The SUSI Energy Efficiency Fund (SEEF), a fund advised by SUSI Energy Efficiency AG (a subsidiary of SUSI Partners AG), has signed to new agreements with UrbanVolt and GGE d.o.o.
To be more specific, SEEF has signed a long-term financing agreement with UrbanVolt, an Irish “Lighting as a Service” company. The agreement will for the first time see institutional capital of this magnitude channelled through a dedicated funding facility to finance small scale energy efficiency projects in the SME sector. Up to 30 million euro will be deployed into lighting retrofits in the Irish market using next generation energy efficient LED lighting technology. The deal will result in over 100,000 tonnes of CO2 savings a year, making a very significant contribution to meeting Irish and European energy efficiency targets.
Furthermore, SEEF has acquired a portfolio of energy efficiency projects from GGE, an energy service company (ESCO) in South-East Europe. The transaction is structured as a sale of receivables with a consideration of 7.5 million euro. The energy efficiency portfolio includes lighting, heating, cooling and filtration retrofit measures with industrial and public clients in Slovenia. The measures will allow for annual energy savings of 5,300 MWh, reducing CO2 emissions by over 1,130 tonnes every year.
SEEF is the largest independent investment vehicle financing energy efficiency projects across Europe. Its key objective for all investments is to measurably reduce CO2 emissions and to provide a stable long-term source of funding for dedicated energy efficiency projects. The fund focuses on retrofits of public and private infrastructure including financing energy performance contracts and public street lighting upgrades.