SUSI Partners, a prominent equity fund, has acquired a controlling equity stake in a solar and battery developer in the United States. The investment was made by SUSI Energy Transition Fund (SETF) in Encore Renewable Energy, a well-established developer and operator of utility-scale solar and battery storage assets.
Encore, headquartered in Vermont and operating across the northeastern region of the US, has a commendable track record of originating, developing, and constructing high-quality clean energy projects for more than ten years. By investing in Encore, SETF expands its diversified portfolio, which already includes investments in renewable energy production, energy efficiency, energy storage, and integrated customer energy solutions across Europe, the US, Chile, and Australia.
Encore aligns with SUSI's sustainability requirements as a certified B Corporation, placing a strong emphasis on sustainable growth, environmental compatibility, and community engagement. This shared commitment to sustainable practices makes Encore an ideal partner for SUSI.
This marks SETF's second investment in the US, following its acquisition of a 100MW portfolio of front-of-the-meter battery storage projects in South Texas, announced in August of last year. The South Texas projects are progressing as planned and are expected to be fully operational before the summer season.
With the ongoing success of their existing ventures and the presence of appealing investment opportunities in the pipeline, SUSI intends to expand SETF's capital base in 2023. The company is poised to capitalize on the progress made in renewable energy deployment and further solidify its position in the market.
