SUSI Partners reaches EUR289m final close for Energy Efficiency Fund II
SUSI Partners has disclosed that its SUSI Energy Efficiency Fund II (SEEF II) held its final closing bringing total investor commitments to EUR289 million (US$313.73 million). This represents a significant expansion of the company’s energy efficiency platform and a 45% increase in commitments over its predecessor fund, which was launched in 2014 and closed at EUR200 million (US$217.11 million).
SEEF II has an institutional investor base comprising pension funds, insurance companies, and foundations from Switzerland, Germany, the Netherlands, Sweden, and – for the first time – Denmark. Approximately half of the investors in the Fund are new to SUSI Partners.
Since January 2019, SEEF II has invested approximately EUR100 million (US$108.56 million), with the investment period set to run for another four years following the final close. To date, the portfolio includes a variety of efficiency measures such as LED lighting retrofits, energetic refurbishments of industrial, public and residential premises, efficient heating systems as well as smart metering as a service.
Based on externally certified year-end 2019 calculations, investments across SUSI Partners’ existing energy efficiency platform are expected to result in approximately 4 million tonnes of CO2 savings over the lifetime of the underlying technologies.
