On December 19th, Suma Capital finalised the fourth investment of its new SC Efficiency & Environment Fund II, providing finance for a biomass-fed heat network, for the supply of heating and hot water of renewable origin to the city of Guadalajara.
The total investment amounts to 30 million Euros, of which up to 10 million Euros will be contributed by the fund. The project will supply some 6,000 homes, in addition to public and commercial buildings. The maximum expected consumption is 100GWh per year, utilising 25,000 tons of wood chip per year from forest clearance.
The environmental impact of reducing emissions will be up to 40,000 tons of CO2 per year and the maintenance and supply of the infrastructure will result in the creation of 60 direct and indirect jobs.
The project is currently under construction and it is expected that the company that is developing it (Centrales de Calor con Biomasa de Castilla La Mancha), will start providing customers with a service from the next heating season 2019.
This investment has been made by Suma Capital together with REBI (Recursos de la Biomasa, S.L.), the project’s builder and developer. REBI is the promoter and operator of other projects in which Suma Capital has invested through its SCEEF I and SCEEF II funds, such as the Soria Heat Network and the Aranda de Duero Heat Network. With this new investment, REBI will expand its trajectory as promoter and manager of biomass heat networks and be consolidated as Suma’s strategic partner for projects of this type.
With this investment Suma Capital reaffirms its commitment to heat networks, sustainable infrastructures that provide an efficient and renewable energy supply, and that contribute to the improvement of the environment and the local economy.