The OECD-focused SUSI Energy Transition Fund (SETF) is expanding its partnership with BIWO Renovables to develop 22 battery storage projects in Chile.
The SUSI Partners-managed fund has agreed to fund the battery energy storage portfolio with a target capacity of 860MW, expandable to 3.5GWh.
The projects in the central-southern area of Chile, mainly in advanced development, are set to commence construction in early 2025.
The latest deal expands its partnership with local developer BIWO. Late last year, SETF and BIWO agreed to start the development of two hybrid solar photovoltaic and battery storage projects in the Santiago metropolitan area in 2025.
The partnership expanded SETF and BIWO’s existing agreement announced in December 2021 to develop, construct and operate distributed solar photovoltaic and wind assets.
SUSI said the latest deal, which expands into standalone battery energy storage projects represents a “natural evolution for the partnership based on both parties’ experience in the sector”.
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