The SUSI Energy Efficiency Fund will be a financing partner for an energy-saving contract signed between the Italian energy service company Gemmo and the city of Lecce. According to a news release, around 21,000 of the city’s street lights will be retrofitted and upgraded into an energy-efficient lighting system, allowing Lecce to save around 10.9 GwH in annual energy consumption.
“Being our second Italian transaction in a short time, our engagement in this project shows that the fund’s business model of reducing existing infrastructure’s environmental impact while generating safe and stable long term returns to our investors is a success story in Italy as well,” says Tobias Reichmuth, founder of SUSI Partners and director of Sustainable Sàrl in Luxemburg, which manages the fund.
“We are happy to have created a win-win situation, allowing this community to save costs on energy and enhance the carbon footprint while giving Gemmo leeway to invest in new projects,” adds vice president at SUSI Partners, Stefano Fissolo.