Suma Capital and Quimera reducing energy expenses for leading hotel chains
Quimera Group and Suma Capital Group, through SC Energy Efficiency Fund, collaborating to expand operations in the energy efficiency field for hospitality sector.
As a result of this collaboration, the two companies have formed a new entity, Quimera ESCO, which represents an exceptional growth opportunity for both companies, in which Quimera brings its technical expertise and strong track record in the hospitality industry, and Suma Capital the financial capacity to perform operations.
Thus, Quimera ESCO will provide a turnkey solution for the international hospitality sector with technical and financial capacity to implement energy efficiency projects at worldwide level. This solution is based on an innovative business model developed by Quimera Energy (QE), the energy efficiency division of Quimera Group. It is specialised in monitoring-based commissioning (MBCx) service, based on the revenue-sharing scheme (No Savings – No Fee), where service fees come exclusively from reduced energy bills of hotel chains.
The first jointly closed operation with this innovative scheme is a global energy services contract for the iconic Hyatt London (Andaz Liverpool Street Hotel), where already more than 20% energy savings have been achieved within just the first months of the project implementation.
Through the new company, Suma Capital intends to support QE in its global expansion plan of assisting the global hotel chains that are already QE´s customers (currently QE works for Hyatt, Marriott, Shangri-La and Melia), with a particular focus on growing operations in the UK, Spain, Italy and Mexico, as well as the immediate expansion in the UAE, China, USA, Caribbean, Germany and Austria.
About Suma Capital: Suma Capital Energy Efficiency Fund is the first Spanish fund that supports energy efficiency initiatives. Through the leading technology partners it helps to finance projects that contribute to reduce emissions and promote sustainable technologies. This transaction represents Fund’s seventh investee, carrying out more than 40 projects in this area, saving over 15,000 tonnes of CO2 per year.
About Quimera Group: Quimera Group is an international company that provides its customers with solutions in the field of energy and sustainable mobility. Its energy division, Quimera Energy, adopts monitoring-based commissioning approach, aimed at reducing the use of energy resources, minimizing emissions and carbon footprint.