Swiss-based fund manager SUSI Partners, through its Asia Energy Transition Fund, has entered into a partnership with experienced clean energy developer BayWa r.e. for the development, construction, and operation of commercial and industrial solar PV 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 20 MWp and deriving revenue from long-term electricity offtake agreements with larger, well-established corporations, the company said in a statement on Tuesday.
SUSI 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 20 MWp 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.
Founded in 2009, SUSI Partners is a Swiss fund manager specialised in sustainable energy infrastructure investments with 1.9 billion euros in capital commitments from institutional investors.
The firm’s investment strategy focuses on private equity and credit opportunities across the energy transition spectrum, including clean energy generation, energy efficiency measures, and solutions enabling clean energy use. With a successful track record of more than 140 transactions in over 20 countries to date, SUSI Partners seeks to achieve attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to achieving global climate neutrality.
BayWa r.e. is a leading developer, service supplier, distributor, and solutions provider in the global energy transition space, having brought over 5.5 GW of energy online and managing over 10 GW of renewable energy assets.
The company also acts as an independent power producer with an expanding energy trading business. BayWa r.e. has been developing on-site C&I projects in Southeast Asia since 2019, according to the statement.