London, UK (May 19, 2020) — Today sees the launch of Susgen, a capital provider and partner to industry-leading renewable energy developers.
Susgen invests in renewable energy development companies, enabling them to create project portfolios of significant scale. As capital provider to developers globally; such as Urban Grid Solar in the USA, JBM Solar and Alcemi in Europe, the company has delivered in excess of 1,000 MW in clean power and has over 10,000 MW under development with an aim to reach 30,000 MW in three years.
CEO of Susgen, Mark Jones, says: “We are a funder and enabler of renewable energy projects. We embrace innovation and all technologies across the renewable energy sector. We respond to policy stimulus and seek out opportunity to fund and work with developers on building utility-scale renewable power businesses. With both governments and corporates worldwide committing to net zero targets, Susgen is in a growing and vibrant market with significant opportunity.”
Committed to growth
With solar production records set in the UK, Germany and Spain during March and April this year, according to data and software architects Solargis, the European solar market is set to break further records in 2020. “We are looking forward to working with partners globally on the next phase of renewable power plants.” Says Jones.
Net zero targets still need to be worked towards and delivered. Seventy-three countries worldwide* have already committed to net zero policies and some major companies such as Shell** and Barclays*** have done so during the Covid-19 lockdown. “We are in a period of uncertainty, but climate change will not stop and wait for us, it requires continuing action with conviction. Susgen invests in companies and builds partnerships that can deliver net zero.” Jones adds.
The onset of Covid-19 has seen decreases in power demand across the world. “Despite this, the sun continues to shine, the wind continues to blow and renewable power continues to generate energy. Renewable energy projects continue to provide yield for their investors and we see most utility stocks and specialist renewable energy funds outperforming the market, showing that the sector is resilient in a downturn.” Says Jones.
He concludes; “this is a difficult time for many with humanitarian and economic hardship being felt right across society. The climate challenges we face remain. Susgen is here to work with partners to proactively address these challenges. We fund developments and projects to secure sustainability for future generations. And it is vital that our commitment to delivering renewable energy does not waiver during difficult times.”
Susgen’s current development partners include Urban Grid in the USA, who have a 7,500 MW pipeline in development, JBM Solar, who have a substantial UK pipeline and have recently secured planning consent for a 50MW solar farm at Scurf Dyke, in Yorkshire and Susgen has closed a significant funding line for Alcemi to develop storage projects across the UK.