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SUSI acquires stake in solar-storage developer Encore

May 24, 2023

Swiss fund manager SUSI Partners, through equity fund SUSIEnergy Transition Fund (SETF), has taken a controlling equity stake in Encore Renewable Energy, a US clean energy company specialised in the development, construction, and operation of distributed and utility-scale solar PV and battery storage assets. 

SUSI is injecting additional equity into Encore to “complete its shift from project developer to independent power producer by scaling the business and further strengthening its asset base,” a statement said.

Based in Vermont and active throughout the northeastern US, Encore has a particular focus on the redevelopment of abandoned brownfield sites, which “often benefit from streamlined permitting and zoning”, SUSI said.

The deal represents SETF’s second investment in the US after the acquisition of a 100 MW portfolio of front-of-the-meter battery storage projects in South Texas announced last August, which is expected to be fully operational before the summer. 

SUSI Partners specialises in sustainable energy infrastructure investments and has €1.9bn in capital commitments from institutional investors.

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