Share
200.000 €
100% funded by 928 investors
instalment
quarterly
term
3 years
a year
7%
rating
B-
Recap is a Swedish organisation with over 10 years of experience in renewable energy and energy efficiency projects.
This campaign is part of series of campaigns aimed at refinancing 17 solar energy projects in Colombia, across Cundinamarca, Atlántico, Antioquia, and Santander, in a total investment of two million euros. The projects are at different implementation stages, with some centrals installed already (more information on the table below). Some of the projects were built with Recap’s own equity and Swedish family office Gullspång Invest.
This is the eighth campaign promoted by Recap Energy with GoParity, after launching one campaign to fund two solar power plants in Brazil (our first international project), another to refinance two solar power plants for self-consumption in Colombia, and Decarbonizing Colombia I, II, III, IV and V as part of this portfolio of two million euros.
The two million euros to be raised through these campaigns will be used to refinance the following solar energy projects:
Company
|
Location
|
Description
|
Installed capacity
|
Yearly generation
|
Term
|
Tenjo
|
Colombian traditional restaurant |
19,22 |
23,43 |
7 |
|
Gachancipá
|
Flower producer |
12,62 |
32,33 |
7 |
|
Bogotá- Cundinamarca |
Manufacturer of motor vehicles
|
319,68 |
442,89 |
8 |
|
Bogotá- Cundinamarca |
School |
60,75 |
91,61 |
15 |
|
Sotaquirá
|
Artisanal cheese producer |
24 |
36,18 |
18 |
|
Ladrillera
|
Tunja
|
Manufacturer of block, bricks
|
129,56 |
167,13 |
8 |
Bogotá- Cundinamarca |
Hotel |
163,2 |
219,61 |
8 |
|
Medellín (Antioquia) |
Logistics and transport |
243,8 |
341,42 |
8 |
|
Barranquilla (Atlántico) |
Metallurgy products manufacturer |
99,98 |
168,4 |
20 |
|
Barranquilla (Atlántico) |
Textile manufacturer |
185,1 |
0,31 |
20 |
|
Medellín (Antioquia) |
School |
27,9 |
43,08 |
20 |
|
Barranquilla (Atlántico) |
Manufacturer of health, pharmaceutical
|
141,94 |
242,18 |
20 |
|
Barranquilla (Atlántico) |
Construction company |
436,16 |
706,1 |
20 |
|
Bogotá- Cundinamarca |
Business management |
292,34 |
419 |
20 |
|
Barranquilla (Atlántico) |
Manufacturer of vinyl fabrics |
678,68 |
1116,9 |
20 |
|
Medellín (Antioquia) |
Producer of animal feeds |
99,64 |
151,1 |
20 |
|
Barranquilla (Atlántico) |
Shopping center |
320,4 |
448,92 |
20 |
So far, the promoter has raised 725.000€. The goal is to raise the remaining amount over the next months.
This campaign is one of several to fund the installation of photovoltaic plants in 17 organizations in Colombia.
Direct environmental impact
Indirect Impact
CO2 avoided per year
MWh clean energy
The funds raised with these campaigns will be used to refinance 17 solar energy projects. The capital that Recap has invested will be used for further expansion in the Colombian market.
Long term PPA (power purchase agreement) contracts will be signed between the promoter (Recap Solar Fund AB II) and the end clients (identified in the table above).
The solar panels Installation, operation, and management will be performed by local partners under Recap’s supervision. The promoter will also be the owner of the solar panels, as well as the energy producer and trader.
A PPA is a long-term agreement, for the purchase and sale of clean energy established between a renewable energy producer (in this case Recap Solar Fund AB II) and the entity that consumes electricity (in this example, the companies identified in the table above). The companies will therefore reduce their consumption of energy from the national electricity grid substituting it for the energy from the solar systems.
In turn, Recap Solar Fund II AB will sell the energy from 5% to 30% lower than the client’s retail price, depending on the specifics of each project, after the installation of the panels. After an established period, the panels will become the property of the clients. In exchange for the benefits provided by the solar PV system, the client pays Recap Solar Fund II AB a monthly fee throughout the contract term.
The fee is based on the prices charged by the local utility, over which the client is granted a fixed discount. In this sense, the client will always have a benefit from using the energy from the PV system. The energy that cannot be supplied by the PV system is bought from the grid.
The fees paid by the client allow Recap to pay back its investors and covers the operations required for the development and management of the project.
The promoter performs a credit analysis, recurring to Coface to all its end clients before installing the panels.
Download Key Investment Information Sheet
• Pledge agreement on ReCap Solar Fund II AB shares.
• Pledge agreement on the shares of ReCap Solar Colombia SAS
• Pledge agreement on the credit rights receivable arising from the savings sharing agreement, which will belong to ReCap Solar Colombia SAS
The Recap Solar Fund II AB is part of the Recap Energy, an organization with the mission to bridge the gap between institutional capital and profitable clean energy projects globally, contributing to a more sustainable future
Recap was founded in 2010, initially as a consulting firm for sustainable finance. Since then, the company has evolved and started to offer Energy as a Service (EaaS) solutions to C&I clients in 2016.
With a technical team in Tenerife, Recap started the deployment of its EaaS business in Spain, initially focused on the Canary Islands, but soon after also mainland Spain and Portugal.
The expansion did not stop there, as Recap created the Colombian and Nordic (2018), Brazilian (2019), and Indian (2020) subsidiaries offering similar EaaS solutions.
Recap is constantly expanding geographically, in new and established markets, but also broadening the scope of energy and storage technologies and financial options to its clients.
At the moment, Recap has three women among its shareholders and one woman sitting on the company’s board.
Currently, the total developed capacity by region is:
Currently, Recap has 118 clients in Spain, Portugal, Sweden, India, and Latin America. The rooftop project sizes range from 10 kWp to 5MWp.
The Recap Energy provides customized energy solutions for its clients, which can include electric mobility, energy storage, and energy management systems.
Recap employees 51 people, nine are working in Colombia.
Recap’s business model is based on sharing the benefits of PV plants with C&I clients. Without any need for investment from the end client, Recap owns, installs, and maintains the solar PV plants. In exchange, the client benefits from clean energy at prices always be lower than that of the local utility. The fees paid by the client cover the investments, operational costs, and provide high and stable returns to investors.
The business model was first successfully implemented in Spain. The Recap Solar Fund II AB was created to serve the Colombian market soon after.
At the moment, Recap Solar Fund II AB has 21 clients in Colombia.
Active since
2018
Fiscal country
SE
Operating In
Brazil, Colombia and Spain
Industry
Renewable energy
Number of Goparity Loans
11
Women Shareholders
Yes
Website
https://www.recap.se/2022-04-21
First instalment was paid to all the investors
2022-01-13
906 investors successfully raised 200.000€
2022-01-10
2022-01-03
This campaign will help avoid the emission of 169 tons of CO2 per year