SUSI Partners enters Latin America with 200MW renewables acquisition in Chile

Construction of the acquired portfolio is expected to begin early next year. Image: Engie.

Swiss fund manager SUSI Partners is acquiring a portfolio of more than 200MW of distributed solar PV and wind assets in Chile, marking its first investment in Latin America.

Currently in late development stage and expected to start construction early next year, the projects are being acquired from Chilean developer BIWO Renovables and Latin America-focused renewables investor LatSolar.

The three companies have committed to a long-term partnership for the development of the projects, with BIWO to provide asset management services during the construction and operation of the assets.

The plants in the portfolio benefit from offtake price stability under Chile’s PMGD regime for distributed energy plants with capacities between 500kW and 9MW.

Aiming for 60% clean energy by 2035, Chile was the highest-scoring market in BloombergNEF’s most recent Climatescope report, an annual survey of the energy transition in developing countries, thanks in part to its renewables policies and commitment to phase out coal.

Chile carried out an auction last month that will support 2GW of renewables and storage installations, while a subsidiary of French utility Engie was recently awarded rights to develop 1.5GW of solar-wind-energy storage hybrid projects in the country.

In addition to its entry into Latin America, SUSI Partners has this year formed a UK-focused energy storage joint venture and raised US$81 million in May to invest in renewables in Southeast Asia.