Switzerland-based SUSI Partners has signed an investment agreement with Alba Renewables to develop, construct, and operate utility-scale solar photovoltaic (PV) and onshore wind projects in the Philippines. SUSI signed the agreement through its SUSI Asia Energy Transition Fund (SAETF). Details about the investment volume or the size of the portfolio were not disclosed.
Through the investment, SUSI aims to create a large-scale renewable energy platform focused on the Philippines and assist Alba, a regional renewables developer-operator, in its growth plans across Southeast Asia (SEA). SUSI’s primary focus is on financing the construction of selected projects over the next 24 months, enabling Alba to expand its development activities and operational capacity.
The investment with Alba is a part of SAETF’s effort to accelerate capital deployment. The fund, which currently consists of six investments across various themes critical to Asia’s energy transition, will remain open for further investments until September 2024.