SUSI Partners has secured a Euro-denominated senior debt package for a 167MW Polish solar and wind portfolio from Swedish P Capital Partners.
The majority of projects in the fully merchant portfolio will start construction in early 2024 with all of the sites expected to be fully operational in early 2025.
All projects were brought to ready-to-build stage by SUSI Energy Transition Fund (SETF) portfolio company LGE, a joint venture between SUSI and Polish energy company Luneos, which was established in late 2021.
Since then, LGE has built a pipeline of over 1GW of solar and onshore wind projects and has now secured debt financing for a first tranche of projects.
LGE continues to explore different route-to-market options for the remainder of the portfolio.
The successful process for a Euro-denominated, long-term senior financing for a fully merchant portfolio in Poland represents a “unique achievement”.
The process was further enabled by the attention paid by LGE to environmental and social risk factors, which includes a rigorous screening of supply chains to comply with SUSI’s responsible procurement requirements.