Our German start-up ecoligo has launched a new crowd-investment platform for solar projects in emerging markets. The platform opened to investors yesterday with the opportunity to back a 66 kWp solar installation for a flower farm in Thika, Kenya.
ecoligo is targeting a total investment of €107,000 that will fund the first of two solar systems on the Fairtrade and MPS-certified farm. Together, the systems will save 184 tonnes of CO2 emissions a year.
The investment will be provided in the form of a loan to ecoligo’s partner in Kenya, Ariya Leasing, who will manage the project. Once built, the farm will be able to receive solar energy at a lower cost than from the national grid. As Ariya will repay the loan in Euros, the project holds no currency risk. The crowd investors will be repaid over 5 years at an interest rate of 5% p.a. and can invest from €500 onwards.
Founded in 2016, ecoligo harnesses the increasing popularity of alternative finance to work with commercial and industrial customers in developing countries who are currently exposed to costly, fossil fuel-based sources of electricity.
The company’s vision is to accelerate the global use of zero CO2 solutions to secure a sustainable energy future. By providing attractive investment opportunities to private investors while making clean, affordable energy supplies accessible for electricity consumers, ecoligo is enabling citizen participation in the global Energiewende in a way that makes economic sense to both investors and energy consumers.
ecoligo CEO, Martin Baart, commented: “The high cost of power in Kenya not only threatens local businesses, but has also been linked to restricting the economic growth of the country. While solar solutions are both technically and financially attractive, suitable financing is unavailable. ecoligo overcomes this problem and at the same time provides sustainable investment opportunities to its crowd.”
ecoligo was founded by Martin Baart and Markus Schwaninger after the two met at a solar conference in Kenya. Since last year, the start-up has been supported on the InnoEnergy Highway®. For Jens Ortgiese, Business Creation Officer in Germany, ecoligo is exactly the kind of start-up that InnoEnergy is looking for to support: “Investments on the ecoligo platform not only provide attractive returns, but save CO2 and support the local economy. Their business model has a high potential and contributes to our goals of increasing the security of supply and reducing CO2 emissions in a remarkable way.” Since InnoEnergy strongly believes in the way this promising concept is being implemented by ecoligo, we invested additional capital together with a group of business angels from the industry to complement the Highway® support.
The new solar project is now open to private investors from Germany. Find out more at ecoligo.com.