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Aquila

Clean solar energy for Malaysian households
Investment overview
Impact category
Sustainable energy
Investment type
Loan
Yearly interest
8.4
%
Term
60
months
Risk level
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D
C+

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Description
Impact
Financial viability
Promoter

Aquila is a climate‑finance group headquartered in Singapore that helps small and medium‑sized businesses across Southeast Asia access funding for clean‑energy projects. Instead of lending its own money, Aquila structures and manages loans between investors and companies working in solar energy, electric mobility, and other climate‑tech solutions. For this project, the promoter is Aquila Climate Capital Spain S.L., a special‑purpose vehicle (SPV) created by Aquila to raise investment from Europe.

The funds raised through this campaign will finance the expansion of Okapi, a company that helps Malaysian households install rooftop solar panels with zero upfront cost. Okapi offers long‑term payment plans that make solar energy affordable for families facing rising electricity bills. Through Aquila’s internal structure, funds from the Spanish SPV will be transferred to Okapi to finance new residential solar systems across Malaysia.

Okapi works with trusted Malaysian solar installers who handle installation, operation, and maintenance of the systems. The loan will cover the upfront cost of new solar installations, allowing Okapi to sign more solar leasing contracts with households. This means more families can reduce their electricity bills and switch to clean, renewable power without needing to pay anything upfront.

This project takes place in Southeast Asia, one of the fastest‑growing regions in the world. The region is becoming a major global manufacturing hub and attracting strong investment flows, which increases the demand for flexible financing solutions. At the same time, Southeast Asia is rapidly adopting climate‑tech solutions, with solar energy playing a central role in reducing emissions and improving energy security. Residential solar is expanding quickly, but many households still struggle to access financing, making Okapi’s model especially impactful.

This project's goal is to bring clean, affordable solar energy to Malaysian households while supporting the growth of climate‑tech financing in one of the world’s most dynamic regions.

What is the impact?

Direct

Contribution to the decarbonization of Malaysia, avoiding CO2 emissions: This loan to Okapi enables the installation of 58 photovoltaic systems with a capacity of 495 kWp and a total production of clean energy of about 696 MWh per year, the solar plant will avoid the emission of more than 538 tons of CO2 per year. This is equivalent to the CO2 absorption of almost 24.500 trees.

Indirect

Cost reduction for the end customer and easier access to solar solutions: Thanks to Okapi’s intermediation, consumers can experience a reduction in energy costs, forecasted at nearly 470.000 dollars in cumulative savings over five years and gain affordable access to solar solutions, overcoming economic and bureaucratic barriers for a quick and cost‑effective transition to solar energy and overcoming the working capital constraints that have slowed clean energy adoption.

Develop and modernize infrastructures making them resilient and sustainable: The rooftop solar installation can deliver lower energy costs and expand access to reliable, affordable clean energy for about 60 to 70 small and medium enterprises and households, contributing to both immediate and long-term reductions in greenhouse emissions by displacing electricity generated from fossil fuels and defining a long term strategy with soalr panels than can operate for more than 25 years. 

Impact indicators

538704
Kg
CO2 avoided per year
696000
KWh
clean energy

Contribution to the Sustainable Development Goals

About the Promoter

About
Aquila Climate Capital Spain S.L.

Aquila is a climate‑finance group based in Singapore that helps businesses across Southeast Asia access funding for clean‑energy projects. The group was founded in 2022 and focuses on supporting small and medium‑sized enterprises working in solar energy, electric mobility, and other climate‑tech solutions. Instead of providing loans using its own funds, Aquila specialises in structuring financing, managing risk, and connecting impactful companies with investors.

The Group operates through a simple regional structure. Aquila Climate Technology Holding Pte. Ltd., incorporated in Singapore, is the parent company. Its main operating subsidiary, Aquila Technology Vietnam LLC, is responsible for identifying projects, carrying out due diligence, and monitoring financed assets across Vietnam and neighbouring countries. Another entity, Aquila Climate Capital Pte. Ltd., is used to structure and manage financing arrangements for partners and investors. It is a separate entity within the group structure, fully owned by Stefano Pellegrino, one of Aquila’s founders and shareholders, and functions as a special‑purpose vehicle for structuring and managing financing arrangements. This SPV holds a credit portfolio of more than 4 million USD.

In addition to financing, Aquila offers an ESG data and monitoring platform that helps companies track the environmental performance of their projects.

To raise capital in Europe, Aquila created Aquila Climate Capital Spain S.L., a special‑purpose vehicle (SPV) established in 2026. An SPV is a company set up for a single, clearly defined purpose. In this case, the Spanish SPV exists only to raise funds and channel them into Aquila’s climate‑finance activities in Southeast Asia. It does not run operations or hold other business activities, which helps keep the structure simple and transparent for investors.

Aquila is led by a multidisciplinary team with experience in finance, credit analysis, technology, and sustainability. The Group’s mission is to make clean‑energy financing more accessible across Southeast Asia and to support the region’s transition to a low‑carbon economy.

Aquila's lending track record reflects the discipline of its credit process:

  • USD 22 million deployed across 20 renewable energy projects in 5 countries across Southeast Asia.
  • First-ranking security registered over the solar panels and equipment for every loan.

Promoter website

Team

[{"id":627,"promoter_id":429,"name":"Stefano Pellegrino","description":"3-times Founder and Zero-to-One business builder, with 10 years of experience in green project finance in Southeast Asia. In 2019, Stefano joined as Vietnam co-founder one of the fastest growing FinTech companies in SEA - Aspire, which raised $100mil Series C from the world's best VCs.","link":"https://www.linkedin.com/in/pellegrinostefano/","role":"Chief Executive Officer","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/69c/6ae/361/69c6ae361214d541298862.jpg","avatar_id":217373},{"id":628,"promoter_id":429,"name":"Jarek Tkaczyk","description":"Engineering Leader with over a decade of experience building software and scaling teams. Jarek was Head of Engineering at Aspire, leading a team of over 100 software engineers across 4 countries in Southeast Asia.","link":"https://www.linkedin.com/in/jarek-tkaczyk/","role":"Chief Technology Officer","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/69c/6ae/6e0/69c6ae6e03fc2060524773.jpg","avatar_id":217375},{"id":629,"promoter_id":429,"name":"Juvjen Mani","description":"Former Head of Credit Risk at Aspire where he managed a USD 65 million SME and green financing portfolio in Southeast Asia. He has over 10 years of experience in operations at Shopee and Lazada.","link":"https://www.linkedin.com/in/juvjen-mani-b4b81143/","role":"Chief Risk Officer","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/69c/6ae/932/69c6ae9322abb028752896.jpg","avatar_id":217376},{"id":630,"promoter_id":429,"name":"Ollie Smeenk","description":"Ollie founded two tech firms specializing in IoT hardware and cloud software. He has experience leading teams, raising funds, and managing KPIs, OKRs, HR, ops, finance, and hardware installations.","link":"https://www.linkedin.com/in/olliesmeenk/","role":"Chief Growth Officer","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/69c/6ae/b0d/69c6aeb0d2cb2001957283.jpg","avatar_id":217377}]

Business Model

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Campaign progress

0%

of target

18000000

Minimum

30000000

Target

30000000

Maximum

Project location
Kuala Lumpur
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