The SUSI Renewable Energy Fund II (SUSI RE II) has reached final closing at €380 million (US$425.5 million).
In the process of final closing, a single investment of over €100 million (US$112 million) has been placed by a Dutch pension fund; the European Investment Bank (EIB) signed a ticket of €62 million (US$69 million). Further investments have been placed through SUSI’s new registered bond solution.
The majority of investors are pension funds and insurances as well as the EIB.
The portfolio of the fund, who saw first closing in Spring 2015, now comprises investments of over €115 million (US$128 million) in 14 wind and solar farms (closed or signed) in Germany, France, Finland, United Kingdom, Portugal and Italy, delivering a total output of over 210 MW of clean energy and is already very well diversified technically as well as geographically. The solidly growing project pipeline of 270 MW in wind and solar projects ensures further attractive investment opportunities.
The additional funds from final closing will be invested in further solar and wind projects within the coming 30 months. The SUSI REII succeeds SUSI’s Renewable Energy Fund I which is fully invested in 12 solar and wind farms with a total volume of €200 million (US$224 million).
Dr. Tobias Reichmuth, CEO and Founder of SUSI Partners, on the closing:
“Several of the fund’s first and second closing investors raised their commitments into the fund, which is partly owned to our efficient investment process. The fact that three final closing investors signed commitments between 50 and 100 million euro is a clear sign that SUSI is well established in the institutional investor world.”
Otto von Troschke, CIO and Co-Founder of SUSI Partners adds:
“With the successful final closing, the fund can now realize projects amounting to an expected total volume of 1 billion euro and SUSI further strengthens its position as one of the most active European fund advisors for renewable energy. Our strong network resulting from 26 wind and solar transactions provides us with excellent access to attractive projects with reliable partners, allowing the efficient continuation of our diversification strategy.”