Swiss fund manager Susi Partners, through SEEF II, is partnering with Norwegian energy efficiency specialist Sastech to finance 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 said that its credit financing model would 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 framework agreement sees 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.