SUSI Partners through its main equity fund has taken a controlling equity stake in a US solar and battery developer.
SUSI Energy Transition Fund (SETF) has made an investment in Encore Renewable Energy, a developer and operator of utility-scale solar and battery storage assets.
Based in Vermont and active throughout north-east US, Encore has been originating, developing, and constructing high-quality clean energy projects for more than a decade.
The investment in Encore expands SETF’s diversified and growing portfolio, which covers investments from renewable energy production over energy efficiency to energy storage and integrated customer energy solutions in Europe, the US, Chile and Australia.
As a certified B Corporation, Encore puts a strong focus on sustainable growth, environmental compatibility, and community engagement, which matches SUSI’s sustainability requirements.
For SUSI’s SETF, it is the second investment in the US after the acquisition of a 100MW portfolio of front-of-the-meter battery storage projects in South Texas announced last August, which is on track to be fully operational before the summer.
Given the continued deployment progress through the existing platforms and further attractive near-term investment opportunities in the pipeline, SUSI is looking to further expand SETF’s capital base in 2023.