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Swiss fund manager SUSI Partners said on Tuesday that it has raised funds to bankroll the construction of a 167-MW fully merchant solar and onshore wind power portfolio in Poland.
Acting on behalf of its SUSI Energy Transition Fund (SETF), the firm secured a euro-denominated long-term senior debt package from Sweden’s P Capital Partners to finance the first batch of projects from a much larger pipeline in Poland.
Details of the financing were not disclosed. The debt raise being both merchant and long-term showcases Poland’s maturing renewables market, SUSI Partners highlighted.
Construction of most of the projects will begin in early 2024. The entire 167-MW portfolio is expected to be fully operational in early 2025.
These projects stem from a joint venture called Luneos Green Energy (LGE), set up by SUSI and Polish energy-as-a-service company Luneos in late 2021. Since then, LGE has developed a pipeline of over 1 GW of solar and wind projects, among them the 167-MW ready-to-build bundle.
LGE will continue to explore different route-to-market options for the remainder of the portfolio, SUSI Partners added.
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