Berlin, 30 November 2020: The German company ecoligo, provider of a Solar-as-a-Service solution for companies in emerging countries, has purchased the retail rooftop solar business of RWE in Thailand. This is already the second step into a new Southeast Asian market in 2020, with which the Berlin-based company is continuing its successful growth course. Using the ecoligo.investments platform, the Berlin-based company develops and finances solar projects via crowdinvestments, thus enabling companies from emerging countries to gain easy and flexible access to renewable energy without high entry costs.
Thailand as an emerging market with increasing electricity demand
Thailand has been experiencing high economic growth for years, which goes hand in hand with an increasing demand for electricity. So far, renewable energies only represent a share of 10 percent, most of which is based on hydropower generation. In 2018, the Thai government has decided in a revised version of the Power Development Plan to significantly increase the use of renewable energies in order to reduce greenhouse gas emissions.
Solar project to save almost 600 tons of CO2 per year
For the first solar project in the Southeast Asian country, ecoligo acquired the Thai retail rooftop business of RWE. The business consists of a PV solar system and is now being refinanced by ecoligo.investments with rates of 6.00 percent p.a. The system is installed on the roof of Xcellent’s factory in Chon Buri, southern Thailand, where around 500 people are employed. The system not only avoids 591 tons of CO2 emissions per year, but also lowers Xcellent’s energy costs.
Sustainable investment opportunity in emerging market
Through the crowd investing platform ecoligo.investments, private investors from Germany now have the opportunity to participate in the financing of the solar plant in Chon Buri, to profit from fixed attractive returns within the project and to support the expansion of renewable energies in Thailand. Investments already start at 100 Euro and will be accompanied in a tangible and transparent way throughout the entire implementation period. The platform thus offers the option of smaller individual investments within a financing that is distributed among many investors and a completely digital investment process.
Expansion of ecoligo’s presence in South East Asia
The market entry in Thailand is already the second step into a new Southeast Asian market of ecoligo this year. In early 2020, the company announced its market entry in Vietnam, where it presented its fully financed Solar-as-a-Service solution and has since implemented 3.5 MW of capacity. By acquiring SEA Rooftop Solar Co, Ltd. from RWE, ecoligo aims to expand its presence in Southeast Asia, where strong economic growth and a sunny climate provide perfect conditions for the introduction of affordable solar energy solutions.
ecoligo CEO Martin Baart said:
“The entry into another southeast Asian market this year is a huge milestone for ecoligo and we look forward to becoming an integral player in Thailand’s transition to a more sustainable economy. By purchasing an existing system, we can offer crowdinvestors the opportunity to invest in a new market with the security of a project that is already installed and producing energy.”
About ecoligo GmbH
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 realized. Supplying businesses with affordable electricity enables them to grow and boost the local economy. Find out more at ecoligo.com.