Swiss fund manager enters Australian market with A$50 million solar investment
26 Nov 2018
Switzerland-based investment manager SUSI Partners has acquired 100% of a solar photovoltaic (PV) project in Queensland.
SUSI Partners will invest approximately €30 million (A$50 million) to buy and finance the construction of a 34MW solar PV plant with the option to add power storage, in Middlemount, Central Queensland.
This is SUSI Partners’ first investment in the country and one of its largest outside Europe.
Once connected to the grid, the PV plant will generate sufficient electricity to support approximately 24,000 households and will be the largest solar plant in SUSI’s portfolio.
‘This investment represents an important step in the internationalisation of SUSI`s investment remit and the first investment into the Australian market, which we deem highly attractive for clean energy infrastructure investments, despite the recent energy policy uncertainties,’ says Marco van Daele, Chief Investment Officer of SUSI Partners, in a company media release.
Matteo Zanni, Vice President at SUSI, led the transaction and added that the Middlemount project is a strategic investment for SUSI.
‘It positions our fund in a market with large potential to add further decentralised, clean power generation and energy solutions including storage, and it represents an important diversification factor for our growing portfolio,’ he says.
SUSI Partners, through its SUSI Energy Storage Fund (SESF), is actively pursuing several additional projects in Australia.
Headquartered in Zurich, SUSI Partners AG specialises in sustainable infrastructure investments. It currently manages four funds in the areas of renewable energy, energy efficiency and energy storage.
Launched in early 2017 and managed by SUSI, the SUSI Energy Storage Fund is the world’s first dedicated energy storage infrastructure fund. The fund had its final closing at €252 million (approximately A$400 million) at the end of June 2018.
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