Brookfield has acquired Alba Renewables, a Southeast Asian renewable energy developer backed by a SUSI Partners-managed fund.
SUSI, through the SUSI Asia Energy Transition Fund (SAETF), said it has realised its investment in Singapore-based renewable energy developer Alba, following Alba’s acquisition by Brookfield.
In April last year, SUSI’s Asia energy transition fund SAETF partnered with Alba to invest, via a convertible loan structure, in solar and onshore wind projects in the Philippines.
The Swiss-based investment manager’s SAETF agreed to support the development and operation of utility-scale, ground-mounted solar photovoltaic and onshore wind projects in the country.
Brookfield’s acquisition of Alba marks SUSI’s inaugural exit through its dedicated Asia strategy, as the convertible loan provided by SAETF was repaid under undisclosed terms.
SAETF’s current portfolio includes: SARA, a utility-scale renewable energy company in cooperation with British International Investment and FMO; OASIS, a commercial and industrial solar consolidation platform; and Sustainable Energy Solutions Partners, a waste-to-energy biogas platform in Thailand.
SAETF’s investments to date cover projects in Vietnam, the Philippines, Thailand and Cambodia.
SUSI is now part of Gresham House, a UK-based specialist alternative asset manager.
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