Our start-up ecoligo, which is a digital platform for financing and delivering solar projects, has launched a new crowdfunding round to support a project in the Philippines.
16 million people live off the grid in the Philippines, including the eco resort Qi Palawan. Currently they are using diesel powered generators for electricity, a source that is often unreliable. In October 2016 the eco resort received, with the help of shareholders, a photovoltaic system and an energy storage system. The renewable hybrid system saves the resort at least 12,500 litres of diesel and 33 tonnes of CO2 emissions per year. At night and during peak times the energy is secured due to the intelligent energy storage system.
Bettina Rodarte, the managing director of the resort is happy with the successfully installed system. She said: “I don’t have to worry about fluctuation in diesel. I know I’m doing the right thing for the environment. My old generators where not reliable and now I have a first-class system with double redundancy that just works perfectly automatically and I don’t have to worry about whether my generators are turned off.”
The project is owned and operated by Enervinci Philippines Inc., which was founded as a German-Philippine operator company. Its shareholders have pre-financed the Qi Palawan project. After successful completion of the optimization and testing phase, continuous operation has been started since October 2016 and refinancing has been decided. The investors have the possibility to invest into a solar-plus-storage system which has a solar capacity of 42 kWp and help with the refinancing of the system. With a minimum investment of €500 and total investment of €101.000 investors receive 6% p.a. interest over 6 years.
This is the first solar-plus-storage project to be financed on ecoligo.investments. It is also the first project in the Philippines, representing a move into a new market for the crowdinvesting platform.
Find out more on https://ecoligo.investments/