The transaction expands on an existing framework agreement between SUSI and BIWO for the development, construction, and operation of distributed solar PV and wind assets. The proven partnership arrangement will be maintained, with BIWO managing development, construction, and operation of projects and SUSI having developed the battery storage business case and overseeing financial structuring.

The expansion builds on a recent partnership achievement, which saw SUSI and BIWO securing project debt financing for a 107 MW distributed solar PV portfolio. While the two projects being developed under the new agreement are significantly larger in scale, they similarly reflect the two parties’ approach of developing generation assets close to large consumption centres to take advantage of better offtake conditions and reduced curtailment risk.

The new agreement with BIWO follows shortly after SUSI announced the expansion of its Italian solar PV platform, ReFeel New Energy, to develop utility scale battery energy storage systems. Both expansions are testament to the SETF investment strategy of forming long-lasting partnerships with clean energy companies and contributing capital and expertise as a trusted financial partner with longstanding energy transition sector expertise. Today, SETF – the firm’s flagship evergreen energy transition infrastructure fund – holds a well-diversified portfolio across a wider set of energy transition themes, including clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging.