SUSI Partners’ European energy projects financing vehicle has completed its first deal in Germany with the financing of smart meter projects.
The Swiss investment manager’s €200m SUSI Energy Efficiency Fund I (SEEF I) fund has agreed to finance a €6m portfolio of the 10 B2B projects being assembled by Discovergy.
As part of the agreement with the smart meter solutions provider, further projects with a total volume of up to €15m will be added in the coming months, SUSI said.
Fabian Karger, the vice president at SUSI Partners and responsible for the transaction, said: “Our financing solution was structured along the specific requirements for smart meters, such as the fragmentation of the customer contracts or the significant capital employment for the project sponsor.
“With a strong partner like Discovergy, we are ideally positioned to continue our growth in this dynamic market in the coming years.”
Bernhard Seidl, CFO of Discovergy, said:”The cooperation with SUSI Partners helps us to significantly scale our business model. We consistently re-invest the released capital into the growth and further development of our company.
“In addition, this financing has enabled us as managing directors to retain a majority stake in the company even after conclusion of an equity capital increase.”