With two large-scale hybrid solar photovoltaic (PV) as well as battery storage projects to be developed, SUSI Partners, working through the SUSI Energy Transition Fund (SETF), plans to grow its collaboration with Chilean renewable energy company BIWO Renovables. The move is said to be a major step in Chile’s backing of clean energy initiatives.
The joint venture aims to generate a total of 232 MWp of electricity and up to 900 MWh of battery storage. Located in the Santiago metropolitan locale, these projects have been designated. Construction work on the project is anticipated to begin in 2025.
The current framework agreement involving SUSI and BIWO covers the development, building, and running of distributed solar PV as well as wind assets. It is said that the development of two large-scale hybrid projects in Santiago extends this agreement.
The current model of partnership will remain in place. SUSI is managing the financial structure and development of the battery storage business case. BIWO oversees the project’s development, construction, along with operation.
It is said that the expansion is a result of SUSI and BIWO’s recent accomplishment of securing project debt financing for a portfolio of distributed solar PV projects reaching 107 MW.
The two large-scale hybrid solar photovoltaic projects alignment with developing generation assets plan
Even though the two new projects are significantly larger in scale, they align with the plan for developing generation assets close to major consumption hubs. This is done in order to optimize offtake conditions and also reduce curtailment risk.
With this most recent agreement, SUSI continues to demonstrate that it is a dependable financial partner. It has an abundance of experience in the energy transition sector. The company is committed to building lasting partnerships with clean energy organizations. The primary objective of the SETF investment strategy is to provide expertise and resources. This is done with the aim of promoting enduring collaborations.
SETF, SUSI’s flagship evergreen energy transition infrastructure fund, currently holds an extensive portfolio, including an array of energy transition topics. These include clean energy generation, battery energy storage, energy efficiency, electric automobile charging, and consumer energy solutions.
With their Italian solar PV platform, ReFeel New Energy, SUSI has also recently expanded into utility-scale battery energy storage systems. The expansion also showcases its commitment to advancing sustainable energy solutions globally.