SUSI energy efficiency fund nears full deployment

The vehicle’s second Spanish deal will see it purchase the receivables from an energy efficient lighting agreement in the municipality of Calafell.

Swiss-based fund manager SUSI Partners has clinched its second energy efficiency deal in Spain with the purchase of non-recourse receivables tied to a contract between Rubatec and the municipality of Calafell, near Barcelona.

Rubatec helped upgrade Calafell’s street lighting with energy efficient bulbs, cutting the municipality’s energy consumption by 60 percent. SUSI’s purchase, closed for an undisclosed amount, will free up liquidity for Rubatec.

The deal is being done out of the €250 million SUSI Energy Efficiency Fund, which is now majority deployed, Infrastructure Investor understands. The vehicle was launched in January 2014. SUSI’s previous deal in Spain also saw it acquire receivables from a street lighting upgrade.

In addition to its energy efficiency vehicle, SUSI manages a suite of clean energy funds, including a pioneering storage vehicle. Its most recent launches include a €250 million renewables fund with The South Pole Group focusing on South-East Asia, as well as a €1 billion global renewable energy fund to launch in the fourth quarter.