Berlin-based ecoligo, a crowdfunding startup for solar projects in emerging markets, has opened to investors today with an offer to back a 66 kWp solar installation for a flower farm in Thika, Kenya. ecoligo is seeking a total investment of €107,000 that will fund the first of two solar systems on the Fairtrade and MPS-certified farm. ecoligo says the systems will save 184 tons of CO2 emissions a year.
The crowdfunded security will be in the form of a loan to ecoligo’s partner in Kenya, Ariya Leasing, who will manage the project. The loan is in Euros and investors are expected to be repaid over 5-yearar term at an interest rate of 5% per year. Investors may participate for as little as £500. The new solar project will be open to private investors from Germany beginning April 3, 2017
ecoligo CEO, Martin Baart, explained that suitable financing was not otherwise available for the project in Kenya;
“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.”
In 2016, ecoligo was founded by Baart and Markus Schwaninger after the two met at a solar conference in Kenya. Baart and Schwaninger are said to represent over 20 years experience of solar project management and finance and are both certified experts in the field. The company’s vision is to accelerate the global use of zero CO2 solutions to secure a sustainable energy future. ecoligo was launched to enable citizen participation in a way that makes economic sense to both investors and energy consumers. Allianz Climate Solutions will support ecoligo as a technical advisor in the assessment of the solar projects.
Ariya Leasing Executive Chair, Dr. Herta von Stiegel, added;
“By financing and managing such projects, we remove the biggest barriers for businesses to receive low-cost solar power. As a result, they can focus on their core strategic priorities such as growth, employee welfare and positive environmental impact.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!