Energy Efficiency

SUSI finances GGE’s energy efficiency portfolio in Slovenia

Photo: GGE


November 17, 2016






November 17, 2016





SUSI Energy Efficiency Fund enters the SEE region and finances a major energy efficiency portfolio with GGE in Slovenia.

The SUSI Energy Efficiency Fund (SEEF) has acquired a portfolio of energy efficiency projects from GGE d.o.o. (GGE), one of the leading energy service companies (ESCO) in South-East Europe. The transaction is structured as a sale of receivables with a consideration of 7.5 million euro. The energy efficiency portfolio includes lighting, heating, cooling and filtration retrofit measures with industrial and public clients in Slovenia. The measures will allow for annual energy savings of 5,300 MWh, reducing COemissions by over 1,130 tons every year, reads the press release published by two partner companies.

With signing of the transaction early October 2016, SEEF provides financing for operational projects as well as projects which are currently in the pipeline once being put into operation. GGE as the owner of the energy efficiency project contracts has a significant track record in the market and will retain the operational responsibility vis-à-vis their clients. This transaction extends SEEF`s geographical footprint within Europe and underlines the ambition to become the preferred financing partner for energy efficiency projects in the SEE/CEE region. The cooperation with SEEF under the financing framework agreement is of strategic importance to GGE and will support the funding of the company’s fast growing project pipeline.

The SEEF is the largest private investment vehicle financing energy efficiency projects in Europe. The SUSI Energy Efficiency AG, a subsidiary of SUSI Partners AG, is the investment advisor of the fund.

“GGE is an excellent partner for SEEF to enter a new region like Slovenia. This cooperation will allow us to tab more of the market potential for energy efficiency retrofits in the coming years,” says Alexander Hunzinger, Director at SUSI Energy Efficiency AG.

“GGE has always been at the forefront of the Slovenia’s energy efficiency sector, successfully opening up new markets in South-East Europe. Gaining access to financing for retrofits and energy efficiency projects is key to our growth strategy moving forward,” Luka Komazec, CEO of GGE, comments.

“The structuring and execution of this portfolio transaction on the back of a receivables purchase framework agreement allows the financing of existing and future projects with different volumes, tenors, cash flow profiles etc. We are convinced that SEEF offers the right one-stop financing solution for a fast growing ESCO like GGE,” Fabian Karger, Vice President at SUSI Energy Efficiency AG, added.

GGE is a leading Slovenian energy service company (ESCO), which develops, installs and operates energy efficiency measures in Slovenia, Croatia, Serbia, Montenegro and other neighbouring countries in the CEE/SEE region. GGE offers a variety of specialized energy solutions that can provide significant improvements in the use of energy and reduce energy costs. The measures include the supply of power, heat & cooling, steam, ventilation, light, etc. to industrial clients or the public sector typically under energy performance and delivery contracting agreements. GGE’s mission is to help our customers make distinctive, lasting and substantial improvements in energy performance.


Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

European heat pump sales drop 2023 layoffs

European heat pump sales drop in 2023, resulting in layoffs

29 February 2024 - Heat pump sales tumbled 4.7% last year in 14 countries tracked by the European Heat Pump Association (EHPA)

IFC loan Serbia largest biomass CHP decarbonize paper industry

IFC approves loan for Serbia’s largest biomass CHP project to decarbonize paper industry

26 February 2024 - IFC facilitated a loan package of EUR 106 million for Serbian tissue paper producer Drenik ND, which is about to build a biomass CHP plant

montenegro eco fund subsidies heat pump solar panels

Montenegro subsidizes solar panels, heat pumps for municipalities

21 February 2024 - The Montenegrin Eco Fund has prepared subsidies in the total value of EUR 150,000

Curbing Energy Demand Not Tomorrow, but Now

Curbing energy demand: not tomorrow, but now

19 February 2024 - Europe is bringing CO2 emissions down, by 8% last year, with two powerful strategies: expanding renewables and reducing energy demand