Funding secured for SUSI’s Polish renewable portfolio
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
SUSI Partners (SUSI), acting on behalf of the SUSI Energy Transition Fund (SETF), has secured a Euro-denominated senior debt package for a fully merchant 167 MW Polish renewables portfolio from Swedish P Capital Partners (PCP). The vast majority of projects will start construction in early 2024 with the entire portfolio of solar PV and onshore wind projects expected to be fully operational in early 2025.
All projects were brought to ready-to-build stage by SETF portfolio company LGE, a joint venture between SUSI and leading Polish energy-as-a-service company Luneos, which was established in late 2021. Since then, LGE has built a pipeline of over 1 GW of solar PV and onshore wind projects and has now secured debt financing for a first tranche of projects. LGE continues to explore different route-to-market options for the remainder of the portfolio.
The successful process for a Euro-denominated, long-term senior financing for a fully merchant portfolio in Poland represents an achievement and at the same time represents maturing of the Polish renewables market. The process was further enabled by the strong attention paid by LGE to environmental and social risk factors, which includes a rigorous screening of supply chains to comply with SUSI’s responsible procurement requirements.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2023 issue
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.
Read the article online at: https://www.energyglobal.com/other-renewables/16012024/funding-secured-for-susis-polish-renewable-portfolio/
You might also like
Ireland starts national offshore renewable study
The Minister for Climate, Environment and Energy, Darragh O’Brien, has announced the commencement of work on the preparation of a National Offshore Renewable Energy Designated Maritime Area Plan.