ecoligo celebrates signing of 5 MW of solar in a week, enters Chilean market

Aerial view of Santiago de Chile.

ecoligo celebrated a stream of successes last week with the signing of five solar projects with a total capacity of over 5MW. The news also marks the milestone of ecoligo’s entry into Chile with an off-grid project to provide reliable, carbon-neutral energy to a hotel. It’s a very positive sign: not only are businesses overcoming the crisis, but a sustainable economy is becoming reality as companies go green to stay competitive.

High demand for solar as businesses resume operations

After months of uncertainty caused by the Coronavirus pandemic, businesses in many countries are making progress again. Nevertheless, times are tough, and companies are looking for ways to keep costs down and stay ahead of the curve. This has prompted an increased interest in solar energy, as business leaders seek to lower energy costs and future-proof their businesses against unpredictable energy prices. In addition to the flurry of secured solar projects, we’ve also had an increase in requests: a great indicator for both the economy and the global energy transition.

Investors continue to seek sustainable opportunities

In the last months, we’ve launched some of our biggest projects on our website. Crowdinvestors continue to contribute to solar projects at a fast rate, cementing crowdinvesting as a great model for financing sustainable energy. The recently signed projects, which will power textiles, manufacturing and hospitality businesses in Chile, Costa Rica and Vietnam, will be opened to investors in the coming weeks.

Constructions at Dong Nam Viet Packaging.
Progress is fast at Dong Nam Viet Packaging, where a 1MW project is being installed.

A pivotal moment

Over the last 2 months COVID-19 brought the world to a halt. As air pollution cleared and global emissions plummeted, clearer skies showed us what we could achieve if we protect the environment. Today’s question is what the new normal will look like: at this pivotal moment, will we decide to switch to a green economy? Or will we continue to power our lives with polluting fossil fuels?

This last week has given us renewed confidence that the global community is willing and able to fight the climate crisis. Not only do we have the solutions, but those solutions are economically viable. Renewable energy is the best option for a business’ bottom line, making a rapid transition to clean power not only essential for our planet, but a key tool in overcoming global economic challenges.  

These successes are important to us, but even more significant indicators of a transformation can be seen around the world. In Vietnam, where three of the five secured projects are, solar is booming beside a thriving economy. Globally, the cost of solar energy has fallen further than predicted. In Europe, Amsterdam is embracing donut economics, while major cities are rethinking cars. We are on the right path to fight the next crisis; let’s keep this momentum and flatten the climate curve while we have the chance.