SUSI Partners, a Swiss-based investment management firm, along with its joint venture partner SMT Energy, has signed a tax equity financing agreement for a 100 MW battery storage portfolio in Texas, US. SUSI secured the funding from Greenprint Capital on behalf of the SUSI Energy Transition Fund.
The portfolio comprises ten utility-scale standalone battery energy storage projects. These projects will balance the mismatch between supply and demand for electricity, stabilizing the state’s stressed power grids. All the portfolio assets will commence operation in the latter half of 2023. SMT Energy has constructed the assets and will also be responsible for managing them. Additionally, most of its Texas battery storage projects are now eligible for investment tax credits.
In April 2023, SUSI Partners invested in Asia Clean Capital Vietnam, a developer of solar projects (ACCV). The investment is structured as a convertible loan, containing a sustainability-linked mechanism that ties the interest rate to improvements made in ACCV’s solar PV procurement process transparency and traceability.