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SUSI lights up Finland with €15m deal

Following on from the firm’s wind success in the country, SUSI’s energy efficiency fund has arrived in Finland to finance lighting projects.

SUSI’s Energy Efficiency Fund has agreed a €15 million deal to finance LED lighting projects in Finland alongside local company Greenled.

The agreement will see the developer retrofit commercial, industrial and street lighting to deliver what it hopes to be €2.5 million of savings per year. SUSI will finance a selected number of both small and large-scale projects through the acquisition of receivables to the tune of €15 million by the end of 2018.

Greenled said the deal will allow the company to free up capital to finance growth elsewhere in Europe, with the company eyeing investments in neighbouring Sweden and in Germany.

The partnership represents SUSI’s second deal in Finland in less than a month. In October, the Swiss firm’s second renewable energy fund bought the 21MW Kopsa I wind farm from Finnish utility Puhuri Oy. The company said at the time that it would be looking to make further deals in Finland’s wind and energy efficiency sectors, as well as in the country’s nascent solar industry.

“We see a strong potential for further energy efficiency projects in the local public and industrial sector, which we are keen to be part of,” Alexander Rothlin, director at SUSI Energy Efficiency, said today.

SUSI’s €250 million vehicle recently also concluded deals in Italy and Ireland. It has now made nine lighting retrofit investments over the past year.