SUSI Partners, through the SUSI Asia Energy Transition Fund (SAETF), has entered into an investment agreement with experienced Southeast Asian developer Alba Renewables (Alba) to support the development, construction, and operation of utility-scale, ground-mounted solar photovoltaic (PV) and onshore wind projects in the Philippines.

The transaction will see SUSI participate in the buildout of a regional utility-scale renewables platform with a focus on the Philippines while supporting Alba’s broader growth plans across Southeast Asia, SUSI said in a statement on Tuesday.

According to the statement, SUSI’s investment will focus on funding the construction of designated projects over the next 24 months and enables Alba to upscale their development activities and operational capacity.

Benefitting from Alba’s longstanding renewable energy development experience, SUSI’s investment expertise, as well as both parties’ strong regional networks, the partnership is well positioned to quickly reach significant scale, which is a crucial requirement in the context of the energy transition in Asia.

The investment with Alba further accelerates SAETF’s capital deployment, which, in combination with the strong project pipeline, has prompted a re-opening of the Fund until September 2024.

The fund’s current portfolio consists of six investments with exposures well diversified across themes that are central to the energy transition in Asia, including utility-scale renewable energy, rooftop solar PV for commercial and industrial clients, and energy efficiency.

SUSI is an independent, Swiss-based investment manager with an exclusive focus on, and a proven track record across, private, mid-market investment opportunities arising from the global energy transition.

The firm currently manages EUR 1.9 billion ($2.06 billion) on behalf of institutional investors.

With a successful track record of more than 140 transactions in over 25 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.

Alba Renewables develops, constructs, and operates renewable energy projects across the Asia Pacific (APAC) region.

The team has over 5 GW of project experience in renewable energy, from greenfield development through to operation, in more than ten Asian countries.

The company works with institutional investors towards the mutual objective of building a best-in-class, multi-gigawatt independent power producer (IPP) platform.

SUSI Partners to acquire sizeable commercial & industrial solar PV projects in Southeast Asia