SUSI Renewable Energy Fund II (SUSI RE II), advised by SUSI Partners AG, has plans to achieve final closure by the end of Q2, 2016.
With its two latest investments, a 15 MW wind farm in France and a 2 MWp solar plant in Italy, SUSI RE II surpassed the investment mark of €100 million (US$114 million).
After a successful intermediate closing at €146.5 million (US$167 million) in February, followed by an investment commitment by the European Investment Bank (EIB) of €66 million, the SUSI RE II is on solid track to final closing by the end of Q2 2016.
The fund portfolio currently comprises 13 wind and solar farms in Germany, France, United Kingdom, Portugal and Italy, delivering a total output of approximately 170 MW of clean energy and is optimally diversified technically as well as geographically. The portfolio acquired is projected to exceed Fund return targets. In addition to the projects realized, a solidly growing project pipeline of wind and solar projects, currently amounting to over 270 MW, ensures further attractive investment opportunities.
Otto von Troschke, CIO of SUSI Partners, comments:
"The successful allocation of over €100 million proves that due to its strong European network to developers and its efficient due diligence process, SUSI is a preferred financing partner. With the recently closed transactions in France and Italy, we have already achieved excellent diversification of the fund portfolio. The upcoming projects, financed with additional capital from the Final Closing, will further optimize diversification.”
Further, SUSI received an investment commitment by the EIB in March 2016. EIB, the world's largest international public lending institution, is planning to invest €66 million into SUSI RE II.
Dr. Tobias Reichmuth, CEO of SUSI Partners, added:
"EIB’s intention to invest in SUSI RE II clearly demonstrates that SUSI, as an experienced investment advisor, is a trusted partner to large investors and successfully passes the most rigorous due diligence processes.”