SUSI Partners buys 50% stake in Australian residential solar-storage provider

Facebook
Twitter
LinkedIn
Reddit
Email
SUSI will provide capital for the rollout of more than 10,000 distributed PV and storage systems. Image: Plico Energy via Twitter.

Swiss fund manager SUSI Partners has acquired a 50% interest in Starling Energy Group, an Australian installer of integrated solar PV and energy storage systems for the residential sector.

Carried out through SUSI’s Energy Transition Fund (SETF), the deal will see the fund manager provide additional capital for the rollout of more than 10,000 distributed solar and storage systems over the coming years

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Through its Plico Energy arm, Starling helps homeowners to become largely self-sufficient energy consumers through a combination of rooftop PV, battery storage and dispatch optimisation.

SUSI said that once sufficient scale has been reached, individual systems can be operated as a virtual power plant (VPP), using software to optimise consumption and dispatch patterns of multiple distributed energy systems while also providing grid services.

“SETF’s funding commitment ensures that customers face no upfront costs, thus significantly increasing demand and accelerating the deployment of the systems,” SUSI Partners said.

The announcement comes after Starling secured an AU$50 million (US$36 million) infrastructure funding agreement with SUSI in 2019 to support the rollout of residential solar-plus-storage systems in Western Australia.

The potential for VPP’s featuring solar and storage to ease demand on the grid is being explored through a pilot programme unveiled by the state government of Victoria earlier this year, as part of efforts to encourage the take-up of rooftop PV.

Elsewhere, US solar installer SunPower last month launched a VPP solution that it said allows homeowners to earn “hundreds of dollars per year” in exchange for allowing utilities to discharge their battery during times of peak energy demand.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA