Description

Recap is a Swedish organization with over 10 years of experience in renewable energy and energy efficiency projects. This is the first campaign of a series of campaigns aimed at refinancing several solar energy projects in Colombia, with a total investment of two million euros.

This is the third project promoted by the group with Goparity, after launching one successful campaign to fund two solar power plants in Brazil (our first international project) and another to fund two solar power plants for self-consumption in Colombia.

The funds raised through this campaign will be used to fund the following projects:

Lácteos Campo Real

Based in Sotaquirá (Boyacá) Lácteos Campo Real has been in the market for 17 years, producing unique and 100% natural cheeses without preservatives or chemicals. The processes are managed by skilled craftsmen, respecting the raw materials, and preserving the ancestral tradition of cheese making.

The photovoltaic plant was installed over a car park structure, and it is connected to the grid since May 2021. It will have the following characteristics:

• Installed capacity: 24 kWp
• Estimated yearly production: 36,2 MWh
• Yearly CO2 reduction: 14,07 tons (It takes 640 adult trees to absorb this amount annually).
• Contract term: 18 years
• Installer: Senergysol

CC Nuestro Atlántico

C.C. Nuestro Atlántico is a shopping centre located in the coastal city of Barranquilla in Colombia. The shopping centre opened 4 years ago and has a football court, cinema, fitness space, live music and numerous restaurants and shops.

The photovoltaic plant is connected to the grid since June 2021. It will have the following characteristics:

• Installed capacity: 320.40 kWp
• Estimated yearly production: 448,9 MWh
• Yearly CO2 reduction: 174,6 tons (It takes 7938 adult trees to absorb this amount annually).
• Contract term: 20 years
• Installer: Solenium

The Impact

Direct:

• Contribution to the decarbonization in Colombia, avoiding CO2 emission: with a clean energy production of 485,1 MWh per year, both solar installations will avoid the emission of 188,7 tons of CO2 every year. That is equivalent to planting 8.577 trees. The shopping centre Nuestro Atlántico is responsible, alone, for the reduction of emissions equivalent to 7.937 trees.

Indirect:

• Promotion of local supply chain: the Lacteos Campo Real produces artisanal cheese made without chemicals and preservatives, strengthening the role of local milk producers and suppliers in the region of Sotaquirá (Boyacá) in Colombia.
• Promotion of positive social and environmental impact in the region: the Lacteos Campo Real is a certified BIC company in Colombia – a Benefit and Collective Interest Corporation. This means that the company and its members commit to generating positive social and environmental impact as a core element of the business, beyond profit. They pay special attention to the role of women in the whole supply chain, and the main manager is a woman.
• Promotion of a transition towards sustainable and efficient resource use: the installation of a solar plant in a shopping centre Nuestro Atlántico is an example of the applicability of solar power for bigger businesses, setting a benchmark for this segment in Colombia.

Impact Indicators

188,7 t

CO2 avoided per year

485,1

MWh clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Recap in cooperation with local installers has installed the panels and will be responsible for their operation. The promoter will remain as the owner of the solar system, charging the client for the energy produced.

A PPA (Power Purchase Agreement) is a long-term agreement, for the purchase and sale of clean energy established between a renewable energy producer (in this case Recap) and the entity that consumes electricity (in this case, Lácteos Campo Real and CC Nuetro Atlántico). The institutions will therefore reduce their consumption of energy from the national electricity grid, substituting for the energy from the solar systems installed.

In turn, Recap will sell the energy at a discount after the installation of the panels. After an established period (18 years for Lacteos Campo Real and 20 years for CC Nuestro Atlántico), the panels will become the property of the institutions. In exchange for the benefits provided by the solar PV system, the client pays Recap a monthly fee defined on the contract terms.

The fee is based on the prices charged by the local utility, over which the client is granted a discount (a fixed price PPA indexed by inflation for CC Atlántico - around 25%; and a fixed discount of 17% for Lácteos Campo Real). In this sense, the end clients 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 cover the operations required for the development and management of the project.

Download Key Investment Information Sheet

The Promoter

About Recap Solar Fund II AB

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:

• Nordics (Sweden) - Ground mounted: 220 MW, Energy storage: 31.5 MW
• Colombia - Ground mounted: 43 MW, C&I / Distributed generation: 20.13 MW
• Spain - Ground mounted: 25 MW, C&I 19.1 MW 
• Brazil - C&I / Distributed generation: 0.49 MW
• India - C&I: 0.05

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.

The team

Marco Berggren

Founder & CEO

More than 17 years of experience implementing and financing clean energy projects globally. Responsible for market strategy execution, partnerships and product development.

William Morales

General Manager - Colombia

Mechanical Engineer with extensive experience in leading multidisciplinary teams in areas of energy management from non-conventional sources.

Business Model

Updates