Resort in Philippines taps crowdfunding to go solar
The Cauayan Resort on the island of Palawan in the Philippines is seeking EUR 500,000 (USD 588,500) in a crowdfunding campaign with GreenVesting Solutions GmbH to finance the installation of solar panels and a…
From the Energy Metal News archive. This article dates from May 21, 2018 and is preserved as first published.
The Cauayan Resort on the island of Palawan in the Philippines is seeking EUR 500,000 (USD 588,500) in a crowdfunding campaign with GreenVesting Solutions GmbH to finance the installation of solar panels and a battery.
The project of Enervinci Philippines Inc includes a 173-kWp solar array and a lithium-ion (Li-Ion) battery by Samsung, with a nominal capacity of 499 kWh. These will work alongside a new diesel generator to ensure round-the-clock power supply and help the resort reduce its carbon dioxide (CO2) emissions.
The project of Enervinci Philippines Inc includes a 173-kWp solar array and a lithium-ion (Li-Ion) battery by Samsung, with a nominal capacity of 499 kWh.
GreenVesting’s website says investors can expect a return of 6% per year over a term of eight years, starting from October 2019. The solar-plus-storage facility is being co-financed by ecoligo GmbH.
German-Filipino firm CEnAG Solar Inc is the general contract for the project, while Berlin-based energy storage systems firm Autarsys is the battery supplier. Construction of the facility will start once the needed financing has been raised. GreenVesting’s website shows 12% of the targeted sum is in place already.
