Swiss investment firm SUSI has upped the ante on renewables energy investing.
The firm is planning a €1 billion ($1.1 billion) investment in commercial renewable energy infrastructure and offshore wind projects. The Global Energy Transition Fund will target 15 to 20 investments in OECD countries, reports Environmental Finance.
The size of the fund is a big jump for SUSI, which has about $1 billion in assets under management. It recently closed $70 million for an energy storage technology fund and $425 million for a renewable energy fund.
The offshore wind fund is SUSI’s first in the sector McKinsey recently called “the next big thing.” The cost of offshore wind energy production is expected to drop 70 percent from 2010 levels in the next three years.
Improvements in technology will play a big part, but so will the cost of capital, which is falling as investment flows increase.
