Accra, Berlin and Frankfurt am Main, 26th June 2018: crowdinvesting platform www.ecoligo.investments has successfully raised 50,000€ to finance three solar power systems for Stanbic Bank in Ghana. The campaign was backed by 42 private investors. Installation is almost completed for the three systems, which have a combined capacity of 40 kWp and were being refinanced by the crowd.
Investors will receive 5.75% interest on their investments over the loan period of 12 years. The project is implemented by ecoligo GmbH in Ghana and is part of the dena Renewable Energy Solutions Programme.
“Working with a major client such as Stanbic Bank Ghana gives confidence to the crowdinvestors as well as providing an example for other businesses in Ghana to move to renewable energy. The energy transition in the region is still at an early stage: by enabling access to clean power for the commercial and industrial sector, projects like this can accelerate progress and pave the way for a more sustainable economy.” – Martin Baart, CEO of ecoligo GmbH
The solar systems have been placed at Stanbic Bank’s Dansoman, Kasoa and Tema branches in Accra and Tema, with capacities of 20, 10 and 10 kWp respectively. This provides each branch with electricity from a zero-carbon source, helping the bank to operate more sustainably. The bank is one of the largest in Ghana and employs over 1,600 people at 39 branches. The current project represents the first phase of a larger initiative on green technology, in which ecoligo and Stanbic Bank work together to provide solar systems for other branches and offices of Stanbic.
Crowdinvesting has seen high growth rates in recent years, with the trend set to continue. Raising money for solar energy projects in emerging markets bridges the finance gap that currently prevents the realisation of such projects and also delivers savings that are directly passed onto energy consumers. Flexibility and transparency make the financing instrument particular suitable for projects in developing markets, such as those managed by ecoligo.
ecoligo provides a fully financed solar-as-a-service solution for businesses in emerging markets. With a complete digital platform for financing and delivering solar projects, ecoligo removes the barriers that prevent such projects from being realised. Supplying these businesses with affordable electricity enables them to grow and boost the local economy. Find out more at ecoligo.com.
This project is part of the worldwide dena Renewable Energy Solutions Programme coordinated by the Deutsche Energie-Agentur (dena) – the German Energy Agency – and supported by the German Federal Ministry for Economic Affairs and Energy (BMWi) within the German Energy Solutions Initiative.
German Energy Agency (dena)
dena is Germany’s centre of expertise for energy efficiency, renewable energy sources and intelligent energy systems. As Agency for Applied Energy Transition dena helps achieve energy and climate policy objectives by developing solutions and putting them into practice, both nationally and internationally. In order to do this, dena brings partners from politics and business together, across sectors. dena’s shareholders are the Federal Republic of Germany and the KfW Group. https://www.dena.de/en
German Energy Solutions Initiative
The transfer of energy expertise, the promotion of foreign trade and the facilitation of international development cooperation are part of the German Energy Solutions Initiative, which is coordinated and financed by the German Federal Ministry for Economic Affairs and Energy. The initiative offers networking and business opportunities in Germany and abroad, it showcases reference projects and facilitates capacity building. www.german-energy-solutions.de/en
dena Renewable Energy Solutions Programme (dena RES Programme)
The dena RES Programme was developed by the Deutsche Energie-Agentur (dena) – the German Energy Agency. This programme, supported by the Federal Ministry for Economic Affairs and Energy within the German Energy Solutions Initiative, helps German renewable energy companies enter new markets. Within the framework of the programme, reference and demonstration projects are installed in cooperation with prestigious institutions. The installation is accompanied by comprehensive PR, marketing and training programmes. These projects showcase high-quality German renewable energy technology and help participating companies gain a foothold in new markets. www.german-energy-solutions.de/en/res