SUSI and BIWO will develop two large-scale, hybrid solar PV and battery storage projects, with a combined generation capacity of 232MWp and a battery storage capacity of up to 900MWh, in the Santiago metropolitan area in Chile, starting in 2025
SUSI Partners, BIWO expand partnership in Chile. (Credit: SUSI Partners AG)
Switzerland-based private fund manager SUSI Partners, through its energy transition fund SETF, is expanding its existing partnership with Chilean clean energy developer BIWO.
SUSI and BIWO previously signed a framework agreement for the development, construction, and operation of distributed solar PV and wind assets.
Under the expanded partnership, the two parties will develop two large-scale, hybrid solar PV and battery storage projects in the Santiago metropolitan area in Chile.
The construction of the two projects, with a combined generation capacity of 232MWp and a battery storage capacity of up to 900MWh, is scheduled to begin in 2025.
BIWO will manage the development, construction, and operation of projects and SUSI will develop the battery storage business and oversee the financial structuring.
The expanded partnership between SUSI and BIWO builds on the achievement of securing project debt financing for a 107MW distributed solar PV portfolio.
The proposed two projects are significantly larger in scale and reflect the parties’ common approach of developing projects close to large consumption centres to ensure better offtake conditions and reduced curtailment risk.
The new agreement with BIWO follows SUSI’s announcement of the expansion of its Italian solar PV platform, ReFeel New Energy, to develop utility-scale battery energy storage systems.
Last year, SUSI Partners teamed up with SMT Energy to jointly develop, own, and operate ten battery energy storage systems (BESS) with a combined capacity of 100MW, in the US.
In July this year, SUSI Partners acquired a majority stake in APAL, a French renewables company newly formed through the merger of 3ND and ADE.
Through the acquisition, the Swiss fund manager established its footprint in France, a core European market with the potential to expand its renewable energy generation capacities.
SUSI said that its energy transition fund SETF aims to form long-lasting partnerships with clean energy companies and contribute to the capital and expertise as a trusted financial partner.
SETF holds a diversified portfolio including clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging.