ecoligo Launches New Project in Kenya on Crowd-funding Platform
Sunday, August 6, 2017  Printer Friendly Email this article

ecoligo has launched a new project on its crowd-funding platform, shortly after installation began on the startup’s first two crowd-financed solar system projects. The financing volume is €144,000.

The latest project will finance two systems for Bondet Farm, a flower farm in Nanyuki, at the base of Mount Kenya. This will provide a total capacity of 118.9 kWp of solar electricity to the farm, which is part of the Kariki Group. Kariki Group employs over 1,300 people and is a member of Kenya Flower Council (KFC). It is KFC silver and GLOBALG.A.P. certified and is currently in the process of becoming MPS and Fairtrade certified.

After completion, the solar systems will supply the majority of Bondet Farm’s daytime electricity and at peak times will provide 100% of the farm’s required power.

Investors into the project will receive 5.0% interest over five years and can invest from 500. They will receive an early-bird bonus of 0.5% if they invest in the first 10 days.

In a similar format to that of ecoligo’s first project, Ariya Leasing will receive the investment in the form of a loan and will manage the project. Ariya Leasing, ecoligo’s partner in Kenya, is a wholly owned subsidiary of Ariya Capital Ltd., a project developer and investor into renewable energy solutions.

“We are committed to providing businesses with access to clean, affordable solar power, particularly in the agricultural sector. By providing electricity for our customers through cost-effective leasing models, we can effectively reach this goal. We are very pleased with the success of the Penta Flowers project and are happy to work with ecoligo again.” Dr. Herta von Stiegel, Executive Chair

ecoligo raised a total of 260,000 in April this year to supply Penta Flowers farm with a total of 198 kWp of solar electricity. Sustainable Power Systems Ltd., an installation company working in cooperation with Ariya Leasing and ecoligo, began the installation of the solar systems in July. The project is expected to start generating electricity in August.  

“We are very pleased with the progress of the Penta Flowers project, which is also a testament to the professionalism of Ariya Leasing. We look forward to seeing many more projects implemented through this partnership. Bondet Farm of Kariki Group is the next step in this.”Markus Schwaninger, CFO

 Image source: US SEC

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