SUSI Partners invests in Chile renewables portfolio

The portfolio includes solar and wind power plants, with total capacity of approximately 243.6MW.

Under the agreement, SUSI and Biwo/LatSolar will commit to a long-term partnership for the development of renewables projects, with Biwo continuing to provide asset management services during construction and operation of the assets.

SUSI conducts sustainable energy infrastructure investments and seeks to generate attractive risk-adjusted returns for clients while contributing meaningfully to achieving global carbon neutrality, according to its website.

Biwo is a Chilean developer with more than 10 years of experience in delivering small-scale distributed renewable energy projects to the rapidly growing Chilean clean power market.

LatSolar invests in, develops and manages utility-scale renewables development projects in Latin America.

For SUSI Partners, the transaction marks the first investment in a Latin American market, further expanding the firm’s increasingly global investment footprint. It was executed on behalf of SETF, SUSI’s flagship evergreen equity fund launched in 2020.

The fund invests in sustainable energy infrastructure in OECD countries, covering the wide spectrum of investment opportunities arising from the energy transition, including clean energy generation, energy efficiency measures, and energy storage and integrated customer solutions.

SUSI Partners was advised on the investment by law firm DLA Piper.

The law firm’s work included the negotiation and drafting of several agreements, including bylaws of the holding company that will acquire the portfolio under certain conditions, the shareholders agreements, developments and construction service agreement, and the asset management agreement.

The firm also provided support regarding the Chilean electric power sector framework, and due diligence of the renewable power plants owned by Biwo.

DLA Piper’s team was led by partner Felipe Bahamondez, with associates Diego Peña, Roberta Andreani, Isabel Izquierdo and Teresita González.

Lembeye Abogados acted as legal counsel to Biwo Renovables on the agreement