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SUSI Energy Efficiency Fund
Page 1GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
Learnings from Energy Savings Contract for Buildings in
Monaco
Miguel Saenz, Director, SUSI Energy Efficiency Fund
GIB Summit 2014, Workshop 5
SUSI Energy Efficiency Fund
Page 2GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
Key Information
 Project: Building retrofit of 5 buildings
 Project Structure: Energy Savings
Contract with guaranteed savings
 Public Tender
 Technology Partner: Johnson Controls
 Building owner: Principality of Monaco
 Project duration: 12 years
 Investment volume: EUR 870k
Successful Energy Savings Project with Monaco and Johnson Controls
Energy
consumption
- 23%
Energy Costs
- 27%
CO2 output
- 35%
SUSI Energy Efficiency Fund
Page 3GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
Right Contractual Set-up and Clear Objectives of Tender Essential
 Energy cost savings guaranteed by
Johnson Controls over 12 years
contract duration
 All costs included in tender
(installation, financing, maintenance)
 Clear definition on how savings are
measured
 Clear definition how buildings need
to be operated
 Clear definition of evaluation criteria
e.g. financial benefit versus carbon
reduction
Financing
Investment
EUR 870k
Retrofit
Guaranteed
Savings
Share of savings
Share of savings
Technology Partner
Reduction to
EUR 480k
Total Savings
EUR 177k
Annual Energy Costs
EUR 657k
Property Owner
SUSI Energy Efficiency Fund
Page 4GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
General Learnings from Energy Efficiency Projects Analyzed
Measuring
and
Monitoring
complex
Key Issues seen in
Measuring and
Monitoring Impact
Performance
based contracts
improve
sustainability Clear objectives
and evaluation
criteria
Fair allocation
of risks
There is no
perfect
measuring and
monitoring
Hard
guarantees
important
SUSI Energy Efficiency Fund
Page 5GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
Your contact at SUSI Partners
Miguel Sanz
Director
SUSI Energy Efficiency AG
Feldeggstrasse 12
CH-8008 Zürich
Tel: +41 44 386 98 00
Mob: +41 76 442 98 22
m.sanz@susi-partners.ch
SUSI Energy Efficiency Fund
Page 6GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco
Disclaimer
The material provided herein is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to
buy any securities relating to any of the products referenced herein, notwithstanding that any such securities may currently be
offered to others. Any such offering will be made only in accordance with the terms and conditions set forth in the Private
Placement Memorandum pertaining to SUSI Energy Efficiency Fund (the “Fund”). Investments in the Fund will be subject to
substantial investment restrictions and will be illiquid. Prior to investing, investors are strongly urged to carefully review the Private
Placement Memorandum of the Fund (including the risk factors described therein), the Subscription Agreement to ask such
additional questions of the investment manager of the Fund as they deem appropriate, and to discuss any prospective investment
in the Fund with their legal and tax advisers in order to make an independent determination of the suitability and consequences of
an investment. Investment in the Fund is suitable only for sophisticated investors for whom an investment in such a Fund does not
constitute a complete investment program and who fully understand, and are willing to assume, the risks involved in the Fund. The
role of any particular advisory board member may not be construed as his/her endorsement of any or all of SUSI Partner AG's
representatives, activities, products, plans or strategies.
This presentation is confidential and may not be reproduced or transferred, in whole or in part, to any other party without the
express written consent of SUSI Partners AG.
© Copyright 2014 SUSI Partners AG. All rights reserved.
SUSI Energy Efficiency Fund
Page 7GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco

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SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit

