SUSI Energy Efficiency Fund

Transcription

Customized financing solutions for investments in energy efficiency projects
of industrial processes, buildings and public infrastructure
Presentation for Federchimica 2015
Page 1
01 Summary >> 02 About SUSI Partners >> 03 Business model >> 04 Typical projects >> 05 Business opportunities
SUSI Energy Efficiency Fund (SEEF) invests € 300m over the next 2 years
Attractive financing structure
Benefits for the technology partner

100% Investment Volume

Fast offering to clients due to secured financing solution

Off Balance Sheet Financing Structure

Access to a attractive project-pipeline

Financing of new and refinancing of operational projects

Increase of realizable energy efficiency projects
Value Proposition
Partnership

Unique business model is bridging financing gap
The SEEF finances energy efficiency retrofits of buildings,
manufacturing facilities and public infrastructure and
obtains a share of the energy savings.


Multi-win character
1. Energy Service Companies (ESCOs) can grow their
business gaining access to financing for profitable
retrofits in energy efficiency.
2. Clients get free upgrade of their buildings, production
facilities and/or infrastructure and realize energy cost
savings.
3. The fund achieves attractive returns for its investors.
4. The environment profits from measurable green house
gas reductions.
Partnership with technology partners to finance energy
efficiency projects of clients with a tight investment budget.
SUSI is looking for technology partners supporting clients with
energy efficiency solutions. In cases of a tight investment
budget from the client side, the SEEF provides a 100%
financing of the investment volume.
Page 2
SUSI Partners AG addresses the three main pillars of energy infrastructure
SUSI Partners AG
Founders:
Tobias Reichmuth,
Otto von Troschke
Verwaltungsrat:
Board
of Directors:
Jürg Bucher (Präsident), Kai-Uwe Ricke, Prof. Dr. Uwe Krüger, Stephanie Schoss, RA Björn Bajan
Jürg Bucher (President), Kai-Uwe Ricke, Moritz Leuenberger (former Minister of Energy and
Federal President of Switzerland), Prof. Dr. Uwe Krüger, Stephanie Schoss, Björn Bajan
Renewable Energy
Energy Efficiency
SUSI Sustainable Euro Fund I
(Solar- and wind projects in
Western Europe; closed)
(Financing Energy Efficiency
measures through a
contracting model;
in investment phase)
SUSI Renewable Energy Fund II
(Solar- and wind projects in
Western Europe; fundraising
ongoing)
Energy Distribution
and Storage
Storage capacity
for utilities; planned for
2015
Page 3
Business model with guaranteed cost reduction
Energy saving contracting (illustration)
Rising energy prices: limit your exposure
EU targets: «3 times 20 till 2020»
Energy Costs
Energy costs
without
implementation

Reduction
in energy
costs for
the client


Energy
costs after
implement
ation
Contract duration
Time
Commencement of contract
End of contract
 In an energy saving contract arrangement, the ESCO plans, builds,
finances (optional) and operates all measures that are necessary
to achieve energy savings.
 In return, the ESCO receives a portion of the savings in energy
costs, to cover expenditures for financing, planning and controlling
and implementing the project.
 The SUSI Energy Efficiency Fund takes the role of the financing
party in the contract, while the technical obligation is actually
fulfilled by an ESCO.
 The ESCO guarantees the savings that are to be achieved by the
project.
Reduction of EU greenhouse gas emissions by at least 20 % below
the level of 1990.
Increase the share of renewable energy sources of the EU’s gross
final energy consumption to at least 20 %.
Reduction of primary energy consumption by 20 % compared to
the extrapolation of today's consumption through improvements in
energy efficiency.
Regulations – Risk of rising prices
 Increased retrofit regulations are expected in the coming years; it is
possible to save money and sustain the value of the buildings with
an early retrofitting.
 Taxes increase energy prices.
Expectation from tenants/clients
 Tenants are looking for energy efficient buildings.
 Clients are looking for energy efficient products.
The energy price risk exposure can be lowered
significantly through energy efficiency retrofits.
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SUSI Partners offers solutions for financing energy efficiency projects
Energy efficiency project example
Client
Comments
Contractor/ESCO
 Together with an ESCO, the fund identifies projects, for example

retrofit of
industrial plant


annual energy costs:
€ 3.0 m
reduced
energy costs:
€ 2.2 m
total savings:
€ 0.8 m
25% energy
initial
savings:
investment:
€ 0.20 m
€ 4.0 m
5% service
payments
€ 0.04 m
guaranteed
minimum
savings
70% energy savings:
€ 0.56 m


large industrial plants or buildings that meet the requirements
of the fund.
The ESCO assesses the energy savings potential achievable
through the retrofitting of lighting, heating, cooling, building
management systems, etc.
If the project is approved, the fund will conduct Due Diligence
and assess the Investment.
Depending on the contractual structure the fund signs a
contract with the owner/client receiving typically 50-90% of the
energy savings over a 4-12 year period.
Technology risks are mitigated by the ESCO, which issues a
minimum savings guarantee.
At the end of the contract the full project rights and energy
savings are handed over to the owner/client.
Investment of € 4.0 m and
return of € 5.6 m over 10 years
(less operating costs, fund costs,
etc.; not taking into account
inflation )
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SUSI Energy Efficiency project focus and investment criteria:
Types of projects
Project selection criteria
Industrial processes




