SUSI Partners has sold several onshore wind farms of the SUSI Renewable Energy Fund II (“SREF II”) in France and Finland, following the sales of wind farms in Norway and Germany announced in 2024.

SREF II’s French and Finnish onshore wind portfolios combined for an aggregate generation capacity of 80 MW and an average annual power production of 223 GWh, which is enough to cover the electricity consumption of c. 60,000 European households, and accounts for more than 275,000 tonnes of avoided CO2e emissions.

The French portfolio, which has been sold to Brussels-based infrastructure manager Watts Green, consists of three separate wind farms that had been acquired through individual transactions in 2015 and 2016, and achieved an aggregate annual production of 98 GWh. The portfolio of three Finnish wind farms has been sold to Locus Energy, a portfolio company of the Article 9-fund SEB Nordic Energy and a long-term active owner and developer of local infrastructure for sustainable energy production in the Nordic region. The portfolio had also been acquired by SUSI through three individual transactions between 2016 and 2018, and on average produced c. 125 GWh of clean electricity per year.

SUSI launched SREF II in 2014 and built a well-diversified portfolio of operating onshore wind and solar PV assets located across Europe. Projects were acquired at ready-to-build and operating stages and have all built up a robust production track record since their respective start of commercial operations.

SUSI ensured strong downside protection and cash flow visibility through long-term power-purchase agreements and access to feed-in schemes that provide a minimum offtake-price guarantee across the SREF II portfolio. At the same time, SUSI secured adequate levels of exposure to merchant power prices to retain upside potential and ensure inflation protection in high-power-price environments.

In addition to SUSI’s proactive oversight of construction processes and emerging commercial and technical matters in close collaboration with technical and commercial management (“TCM”) as well as operations and maintenance (“O&M”) providers, SUSI furthermore pursued various value-add initiatives to maximise exit value. Key initiatives include the extension of the assets’ design life as well as assessing and initiating the expansion of assets through repowering and co-location with solar PV and battery storage capacity.

With the successful conclusion of these transactions, SUSI has now sold c. 60% of SREF II’s assets based on invested capital, thereby delivering well-performing, resilient, and SFDR 9-aligned assets to the new owners and securing attractive value for its clients and their beneficiaries.

KeyFacts Energy: Renewable Energy news