The MDDP Olkiewicz and Partners is an advisor to SUSI Partners, a Swiss fund which is implementing an innovative project worth EUR 30 million in Poland in the Light-as-a-Service (LaaS) formula, i.e. providing lighting as a service. MDDP was responsible for developing the structure of the transaction (including tax aspects in cooperation with the MDDP tax advisory) and the preparation of a complete set of transaction documentation – both the framework agreement and the agreement regarding the first tranche of financing.
The key assumption of the project is that Luneos, a Polish company with which the Swiss investment fund SUSI Partners has concluded a cooperation agreement, will modernize its clients’ lighting systems with energy-saving LED lighting, which will lead to significant energy savings and lower maintenance costs as well as higher quality lighting.
Christopher Tschamler, Transaction Manager at SUSI Partners AG: “We are proud to be able to work with a very experienced and efficient team in Poland with a proven track record in the energy industry. Thanks to our structured financing structure, we offer tailored financing solutions and are a reliable partner for Luneos and its customers.”
Zbigniew Prokopowicz, Luneos CEO: “The funds provided by the European leader in energy transformation financing allow us, for the first time in Poland, to finance long-term energy efficiency projects for companies from the SME sector. We believe in the effectiveness of selling light as a service and can observe growing interest in it, especially in the context of the recent significant increase in electricity prices for SMEs in Poland.
Tomasz Olkiewicz, Managing Partner at MDDP Olkiewicz and Partners: “Working with the energy transformation market leaders on an innovative energy project is also a challenge to create pioneering legal solutions. As part of the proposed legal and tax structures and cooperation between business partners, we had to take into account, among other things, the specificity of the new model of selling energy services to end customers.
About SUSI Partners AG & SUSI Energy Efficiency Fund I
SUSI Partners AG is an innovative Swiss investment company specializing in sustainable infrastructure investments supporting the energy transformation. It currently manages four funds in the areas of renewable energy, energy efficiency and energy storage. The goal of all funds is to achieve stable, market-independent returns by investing in projects with a measurable environmental impact.
SUSI Energy Efficiency Fund I (SEEF I) and SUSI Energy Efficiency Fund II (SEEF II) are the leading independent investment tools for financing energy efficiency projects in Europe. SEEF I has equity capital of EUR 200 million and SEEF II, benefiting from its predecessor’s good track record and extensive partner network, has already raised EUR 148.6 million in investor commitments as of July 19, 2019.
SUSI Partners AG is also working on the launch of the SUSI OECD Energy Transition Strategy (with assets of EUR 1 billion) and the SUSI Asia Energy Transition Strategy (with assets of EUR 250 million).
Luneos is a Polish company offering a comprehensive “Light-as-a-Service” solution, ensuring energy savings and improvement of light quality as a result of modernization of lighting from traditional sources to LED lighting. The services include the evaluation of existing lighting solutions, design, financing, implementation and service of new LED devices for a maximum period of 10 years. Luneos focuses in particular on small and medium-sized enterprises in the industrial, logistics and retail sectors, and smaller corporate customers, served by a nationwide network of developers and engineers. Luneos works with leading domestic manufacturers of advanced LED lighting systems, as well as experienced installers and service technicians. Luneos was founded and is run by a team of experts experienced in the new energy sector.