75 kWp solar energy
Two systems for Rift Valley Roses will be financed and they will provide a total capacity of 75 kWp of solar electricity to the farm. The systems will be installed by local solar company Harmonic Systems and the solar power generated will be used for water pumps, cold stores and office buildings. The project will be carried out in two phases. The first phase has a capacity of 50 kWp and will be built on the existing packing hall. The second phase will increase capacity by 25 kWp and will be installed on a new packing hall built around an expansion of the flower farm.
50 percent of the electricity demand
Based on historical consumption figures, Rift Valley Roses can cover more than 50% of the electricity demand from solar energy with this system. "At night or on cloudy days when not enough solar energy is produced, the flower farm continues to draw electricity from the mains", was stated on the website of ecoligo.investments. In addition, an average of 68.18 tonnes of CO2 can be saved each year.
Investors
The finance volume is 94,000 Euro and will be raised through the ecoligo.investments crowdinvesting platform. In this way, they close the finance gap that prevents these projects from being realised. Investors into this project will receive 5.5% interest over 8 years and can invest from 500 Euros.
Third solar project for Kenyan farm
Rift Valley Roses is the third solar project for a flower farm in Kenya to be financed on ecoligo.investments. "This shows us that this industry is a pioneer in the use of renewable energy in East Africa. This trend is great news and makes these farms more sustainable both economically and environmentally, which is also appreciated by the international rose buyers. We look forward to the implementation of this project and that this trend is accelerated by the crowd", says Markus Schwaninger, CFO of ecoligo GmbH.
ecoligo
ecoligo was founded in 2016 by Martin Baart and Markus Schwaninger, whose extensive experience in the markets demonstrated the clear need for renewable energy finance. By financing the solar system through crowdinvesting, the company closes the finance gap that prevents these projects from being realized.
ecoligo’s founders are both certified experts in renewable energy finance and the company is supported by Allianz Climate Solutions as a technical advisor in the assessment of the solar projects. The Rift Valley Roses project opened to private investors on June 20, 2018. More information here (in German).
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