Philips Lighting implements European carbon-saving lighting projects through SUSI Energy Efficiency Fund

February 14, 2018

  • Agreement with SUSI Partners supports Philips Lighting’s roll out of ‘Light as a Service’ across Europe
  • SUSI-financed projects expected to achieve aggregated emission savings of up to 90,000 tonnes of CO2

 

Eindhoven, the Netherlands – Philips Lighting (Euronext: LIGHT), the world leader in lighting, has selected SUSI Partners’ SUSI Energy Efficiency Fund (SEEF) as financing partner to implement Light as a Service (LaaS) projects to help European lighting customers upgrade their lighting to more energy-efficient systems and reduce carbon emissions.

 

The SEEF-financed LaaS projects are expected to achieve aggregated carbon emission savings of up to 90,000 tonnes of CO2 due to the upgrade to energy-efficient LEDs. LaaS includes the design, building, operation and maintenance of new lighting installations, with no upfront investments for the customer and costs of the lighting being spread over a predetermined period of time. The customer immediately realizes savings on energy costs and repays the project from these savings. It also guarantees the outcome on light levels, energy and uptime.

 

Under the agreement, Philips Lighting can embed financing from SEEF into its customer proposition, on a flexible and repeatable basis. This innovative facility allows Philips Lighting to further expand its project pipeline and supports its LaaS business model throughout Europe. The initial agreement covers projects in Belgium, Germany, the Czech Republic, the Netherlands, Poland, Portugal and Spain, with other countries soon to follow. 

 

“We believe that our collaboration with SUSI will have a significant impact on the sustainability profile of our customers in Europe,” said Stéphane Rougeot, CFO at Philips Lighting. “Light as a Service projects have an important contribution to the objectives set out in our Brighter Lives, Better World sustainability program and contribute to the rapid growth of our systems and services business.”

 

Philips Lighting aims to generate 80% of its total revenue from sustainable products, systems and services by 2020. In 2017, the company achieved 77.3% sustainable revenues.

 

“We are proud to have a pan-European cooperation agreed with such a renowned and knowledgeable partner as Philips Lighting, underlining SEEF’s strong value proposition for international energy service companies,” said Alexander Hunzinger, Managing Director at SUSI Partners AG. 

 

A first portfolio of projects has already been implemented through the facility, which is expected to be fully deployed by the end of 2018. 

For further information, please contact:

Philips Lighting Corporate Communications

Elco van Groningen

Tel: + 31 6 1086 5519

E-mail: elco.van.groningen@signify.com

 

SUSI Partners Media Relations:

Robin Poëll 

Tel: +41 44 386 98 39

E-mail: r.poell@susi-partners.ch

About Philips Lighting

Philips Lighting (Euronext: LIGHT), the world leader in lighting products, systems and services, delivers innovations that unlock business value, providing rich user experiences that help improve lives. Serving professional and consumer markets, we lead the industry in leveraging the Internet of Things to transform homes, buildings and urban spaces. With 2017 sales of EUR 7.0 billion, we have approximately 32,000 employees in over 70 countries. News from Philips Lighting is located at the Newsroom, Twitter and LinkedIn. Information for investors can be found on the Investor Relations page. 

About SUSI Partners AG & SEEF

SUSI Partners AG is a Swiss Investment Manager that focuses on financing the energy transition and sustainable energy infrastructure. SUSI supports institutional investors with investments in solar and wind parks, energy efficiency retrofits of existing infrastructure and grid-scale energy storage solutions. SUSI offers fund solutions that yield stable and low-correlated annual distributions, carry low risk and produce a measurable impact on climate change mitigation. Currently deploying 200 million euros, SEEF is the leading independent investment vehicle financing energy efficiency projects across Europe. Find more information on SUSI Partners’ activities financing the energy transition on our Website as well as our LinkedIn and Facebook channels.

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