SUSI Partners, through its SUSI Asia Energy Transition Fund (SAETF), has announced a strategic investment agreement with Alba Renewables, a seasoned developer in Southeast Asia, aimed at fostering the growth of utility-scale solar and onshore wind projects in the Philippines. This partnership is set to catalyze the development, construction, and operational phases of renewable energy projects within the country over the next two years, while also bolstering Alba’s expansion efforts across Southeast Asia.
The collaboration signifies SUSI’s engagement in creating a substantial renewable energy platform in the region, with a particular emphasis on the Philippines. The investment will primarily finance the construction of specified projects, thereby enhancing Alba’s developmental and operational capabilities. Leveraging both Alba’s extensive experience in renewable energy and SUSI’s investment acumen, alongside their robust regional networks, the partnership aims to achieve significant growth rapidly—an essential element for advancing the energy transition in Asia.
This move not only accelerates the capital deployment for SAETF but also has led to the decision to extend the fund’s availability until September 2024. With a portfolio that already includes six investments, SAETF is making strides in diversifying its contributions across key areas crucial to Asia’s energy transition. These areas encompass large-scale renewable energy projects, rooftop solar PV solutions for commercial and industrial purposes, and initiatives aimed at enhancing energy efficiency.
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