Switzerland's SUSI Partners backing solar and storage assets in Chile; Solar Steel to supply 400 MW solar trackers in Peru; Mainstream completes Chile portfolio's reorganization.
SUSI expands in Chilean solar space: Switzerland-based private fund manager SUSI Partners will support the development of 232 MW utility-scale hybrid solar PV and battery storage projects with a combined capacity of up to 900 MWh in Chile. It plans to do so by expanding its partnership with Chilean clean energy developer BIWO Renovables. SUSI will invest in the partnership through SUSI Energy Transition Fund (SETF), bringing its battery storage business and financial structuring experience, while BIWO will undertake development, construction and operation of the projects. SUSI launched itself in the Chilean renewable energy space in October 2021 by acquiring more than 200 MW distributed solar and wind assets from BIWO and its partner LatSolar (see Latin America PV News Snippets).
Big Peru order for Solar Steel: Spanish solar tracker and fixed structures supplier Solar Steel has secured a supply order for 400 MW of its trackers in Peru. Under the deal signed with an undisclosed customer, Solar Steel will deliver 5,400 of its single-row and dual-row TracSmarT + 1V solar trackers for 2 projects near the provinces of Islay and Chiclayo. The Spanish manufacturer said these projects will supply renewable energy to more than 230,000 households in the country's northern regions. Solar Steel has 500 MW of capacity already deployed in Peru.
Mainstream reorganizes Andes platform in Chile: Irish renewables company Mainstream Renewable Power says it has completed the reorganization process for its Andes Renovables wind and solar platform in Chile. It has renegotiated the financial debts for the platform to enable new capital flow into Huemul Energia and Condor Energia, the 2 companies that are part of its 1.4 GW Andes platform. The company had launched Judicial Reorganization Proceedings for Huemul Energia and Condor Energia in July 2023 to restructure their assets and capital structure, renegotiate their financial debts, and to allow for an injection of new capital into the 2 companies.
Now, the Irish firm says it has renegotiated terms with project finance and mezzanine lenders for $1 billion project senior debt, paving the way for 591 MW Condor and 630 MW Huemul wind and solar portfolios to get a sound financial foundation.