SUSI Partners has signed an investment agreement with experienced Southeast Asian developer Alba Renewables through the SUSI Asia Energy Transition Fund to support the development, construction, and operation of utility-scale ground-mounted solar PV and onshore wind projects in the Philippines. Through the purchase, SUSI will assist Alba’s broader growth objectives throughout Southeast Asia and contribute to the development of a regional utility-scale renewables platform with an emphasis on the Philippines. Over the next 24 months, SUSI’s investment will be used primarily to finance the building of certain projects, allowing Alba to expand its development and operating capabilities.
The investment with Alba accelerates SAETF’s capital deployment, which, combined with the Fund’s robust project pipeline, has resulted in its reopening until September 2024. The Fund’s current portfolio includes six investments with diverse exposures to topics fundamental to Asia’s energy transformation, such as utility-scale renewable energy, rooftop solar PV for commercial and industrial clients, and energy efficiency.
In September 2023, SUSI Partners secured debt financing for a 107 MW portfolio of solar distributed generation (DG) projects in Chile. Reportedly, the firm, working on behalf of its SUSI Energy Transition Fund (SETF), acquired an undisclosed amount of funds from the Miami branch of Chilean bank Banco de Credito e Inversiones (BCI) and Norwegian financial services group DNB.
