In a significant development in the renewable energy sector, SUSI Partners, acting on behalf of SETF (SUSI Energy Transition Fund), has successfully secured debt financing for a 107 MW portfolio of solar photovoltaic projects located in Chile. The financing for these projects was secured through a collaboration with Banco de Crédito e Inversiones (BCI) based in Miami, which is serving as the lender and administrative agent, and DNB, Norway’s largest financial services group.
These distributed generation projects, currently in the construction phase, are set to fully operationalize by the close of 2024. They benefit from Chile’s PMGD regime, which offers stable offtake prices for renewable energy sources.
SUSI’s acquisition of this portfolio is part of a strategic framework agreement with BIWO Renovables, a well-established Chilean renewables developer with a strong track record in delivering distributed renewable energy projects. Through this partnership, SUSI aims to expand its presence in the rapidly growing Chilean clean energy market over the coming years.
Importantly, these projects exemplify SUSI’s strong commitment to best-practice Environmental, Social, and Governance (ESG) standards, a critical factor in securing financing from top-tier financial institutions. SUSI and BIWO are actively engaging with local communities, prioritizing local suppliers, mitigating temporary agricultural land disruption, and promoting recycling and reuse of construction materials.
The Chilean portfolio falls under SETF, SUSI’s flagship energy transition fund. SETF maintains a diversified portfolio across OECD jurisdictions, encompassing various energy transition themes, including clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging infrastructure. This financing arrangement underscores the growing importance of renewable energy and ESG principles in the global financial landscape.