Following earlier investments by SUSI Partners in the United States, its credit platform is now also expanding its reach to this market by signing a financing agreement with OBE Power, an owner and operator of electric vehicle charging infrastructure.
As the firm’s first investment in this sector, and the first credit investment outside of Europe, the transaction highlights SUSI’s approach to energy transition investments as the firm transitions to the deployment of its third credit fund, the SUSI Energy Efficiency & Transition Credit Fund.
SUSI’s credit financing solutions, which are focused on energy-as-a-service business models, match OBE Power’s offering perfectly. OBE Power specializes in destination charging solutions in convenient urban locations based on long-term contractual agreements with municipalities, fleet operators and owners of real estate, such as office and apartment buildings, hospitals, recreational facilities and parking garages. OBE Power plans to leverage SUSI’s financing to expand from a regional footprint across Florida and Texas to a national presence across the United States.
The investment with OBE Power will be among the final transactions funded by SEEF II, as the fund is expected to be fully invested more than a year ahead of its investment period ending. Combined with SUSI’s first energy efficiency fund, the firm has now deployed more than EUR 600 million through its credit platform, a track record that SUSI is poised to build on as it starts shifting its attention to the successor vehicle, the SUSI Energy Efficiency and Transition Credit Fund, which had a first closing at the end of 2022.
