Joule Assets, the US-based energy efficiency private equity firm, has extended its asset finance across Europe and appointed Jessica Stromback as general manager and senior vice president to lead the operation.
The firm has previously offered investments in the Netherlands, Finland and Belgium.
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Joule Assets provides asset financing for energy efficiency and electricity supply infrastructure. Its Joule Energy Reduction Asset (ERA) Fund, a global private equity fund targeting $100m (77.78m), provides alternative asset financing to energy efficiency vendors and receives returns from monetized energy savings and vendor revenues back to its private equity fund investors.
The firm said it would target financing opportunities where European countries move from coal and nuclear power to renewables, targeting smaller projects below $1m for its financing to enable small-to-mid-ticket contractors to access capital.
"Joule has demonstrated leadership in the U.S. by offering attractive financing and partnership solutions to contractors, and we will similarly transform the European markets," said Stromback.
"Our innovative financing solutions enable additional cash flows, providing additional value and significantly increasing the number of completed projects."
