SUSI Partners has invested in the Chilean renewables market and acquired an Australian clean-energy company on behalf of its Energy Transition Fund (SETF).
SETF signed an agreement with Chilean developer BIWO Renovables and its commercial partner LatSolar Energy Investments for the acquisition of a portfolio of distributed solar and wind assets.
SUSI Partners said the projects, for which construction is expected to start early next year, will benefit from long-term offtake price stability under Chile’s PMGD regime, which is designed to encourage the development of renewable energy assets with connected to local distribution networks rather than the main transmission grid.
The assets support often weaker and dispersed distribution networks and, due to their limited size, are suited for construction near urban areas where energy demand is higher.
In Australia, the fund is buying a controlling stake in Starling and has committed to provide capital for the rollout of integrated residential solar and battery-storage systems to be leased to residential customers.
SUSI Partners said Australia is undergoing a shift toward distributed ‘behind the meter’ energy systems, which Starling is looking to play a role in through its Plico Energy business.
Last month, CBRE Investment Management invested in Green Peak Energy, which is also active in the space.
The latest investments by SETF demonstrate a ”commitment to accelerating the shift from a centralised, fossil-fuel based energy system towards a flexible, decentralised, clean, and affordable energy system that brings energy production and consumption closer together and empowers consumers in the process”, SUSI Partners said.