SUSI’s Chilean Hybrid Solar Plan
- SUSI and BIWO partner to build 2 hybrid solar PV and battery storage projects in Santiago, Chile: 232MWp capacity, 900MWh battery storage, 107MW distributed solar PV. Helping Chile reach 70% renewable electricity by 2030.
SUSI Partners, through the SUSI Energy Transition Fund, has announced two large-scale, 232MWp hybrid solar PV and battery storage projects with local firm BIWO Renovables. The projects, located in the Santiago metropolitan area, will have a combined battery storage capacity of up to 900MWh and are expected to commence construction in 2025. The two firms have also secured debt financing for a 107MW distributed solar PV portfolio. BIWO will manage project development, construction and operations, while SUSI will oversee financial structuring and develop the battery storage business case. This partnership is set to further aid Chile in reaching its target of generating 70% of its electricity from renewable sources by 2030.
What Financing Did SUSI and BIWO Secured for Their Solar Projects?
- SUSI Partners and BIWO Renovables secured debt financing for a 107MW distributed solar PV portfolio.
- The two firms have also secured equity financing for the 232MWp hybrid solar PV and battery storage projects.
- The projects have a combined battery storage capacity of up to 900MWh.
- The financing sources include both domestic and international lenders, including local banking institutions, export credit agencies, and other commercial lenders.
- The financing agreement also includes a lease financing component, allowing for flexible payment terms and lower upfront costs.