Susi Partners, a Swiss fund manager specializing in sustainable energy infrastructure investments, has partnered with clean energy developer BayWa r.e. for development, construction, and operation of commercial and industrial (C&I) solar photovoltaic projects in Malaysia, Thailand, Vietnam, the Philippines, and Indonesia.
The partnership is geared towards a larger-size segment of the C&I sector with target projects reaching sizes of up to 20MWp and deriving revenue from long-term electricity offtake agreements with larger, well-established corporations.
Susi, through its Asia Energy Transition Fund (SAETF), will work closely with BayWa r.e. during the project development process and eventually fully acquire ready-to-build projects once a power purchase agreement has been secured.
An initial portfolio with a capacity of over 20MWp has been earmarked for acquisition. The agreement builds on a longstanding relationship between Susi and BayWa r.e., previously focused on renewables in Europe and carries it over to the fast-growing C&I solar PV market in the emerging markets of Southeast Asia.
The transaction further expands SAETF’s energy transition infrastructure portfolio, which now consists of five portfolio companies across utility-scale renewable energy generation, energy efficiency, and distributed solar PV solutions for C&I end customers across Southeast Asia.