SUSI Partners Secures Senior Debt for Renewable Energy Portfolio in Poland

SUSI Partners, representing the SUSI Energy Transition Fund (SETF), has achieved a noteworthy milestone by securing a Euro-denominated senior debt package for a fully merchant 167 MW renewable energy portfolio in Poland. This financing comes from Swedish P Capital Partners (PCP). The majority of the projects are slated to commence construction in early 2024, with the entire portfolio, comprising solar PV and onshore wind projects, anticipated to be fully operational by early 2025.

All projects within this portfolio have advanced to the ready-to-build stage under the stewardship of LGE, a SETF portfolio company. LGE, a joint venture between SUSI and the prominent Polish energy-as-a-service firm Luneos, was established in late 2021. Since its inception, LGE has developed a pipeline exceeding 1 GW for solar PV and onshore wind projects and has successfully secured debt financing for the initial tranche. LGE is actively exploring diverse route-to-market options for the remaining projects.

The achievement of securing Euro-denominated, long-term senior financing for a fully merchant portfolio in Poland is regarded as a distinctive feat, underscoring the swift maturation of the Polish renewables market. This success was further facilitated by LGE’s meticulous attention to environmental and social risk factors, including a rigorous supply chain screening to align with SUSI’s responsible procurement requirements.

Within a few months, SUSI has demonstrated its resurgence in the lending market with the successful debt raise for a distributed renewables portfolio in Chile and the recent Polish financing. The Fund’s development platforms persistently drive their project portfolios toward the ready-to-build stage. Currently, SETF manages a well-diversified portfolio encompassing various energy transition themes such as clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging infrastructure.