  • 1. SUSI Energy Efficiency Fund Page 1GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco Learnings from Energy Savings Contract for Buildings in Monaco Miguel Saenz, Director, SUSI Energy Efficiency Fund GIB Summit 2014, Workshop 5
  • 2. SUSI Energy Efficiency Fund Page 2GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco Key Information  Project: Building retrofit of 5 buildings  Project Structure: Energy Savings Contract with guaranteed savings  Public Tender  Technology Partner: Johnson Controls  Building owner: Principality of Monaco  Project duration: 12 years  Investment volume: EUR 870k Successful Energy Savings Project with Monaco and Johnson Controls Energy consumption - 23% Energy Costs - 27% CO2 output - 35%
  • 3. SUSI Energy Efficiency Fund Page 3GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco Right Contractual Set-up and Clear Objectives of Tender Essential  Energy cost savings guaranteed by Johnson Controls over 12 years contract duration  All costs included in tender (installation, financing, maintenance)  Clear definition on how savings are measured  Clear definition how buildings need to be operated  Clear definition of evaluation criteria e.g. financial benefit versus carbon reduction Financing Investment EUR 870k Retrofit Guaranteed Savings Share of savings Share of savings Technology Partner Reduction to EUR 480k Total Savings EUR 177k Annual Energy Costs EUR 657k Property Owner
  • 4. SUSI Energy Efficiency Fund Page 4GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco General Learnings from Energy Efficiency Projects Analyzed Measuring and Monitoring complex Key Issues seen in Measuring and Monitoring Impact Performance based contracts improve sustainability Clear objectives and evaluation criteria Fair allocation of risks There is no perfect measuring and monitoring Hard guarantees important
  • 5. SUSI Energy Efficiency Fund Page 5GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco Your contact at SUSI Partners Miguel Sanz Director SUSI Energy Efficiency AG Feldeggstrasse 12 CH-8008 Zürich Tel: +41 44 386 98 00 Mob: +41 76 442 98 22 m.sanz@susi-partners.ch
  • 6. SUSI Energy Efficiency Fund Page 6GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco Disclaimer The material provided herein is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any securities relating to any of the products referenced herein, notwithstanding that any such securities may currently be offered to others. Any such offering will be made only in accordance with the terms and conditions set forth in the Private Placement Memorandum pertaining to SUSI Energy Efficiency Fund (the “Fund”). Investments in the Fund will be subject to substantial investment restrictions and will be illiquid. Prior to investing, investors are strongly urged to carefully review the Private Placement Memorandum of the Fund (including the risk factors described therein), the Subscription Agreement to ask such additional questions of the investment manager of the Fund as they deem appropriate, and to discuss any prospective investment in the Fund with their legal and tax advisers in order to make an independent determination of the suitability and consequences of an investment. Investment in the Fund is suitable only for sophisticated investors for whom an investment in such a Fund does not constitute a complete investment program and who fully understand, and are willing to assume, the risks involved in the Fund. The role of any particular advisory board member may not be construed as his/her endorsement of any or all of SUSI Partner AG's representatives, activities, products, plans or strategies. This presentation is confidential and may not be reproduced or transferred, in whole or in part, to any other party without the express written consent of SUSI Partners AG. © Copyright 2014 SUSI Partners AG. All rights reserved.
  • 7. SUSI Energy Efficiency Fund Page 7GIB Summit 2014 – Learnings from Energy-Efficiency Contracts for Buildings in Monaco

Editor's Notes

  1. To best explain how to use Criteria for Measuring and Monitoring Impact we choosen a project with the Government of Monaco. XXXX
  2. Monaco had a clear goal for their Tender: They wanted to save energy costs and the wanted to reduce their carbon footprint to meet Monacos Kioto targets. -> Tender on total cost of Ownership e.g. total net energy savings for Monaco and tender including all costs. This means besides costs to upgrade equipment also all project management costs, maintenance costs and financing costs are included in project -> The payments to Johnson Controls and SUSI Partners depend entirely on realized savings. Minimum savings are guaranteed by Johnson Controls -> Tender hat a very clear evaluation criteria, e.g. biders competed on total financial savings over entire life of equipment plus on Carbon Savings they guarantee. -> Essential to exactly define how savings are measured e.g. - Clear baseline - Clear measurement of savings - Clearly defined parameters how to operate the buildings We clearly see, that with such an approach, siginficantly higher and guaranteed savings can be achieved, compared to a normal equipment upgrade tender.
  3. 4