electric motors
pumps
heat recovery
etc.
Buildings




heating, ventilation and air conditioning
building management systems
lighting
etc.
potential
projects
project duration of 4-12 years
investment volume of EUR 3 to 30 m
focus on Western Europe and EUR
positive environmental impact
proven technology
Public infrastructre





street lights
hospitals
public swimming pools
public facilities
etc.
solid credit rating of customer
projects
Page 6
Typical projects of the SUSI Energy Efficiency Fund
Project
Implemented efficiency measures
Simple
payback
Major German car
manufacturer
Complete replacement of the lighting
system with LED lights
2.3 years
€ 3.5 mio
Service contract with SUSI as
counter party
Three school buildings in
Baden-Wurttemberg
Execution of various energy efficiency
measures
8.7 years
€ 2.0 mio
Forfaiting of customer payments
from EPC contract
Retrofit of residential building
in Madrid
Efficiency measures concerning HVAC1 and
building management system
8.7 years
€ 1.9 mio
from EPC contract
Shopping mall in Scandinavia
Retrofit of ventilation, heating system and
building management system
8.0 years
€ 1.4 mio
from EPC contract
Building portfolio retrofit
large German logistics
company
Efficient heating system incl. CHP2 plants;
LED lighting and building management
system
€ 10.1 mio
Savings sharing agreement
integrated in Facility Mgt.
contract
Retrofit of glass plants of
international manufacturer in
Germany
Various measures including installation of
waste heat recovery and CHP2 plant
International multi-site
project of generics producer
Various energy efficiency measures
Efficient retrofit of public
hospital in Germany
Various energy efficiency measures,
especially retrofit of HVAC1 systems
7.6 years
6.7 years
Investment
€ 4.2 mio
Financing structure
EPC contract with off-balance
lease solution
3.9 years
€ 8.8 mio
Frame contract with ESCO and
individual service contracts with
plants
6.1 years
€ 1.0 mio
from EPC contract
1) HVAC: Heating Ventilation Air Conditioning; 2) CHP: Combined Heat and Power
Page 7
SUSI helps ESCOs to build up their business
SUSI offers
Committed financing allocation
 Reassures ESCOs that enough financing is available
to cover their pipeline.
Aligned offering process
 Timely financing offer that enables fast customer
response
Standard contractual setup
 Reduces due diligence effort.
 Permits quick and efficient execution
Flexible finance structures
 Variable cash flow model
 Savings sharing participation / indexation
 Off-balance sheet structures for customers
Pre-defined cost-plus financing
 Allows quick fixed price offers
 Assures financing is available before taking the
solution to market
Benefits for ESCO/Contractor

Attractive and competitive offer to their customers

No owner capital requirement

Innovative financing offers and One-stop financing
solution

Access to third party project pipeline
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Long term maintenance and operations contracts
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Improved scalability

Reduced transaction costs

Stable, long-term partnership
Page 8
SUSI is looking for strategic partners to conduct energy efficiency projects

Multi win character
The business model has a multi win character and brings benefits for the Technology Partner, the Client, the Fund and the
Environment.

Bridging the financial gap
Frequently, energy efficiency projects are being rejected because of budget constraints of the client. The SUSI Energy Efficiency
Fund bridges this financial gap and offers the possibility to quickly implement energy-saving measures, regardless of tight
investment budgets.

Reference project for potential assessment
Based on financial/technical parameters of selected projects the eligibility for financing will be assessed in a first step, and
secondly a reference project can be implemented within a short time frame.

Leveraging partnership is essential to accessing potential market
Working with agreed-upon terms allows all parties to work in a collaborative mode, while having pre-defined and pre-packaged
financing solutions reveals growth potential into new market segments, as well as currently underserved segments.
Page 9
Your contacts at Sviluppo chimica and SUSI Partners
Stefano Fissolo
Vice President
SUSI Energy Efficiency AG
Bellerivestrasse 36
CH-8008 Zürich
Tel: +41 44 386 98 20
Mob: +41 76 822 98 20
s.fissolo@susi-partners.ch
Page 10
Disclaimer
The material provided herein is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to
buy any securities relating to any of the products referenced herein, notwithstanding that any such securities may currently be
offered to others. Any such offering will be made only in accordance with the terms and conditions set forth in the Private
Placement Memorandum pertaining to SUSI Energy Efficiency Fund (the “Fund”). Investments in the Fund will be subject to
substantial investment restrictions and will be illiquid. Prior to investing, investors are strongly urged to carefully review the Private
Placement Memorandum of the Fund (including the risk factors described therein), the Subscription Agreement to ask such
additional questions of the investment manager of the Fund as they deem appropriate, and to discuss any prospective investment
in the Fund with their legal and tax advisers in order to make an independent determination of the suitability and consequences of
an investment. Investment in the Fund is suitable only for sophisticated investors for whom an investment in such a Fund does not
constitute a complete investment program and who fully understand, and are willing to assume, the risks involved in the Fund. The
role of any particular advisory board member may not be construed as his/her endorsement of any or all of SUSI Partner AG's
representatives, activities, products, plans or strategies.
This presentation is confidential and may not be reproduced or transferred, in whole or in part, to any other party without the
express written consent of SUSI Partners AG.
© Copyright 2015 SUSI Partners AG. All rights reserved.
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SUSI Energy Efficiency Fund

Transcription

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