SUSI Partners wins debt financing for 107 MW of DG solar in Chile

SUSI Partners, a Swiss funds management firm, has secured debt financing for a 107 MW portfolio of solar distributed generation (DG) projects in Chile. Reportedly, the firm, working on behalf of its SUSI Energy Transition Fund (SETF), acquired an undisclosed amount of funds from the Miami branch of Chilean bank Banco de Credito e Inversiones (BCI) and Norwegian financial services group DNB.

The loan will be used to fund greenfield solar projects acquired by SETF in a package with certain wind DG initiatives from Chile’s BIWO Renovables in 2021. Under a specific mechanism for small DG power plants, known locally as PMGDs, the projects will be entitled to stabilised offtake pricing. SUSI anticipates that the complete solar portfolio will be online by the end of 2024.

In April 2023, Susi Partners invested in Asia Clean Capital Vietnam, a developer of solar projects (ACCV). The investment, made through SUSI Partners’ Asia Energy Transition Fund (SAETF), was structured as a convertible loan. It contained a sustainability-linked mechanism linking the interest rate to improvements made in the ACCV’s solar PV procurement process’s transparency and traceability.