SETF has a diversified portfolio across energy transition themes including clean energy generation and battery energy storage. Credit: SUSI Partners.

Swiss investment firm SUSI Partners has announced an agreement to fund the development of a battery energy storage portfolio in central-southern Chile through its SUSI Energy Transition Fund (SETF).

SETF has a diversified portfolio across the energy transition themes of clean energy generation, energy efficiency, battery energy storage, customer energy solutions and electric vehicle charging infrastructure.

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The move marks an expansion of SUSI’s partnership with local developer BIWO Renovables, adding a new dimension to their renewable energy project collaboration in the country.

SETF will invest in a portfolio of 22 battery energy storage projects with a targeted total capacity of 860MW and up to 3.5 gigawatt hours (GWh).

The majority of these projects are in advanced development stages, with the first expected to commence construction in the first half of 2025.

BIWO, an existing partner, has secured interconnection capacity in strategic locations for these developments.

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As Chile’s power grid sees an increase in intermittent renewable energy, standalone battery energy storage systems are emerging as the most cost-efficient and rapid deployment solution for grid stability, according to the SUSI partners.

The deal strengthens the ongoing partnership between SUSI and BIWO, which includes distributed generation projects under Chile’s small distributed generation price stabilisation regime and utility-scale hybrid solar photovoltaic (PV) and battery storage projects.

The move into standalone battery energy storage projects is a strategic evolution for the partnership, leveraging both parties’ sector experience.

SUSI’s investment in these projects demonstrates its capability to integrate energy transition investment expertise with the local knowledge and networks of its partner companies.

This approach enables access to proprietary project pipelines and the ability to quickly capitalise on market-specific opportunities for its clients.

In May 2023, SUSI Partners purchased a controlling stake in the American clean energy company Encore.

Located in Vermont, Encore specialises in the creation, building, and management of both distributed and utility-scale solar PV systems and battery storage solutions.