SUSI Partners AG, a Swiss investment manager that focuses on financing sustainable energy infrastructure, has held a €252 million ($293 million) final close for SUSI Energy Storage Fund (SESF). The fund received capital commitments from institutional investors in Germany, the Netherlands, Austria, Sweden and Switzerland.
SUSI Partners AG launched the world’s first dedicated energy storage infrastructure fund in early 2017 with the aim of bridging the gap between volatile renewable energy supply and the electricity demand curve by means of decentralized storage capacity. The energy storage fund invests OECD-wide in projects using different storage technologies, whereby technology risks are outsourced by long-term manufacturer guarantees.
The SUSI Energy Storage Fund has already completed two investments, allocating approximately €90 million ($104.8 million). Both projects benefit from long-term visible cash flows; the technologies used include lithium-ion batteries and flywheels. The investment team is also currently working on four transactions, representing another €90 million ($104.8 million).
