TPG Special Situations Partners (TSSP), the credit platform of TPG, a global private investment firm, and SMi-Enerpro, a division of The SM Group Inc. and energy efficiency provider, have announced the launch of a new joint venture to maximize the existing SMi-Enerpro platform. The new venture will make SMi-Enerpro’s unique Technology Suite, which enables real estate owners to reduce energy consumption and achieve significant cost savings, available on a fully financed turnkey basis.
TSSP will provide the capital to finance energy efficiency projects that will bring SMi-Enerpro energy optimization solutions to a larger market globally including commercial real estate, cruise ships and data centers. Backed by 20 years of research, analysis and testing, SMi-Enerpro retrofits buildings in North America and Europe and puts its proprietary energy management system in place, delivering average energy and cost savings of 40 percent per project.
“Our customized energy solutions deliver substantial energy savings, reducing operating costs as well as greenhouse gas emissions, and leaving our clients with smart, more profitable buildings,” said Bernard Poulin of The SM Group Inc. “TSSP brings capital as well as operational expertise to our joint venture, and we look forward to working with them to grow our business.”
Michael Feldman of TSSP said: “Through well-designed energy efficiency projects and their unique toolkit, SMi-Enerpro has brought significant savings to commercial building owners for more than 20 years. We are very pleased to partner with this talented team to provide the upfront capital that will allow more building owners to reduce costs while improving their carbon footprint.”
Buildings account for 40 percent of the world’s energy use and 40 percent of carbon dioxide output, and they also consume one-fifth of available water. Achievable energy savings in the world’s existing buildings is estimated between 20 percent and 40 percent, which represents a major energy and carbon gas reduction opportunity.