SUSI Partners has entered into an agreement with a regional renewables player concerning the buildout of solar and wind projects in the Philippines.
The agreement is between SUSI Asia Energy Transition Fund (SAETF) and experienced south-east Asian developer Alba Renewables concerns the development, construction, and operation of utility-scale, ground-mounted solar and onshore wind projects in the country.
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 south-east Asia.
SUSI’s investment will focus on funding the construction of designated schemes over the next 24 months and enables Alba to upscale its development activities and operational capacity.
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.