to develop utility-scale battery energy storage systems. Both expansions are testament to the SETF investment strategy of forming long-lasting partnerships with clean energy companies and contributing capital and expertise as a trusted financial partner with longstanding energy transition sector expertise. Today, SETF – the firm’s flagship evergreen energy transition infrastructure fund – holds a well-diversified portfolio across a wider set of energy transition themes, including clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging.