ecoligo wins the Georg Salvamoser Prize
ecoligo has won the Georg Salvamoser Award for its pioneering approach to accelerating the energy transition in the global South. At the Intersolar trade fair in Munich on Thursday, the solar company was awarded the prize, which comes with 10,000 euros in prize money. The prize is one of the latest successes of the Berlin-based start-up, which offers a fully financed Solar-as-a-Service solution for companies in developing and emerging countries.
The prize is dedicated to the Freiburg solar pioneer Georg Salvamoser (1950 -2009), who campaigned throughout his life for a one hundred percent supply from renewable energies and, among other things, founded the Freiburg Solar Factory.
In addition to the Georg Salvamoser Award, ecoligo has already been awarded the German Entrepreneur Award for Development in February this year due to its impact-oriented business model. The award recognises ecoligo’s commitment to local economic development and its contribution to the Sustainable Development Goals (SDGs).
ecoligo is currently active in Ghana, Kenya and Costa Rica with its Solar-as-a-Service approach and is driving the energy transition in these countries. Last Thursday, the company inaugurated a 75 kWp solar plant for Rift Valley Roses in Naivasha, a region known for its flower farms. Solar panels are very suitable for meeting the high energy needs of flower farms and are becoming increasingly popular in the industry. Nearly 40 participants from Kenya’s agribusiness and energy sectors attended the event.
Rift Valley Roses is one of five flower farms benefiting from solar projects financed through ecoligo. This was initiated by ecoligo to close the financing gap that has so far prevented the transition to renewable energy in developing and emerging countries. The platform celebrated an important milestone last week when the launch of the 20th solar project brought the platform’s total crowdfunding volume to over €2 million. The amount was raised by 627 private investors, who can invest on the platform from 100 EUR and receive an annual return of 5-6%. The investments also save CO2 emissions and support the local economy.
“Georg Salvamoser was not only a pioneer in solar energy, but also in alternative financing: he financed the Freiburg solar factory back in 1996 with the help of 110 private individuals, without banks or subsidies. He thus demonstrated the innovative power of crowdfunding back then, long before crowdfunding became the flourishing digital market it is today. We are honoured to receive this award and continue Mr Salvamoser’s legacy.”Markus Schwaninger, CFO at ecoligo
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