November 21 (Renewables Now) - A fund managed by SUSI Partners AG has signed a financing facility with Toronto-based energy storage company NRStor Inc that covers CAD 120 million (USD 94m/EUR 80m) worth of projects in Canada.
The SUSI Energy Storage Fund (SESF) has inked the deal on November 17 with NRStor C&I LP, which looks to realise more than 300 MW of behind-the-meter energy storage projects for Commercial and Industrial (C&I) customers.
The facility finances projects capable of revenue stacking and delivering several cash flow streams to C&I customers, according to the announcement. The projects use lithium-ion technology.
The Swiss investment manager claims that SESF is the world’s first dedicated energy storage fund. It invests across all proven storage technologies and business models, preferably in OECD countries. The fund has a target size of EUR 250 million (USD 294m) and will be open for investors until early 2018.
(CAD 1.0 = USD 0.781/EUR 0.665)
(EUR 1.0 = USD 1.174)