28
Thu, Mar
51 New Articles

Reed Smith Advises Sirec Energy on EuSIF Closing

Reed Smith Advises Sirec Energy on EuSIF Closing

Greece
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Reed Smith has advised investor and manager Sirec Energy on the final closing of the European Sustainable Investments Fund, a Greek green-energy fund with total commitments of EUR 70 million.

Sirec Energy is a private equity firm focusing on energy efficiency, circular economy, and energy production from renewable sources. "Sirec Energy is the manager of EuSIF and, at the same time, participates with a considerable amount of its own capital in the fund," the firm informed.

According to Reed Smith, "EuSIF invests exclusively in Greece in the equity of projects relating to environmental sustainability. More specifically, EuSIF invests in projects that achieve energy saving and energy production from renewable sources and projects of the cyclical economy. The fund, which held its first closing in June 2021 with total commitments of EUR 50 million, has until now invested in numerous projects of LED lighting upgrades in Municipalities, that achieve an energy reduction of around 70%, as well as in projects that deploy solar parks on the roofs of industrial buildings and produce energy which is consumed through net metering."

Moreover, according to the firm, “EuSIF has developed a projects pipeline that relates to energy upgrades and repositioning of existing commercial buildings, development of solar and wind parks, waste management, and production of biofuels. Through its equity contribution, EuSIF will participate in projects in the Greek market with a total value in excess of €500m."

The Reed Smith team included London-based Partners Panos Katsambas and Shervin Shameli and Athens-based Associate George Fountas.

Reed Smith did not respond to our inquiry on the matter.

Our Latest Issue