Ternienergia And Susi Energy Efficiency Fund Signed An Agreement For The Sale Of Credits For Euro 1.2 Million

TerniEnergia, smart energy company active in the fields of renewable energy, energy efficiency, waste and energy management, listed on the Star segment of the Italian Stock Exchange and part of Italeaf Group, and a securitization company controlled by Susi Partners AG, managing authority of the SUSI Energy Efficiency Fund have signed today an agreement for the sale without recourse of loans of approximately Euro 1.2 million, paid in cash, related to lighting energy efficiency assets installed by TerniEnergia.

In particular, TerniEnergia operates as ESCOs (Energy Service Company) directly and through the platform “Hub”, a new strategic alliance formula between all players in the energy industry to open up the sector to the capital market. Susi Partners AG is an “investment advisor” with experience in the development of sustainable energy infrastructure. Always engaged in supporting European investment for the energy transition, even long-term, Susi Partners AG is also active in the field of energy efficiency systems in Italy.

The agreement signed today provides for the sale, without recourse formula, of a TerniEnergia’s loan portfolio arising from private contracts. These credits will be sold to a SPV, regulated under Italian law, related to Susi Partners AG as part of a securitization of receivables ex L.130 / 99. The nominal value of the receivables involved in the transaction is approximately equal to Euro 1.2 million.The transaction will allow TerniEnergia to support the growth of the energy saving activity, through the proposal to private companies and public entities with high added value services for the design, implementation and management of interventions to reduce energy consumption, in lighting areas (even with proprietary technologies), heat, electricity supply and the plant consumption.

The credit portfolio sale agreement is conditional on the occurrence, by 3 September 2016, of a number of conditions including the finalization and signing of all documents relating to the transaction by the previous Banks lenders of the ESCo projects.

Mr. Stefano Neri, CEO of TerniEnergia stated:
“This is a strategic agreement for TerniEnergia, through the replication of the structure of this sale and securitization to future contracts deriving from the “Hub”, it gives concrete and proof possibility to solve the main problem in the development of energy efficiency, the difficulty of access to the capital market. Thanks to the Hub, TerniEnergia represent itself as subject aggregator of the player involved in the construction of energy efficiency intervention, through a proper project risk management system and business plan assessment, assuming the responsibility. What we look for are not final customers, but energy service providers, from which we receive and which we remunerate services and technologies to facilitate the convergence with the capital market, aggregating and making critical mass”.

Mr. Stefano Fissolo, Vice President of Susi Partners AG for Energy Efficiency, stated:
“The energy efficiency fund promoted by SUSI plays the role of so-called “third lender” in the contracts signed between ESCOs and end customers. The deal just signed, our third in Italy, demonstrates how the SUSI team is able to evaluate sizes and types of project normally rejected by investment funds, with the idea to create a platform to catalyze new projects and then new investments. SUSI Energy Efficiency intends to continue to invest in the Italian market for at least the next eighteen months”.

TerniEnergia recalls, finally, that it is ended a three-day roadshow for the presentation of the HUB to the industrial communities of the sector energy efficiency of the center-north Italy. After the presentation of Milan, which took place in February, the company organized a series of events dedicated to the ideal partners of this platform (ESCOs, engineering firms, installers, manufacturers of technologies), which reached the cities of Rome, Turin and Padua with three events dedicated to the creation of a network designed to solve the difficulties of access to finance for energy saving interventions.