23 November 2017, Berlin/Wesel – ecoligo and SOVENTIX announce their new partnership to finance solar projects for commercial and industrial companies in Chile, South Africa and the Dominican Republic. Soventix, a leading global solar developer with extensive experience in these markets will provide for engineering, procurement and construction services of these projects. ecoligo will support Soventix in raising capital for the realisation of the projects on the German crowdinvesting platform ecoligo.investments.
“Our new partnership will solve the problem of financing solar projects in these emerging countries, which have large potential in solar energy. By partnering with a company that has extensive experience in these regions, we are offering new opportunities to our investors while remaining focused on delivering our own projects in West and East Africa.” says Martin Baart, CEO of ecoligo GmbH.
Projects financed and developed through the partnership will provide access to affordable solar power to commercial and industrial companies. While high electricity costs are common for these companies, access to finance for alternative energy sources is limited.
“We see a high demand in Chile, South Africa and the Dominican Republic for solar solutions and installations and for the services offered by Soventix. However, the lack of suitable longterm funding limits the ability of local companies to realize solar projects. In cooperation with ecoligo we offer these companies not only technical solutions for the solar systems but also a financing opportunity to realize the project.” says Zsolt Balogh, Head of Project Finance at Soventix.
Soventix has already realised more than 4,000 solar projects worldwide. The company develops, builds and operates high-yield solar parks, including hybrid systems and on-grid solutions. These include the planning, development, financing, implementation and project management as well as the operation & maintenance for their own solar systems.
The first project under the collaboration will be a 95 kWp solar system of a local vineyard in central Chile. The vineyard is owned by Cono Sur, a producer of high quality wines and a premier exporter to countries in Europe, including Germany. Cono Sur is not only committed to sustainable and environmental friendly production but also to the use of innovative technology to improve the efficiency of its operations.
Earlier this year, ecoligo has successfully introduced the crowdinvesting platform ecoligo.investments to the market with investment opportunities into three solar projects in Kenya. All three projects were fully funded within 10 days on average, with the fastest financed in just 6 days. These projects supply affordable electricity to flower farms in Kenya that are impacted by high electricity costs. Ariya Leasing is the owner and operator of these projects.
While expanding its project financing options to new regions through partnership with experienced developers such as Soventix, ecoligo will continue to focus on developing its own projects in West and East Africa where the company has extensive on-the-ground experience.