New fund invests in energy efficiency – LeaseGreen and Sitra to co-operate
Sitra, along with a number of private investors, is investing in Finland’s first energy efficiency fund. LeaseGreen, a company specialising in energy efficiency services, has developed an innovative investment model for the financing of investments in the built environment, all with the aim of increasing efficient energy use.
“We have launched a fund concept that provides an all new tool for launching energy efficiency measures,” says Juho Rönni, Chief Financial Officer at LeaseGreen.
“Technological advances and rising energy prices for the end user have made energy saving worth the effort, even more sensible than before. The highest potential for savings lies in a fragmented field: in the built environment and the interfaces of business activities. Our aim is to briskly expedite investments in energy efficiency.”
The NegaWatt Energy Efficiency Fund 1 Ky will begin investing immediately with the aim of demonstrating the new operating model for potential investors in the next fund. NegaWatt Energy Efficiency Fund 2 Ky will then begin its activities in the latter half of 2014. LeaseGreen’s overall objective is to invest 100 million euros in energy efficiency in 2014-2016.
“The NegaWatt fund is a important financing innovation that may significantly expedite the channelling of capital into the energy efficiency of buildings,” says Sami Tuhkanen, Director, Business Development and Funding at Sitra. “Sitra decided to participate in the first fund as the anchor investor because in our view the fund suits Sitra’s objectives of a resource-wise and carbon-neutral society very well. In addition, the fund is a prime example of a responsible investment target because it can contribute to improving the national economy’s competitiveness, reducing both dependency on imported energy and carbon dioxide emissions.”
For further information, please contact:
Juho Rönni, Chief Financial Officer, LeaseGreen Group Oy
Tel. +358 (0)40 824 8780 firstname.lastname@example.org
Sami Tuhkanen, Director, Business Development and Investments, Sitra, the Finnish Innovation Fund
Tel. +358 (0)40 548 3482 email@example.com