Investment Plan for Europe: EIB participates in SUSI Renewable Energy Fund II
- Release date: 28 July 2016
- Reference: 2016-190-EN
The European Investment Bank (EIB) has signed a subscription agreement with Sustainable Sàrl, a subsidiary of SUSI Partners AG (SUSI), putting into effect the EIB’s investment commitment of up to 62 million euro in the SUSI Renewable Energy Fund II (SUSI RE II). The Investment is guaranteed under the European Fund for Strategic Investments.
The signing underlines Europe’s strategy to invest in environmental sustainability and a sustainable, competitive, and secure energy supply. The portfolio of SUSI’s second renewable energy fund currently comprises already 13 wind and solar farms in Germany, France, United Kingdom, Portugal and Italy, delivering a total output of approximately 170 MW of clean energy.
EIB Vice-President Pim van Ballekom commented: “Renewable energy is high on the list of priorities of the European Fund for Strategic Investments, as well as for the Bank’s lending in general. We have set ourselves a target of committing at least 25% of all our lending to fighting climate change and the EIB’s participation in the SUSI RE II adds significantly to the ways in which the Bank already supports this.”
Miguel Arias Cañete, EU Commissioner for Climate Action and Energy added: “In the EU we are creating initiatives and incentives to facilitate the low-carbon transition. This is an example of local engagement to transform the energy system, and it is local actions like this one that will help meet our climate and energy goals. I encourage the private sector to follow in these footsteps and seize the opportunities the Juncker Plan, the EIB and the energy transition present.”
Dr. Tobias Reichmuth, CEO and Founder of SUSI Partners, on the signing: “We are very pleased to have won EIB as an Investor into the Renewable Energy Fund II. EIB plays a pivotal role in our common endeavour to realize the energy transition and its decision to place such a substantial commitment with SUSI Partners is a clear sign of the confidence of large investors we have acquired through our track record in Renewable Energy financing.”
The fund is optimally diversified technically as well as geographically, with projects throughout the EU. In addition to the projects realized, a solidly growing project pipeline of wind and solar projects, currently amounting to over 270 MW, ensures further attractive investment opportunities.