This archive report was first published on 23 July 2019.
July 23, 2019 - Berlin-based ecoligo, a solar crowdfunding platform founded in 2016, has secured EUR 2.5 million in funding from Saxovent, an investor specializing in ecological investments.
The funding will enable ecoligo to scale up operations and enter new markets, building on its existing presence in East and West Africa, Central America, and Southeast Asia.
Since its inception, ecoligo has implemented more than 20 solar projects, providing a unique Solar-as-a-Service solution to commercial and industrial businesses.
According to Saxovent COO, Matthias Kittler, “because everyone involved benefits financially from the solution: the local companies who reduce their electricity costs, the local service providers through the installation and maintenance of the solar systems and the crowd investors in Germany, who receive an attractive interest rate. Last but not least, the climate benefits from the replacement of fossil fuels by solar energy”.
Saxovent, a highly experienced renewable energy project developer, has built over 385 wind turbines since 1997 and is the sole investor in the current growth financing round.
With this new funding, ecoligo aims to expand its presence in key markets, including Ghana, Kenya, and Costa Rica, and open new locations in Southeast Asia.
