SUSI Partners is extending its longstanding partnership with German energy service company Open House of Energy (“OHOE”) to finance another round of lighting-as-a-service projects with a well-known car manufacturer and a metal processing company.
As part of the latest transaction between SUSI and OHOE, the two parties have renewed their framework agreement to efficiently finance projects through SUSI’s third credit vehicle, the SUSI Energy Efficiency and Transition Credit Fund (“SEETCF”). The partnership with OHOE will allow SEETCF investors to gain exposure to the attractive German energy efficiency market with a reliable partner that delivers stable deal flow with creditworthy end customers.
The agreement builds on the strong track record of the partnership, which was established in 2018. Since then, SUSI has financed 13 of OHOE’s lighting-as-a-service projects through seven transactions stretching across all three vehicles in SUSI’s credit series and combining for a financing volume of close to EUR 15 million to date. By replacing deprecated lighting infrastructure with highly efficient LED lighting technology, the financed projects are estimated to lead to electricity savings of approximately 40,000 MWh per year, which is enough to meet the electricity demand of approximately 12,000 German households.
SUSI’s credit strategy focuses on senior-secured, asset-backed financing solutions for infrastructure-as-a-service business models with a defensive risk profile. By establishing long-term relationships with energy service companies and other partner firms that originate and aggregate individual projects into larger project portfolios, SUSI manages to invest institutional capital at scale into energy transition applications that – due to smaller associated project sizes – are often underserved.
Find more details on SUSI’s credit strategy HERE.
