Description

This campaign aims to finance a photovoltaic plant for self-consumption at Santa Casa da Misericórdia de Alpedrinha.

The installation and operation of the solar panels will be done by the campaign promotor: Solcor Portugal, a company that specializes in the development and operation of solar photovoltaic installations. 

Santa Casa da Misericórdia de Alpedrinha (SCMA) is an IPSS (social solidarity private institution) founded in 1501 in Alpedrinha, Fundão in the Portuguese district of Castelo Branco. 

SCMA offers several social services to its community, focusing on children, the elderly, and people with disabilities. SCMA owns and manages an elderly home, a children's daycare center, and a social canteen.

Solcor's project involves installing 83 photovoltaic panels, amounting to a total power of 40.67 kWp.

This campaign offers a longer-than-average loan term for Goparity standards. This means you will receive your capital back and gain interest over a longer period of time. The rental agreement associated with the self-consumption photovoltaic installation foresees a low monthly payment by the beneficiary, who enjoys savings without initial financial investment to purchase the solar panels. Therefore, since the supply company’s payback period is longer, the payment plan is also extended (8-15 years). In this project, the beneficiary is a social solidarity private institution, and the supplying company is Solcor. Additionally, Solcor ensures the solar plant's operation throughout this period, allowing the social institution to maintain its focus on the community. Payments will be guaranteed in part by Solcor, a financially solid enterprise, and by the beneficiary. The savings generated by the solar plant for the beneficiary can be invested in social impact projects, where they make a difference. A solar panel can be used for about 30 years, making it a safe, profitable investment with relevant environmental impact. Impact investing in this type of project is a commitment to cleaner, safer, decentralized, and democratic energy systems.

The Impact

Direct

• Contributing to the decarbonization of the economy, by avoiding the emission of CO2: with an estimated clean energy production of over 57 MWh, the solar plant will help avoid the emission of 7.68 tonnes of CO2 per year, equivalent to planting 349 trees.
  
  Cost reduction for the final client: About 29% of the total electricity consumption will come directly from the local solar plant, resulting in a cost reduction of about 32% on an annual basis. The decrease of dependency on the electricity grid also protects from price fluctuations and fiscal charges.

Indirect

• Improvement of the organization's core services: the cost reduction in electricity expenses enables the Santa Casa da Misericórdia de Alpedrinha to improve their services for the community, specially the elderly home, the children's daycare center, and the social canteen.

Impact Indicators

7,68 t

CO2 avoided per year

57,3

MWh clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

The project is co-financed by Solcor Portugal, the guarantor of the loan.
The maturity of the loan was calculated to ensure that the monthly installments are paid by the revenue generated through the rental payments for the solar plant.

Download Key Investment Information Sheet

Guarantees

Pledge of equipment, pledge of receivables from the final client and pledge of Solcor Portugal.

The Promoter

About SOLCORELIOS II, UNIPESSOAL LDA

SOLCORACTION LDA, or Solcor Portugal, is part of Solcor Group, a group with Belgian roots, founded in 2014 and active in Portugal, Chile, and Colombia. The group is committed to developing commercial solar plants and financing these projects. To date, they have over 400 projects concluded.

Solcor often relies on technical advice from the other companies in the group, strongly connected by sharing the same shareholders. Together they are active in basically every aspect of the solar photovoltaic market: 

• EMAT - a distributor of photovoltaic equipment.
• Nikola - a residential installer.
• Delta Activos - a dedicated solar maintenance company.

SOLCORELIOS II, UNIPESSOAL LDA is part of the Solcor Group (a daughter company of Solcor Portugal), created to develop solar projects for associations with community engagement.

Solcor has been active in Portugal since 2019. They have a talented team of 15 people with a track record of over 100 solar projects in Portugal, contributing to the company's experience in developing, operating, and financing solar plants nationwide. 

Solcor wants to increase energy consciousness and contribute toward decarbonizing our economy by developing sustainable relationships through fruitful, simple, and transparent agreements and collaborations. Based on their performance and financial solidity, the promotor was certified as one of Portugal's top 5% of best SMEs (2022).

Their solar plant in Museu do Caramulo is one of the first collective self-consumption installations in the country.

The team

Steven V Cauwenberge

Executive Director of the group

Founder of Solcor Group, currently working as executive director of Solcor Group. Bsc & Msc in Business Engineering - Finance at KU Leuven, Bsc & Msc in Civil Engineering and Postgrad Investment analysis at London School of Economics

Vincent Vangeel

Co-founder and CEO

Bsc & Msc in Business Engineering - Supply Chain at KU Leuven, Msc in Renewable Energy Engineering at IST Lisboa, KTH Stockholm.

Tommaso Mura

Co-founder and COO

Bsc in Energy Engineering at Politecnico di Torino, Msc in Renewable Energy Engineering at IST Lisboa, KTH Stockholm.

Business Model

Updates

2023-02-13

Successful installation of the solar panels

The promotor has installed the solar panels at  Santa Casa da Misericórdia de Alpedrinha, as shown in the picture.