- SUSI Partners, through its Energy Efficiency Fund II (SEEF II), signs a framework agreement with Norwegian energy service company SASTECH for the financing of energy efficiency projects in Norway and selected European countries
- The partnership will focus on optimising the energy use of large and energy-intensive commercial buildings
- The agreement sees SUSI’s credit platform invest in Norway for the first time, extending its reach to now 18 European countries
Zug/Zurich, 1 November 2022 – SUSI Partners, through SEEF II, is partnering with Norwegian energy efficiency specialist SASTECH for the financing of energy optimisation solutions with a focus on large commercial buildings owned by corporates and public-sector entities. Based on an initial portfolio of five projects located in Norway, the two parties are looking to expand their cooperation into further European countries in the near future.
SUSI Partners’ well-established credit financing model will allow SASTECH to implement its solutions without requiring any upfront capital expenditure from its customers, thus extending its project pipeline and accelerating the implementation of energy efficiency measures in Norway and beyond. Prevalent measures in SASTECH’s offering range from the installation of heat pumps and heat-recovery systems to rooftop solar PV and battery storage systems. SASTECH is led by an experienced management team around renewable energy pioneer Dr Alf Bjørseth.
The recent energy price hikes, volatility and resulting concerns about energy security have led many enterprises to refocus on energy efficiency, where energy costs and energy independence were previuosly not an investment focus. While energy consumption is usually closely assessed in energy-intensive industrial companies, owners and operators of commercial properties are increasingly recognising the benefits of reducing their energy consumption as well. Accordingly, specialised energy service companies such as SASTECH have seen increased demand for their services, the fullfilment of which is facilitated by SUSI Partners’ bespoke financing solution.
With this framework agreement, SUSI Partners’ credit platform expands its footprint in the Nordics, investing in Norway for the first time, and increasing the number of countries covered to 18. With the approaching conclusion of the investment period of SEEF II, SUSI has commenced fundraising for the successor, the SUSI Energy Efficiency and Transition Credit Fund, which is expected to reach a first close before the end of the year.