Description

Recap is a Swedish organization with over 10 years of experience in renewable energy and energy efficiency projects. This is the second campaign of a series of campaigns aimed at refinancing several solar energy projects in Colombia, with a total investment of two million euros. The first campaign closed after the company was able to raise 150.000€ through Goparity.

This is the fourth 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 other two projects (here and here) to fund solar power plants for self-consumption in Colombia.

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

El Tambor
El Tambor is a restaurant located in Tenjo (Cundinamarca) in Colombia, and active for more than 21 years. The restaurant serves traditional Colombian dishes and focuses on honoring Colombian culture and providing a place for family moments.

The photovoltaic plant will have the following characteristics:

• Installed capacity: 19,22 kWp
• Estimated yearly production: 23,4 MWh
• Yearly CO2 reduction: 9,11 tons (It takes 414 adult trees to absorb this amount annually).
• Contract term: 7 years
• Installer: Senergysol

Laboratorios Aseptic

The Laboratorios Aseptic is a manufacturer of health, pharmaceutical and cosmetic products in the coastal city of Barranquilla in Colombia. It has 90 years of history, and one of its main values is the equal and integral development of human talent.

The photovoltaic plant will have the following characteristics:

• Installed capacity: 141,94 kWp
• Estimated yearly production: 242,2 MWh
• Yearly CO2 reduction: 94,26 tons (It takes 4285 adult trees to absorb this amount annually).
• Contract term: 20 years
• Installer: A-Group

The Impact

Direct:

• Contribution to the decarbonization in Colombia, avoiding CO2 emission: with a clean energy production of 265,6 MWh per year, both solar installations will avoid the emission of 103,4 tons of CO2 every year. That is equivalent to planting 4699 trees. The Laboratorios Aseptic is responsible, alone, for the reduction of emissions equivalent to 4285 trees.

Indirect:

• Promotion of the local economy: By reducing the costs of the energy of the two local businesses, this project contributes to sustaining the local economy in Tenjo and in Barranquilla, Colombia.
• Promotion of responsible businesses in Colombia: beyond reducing their carbon footprint through the installation of solar energy systems, the restaurant El Tambor and Laboratorios Aseptic are committed to responsible business practices. The restaurant El Tambor is eco-friendly, and uses, for its food delivery system, only 100% reusable, biodegradable, and recycled materials. The Aseptic labs are certified with the good manufacturing practices (Buenas Prácticas de Manufactura) seal by Invima, the Colombian National Food and Drug Surveillance Institute.
• Promotion of a transition towards sustainable and efficient resource use: installing a solar plant in a health, pharmaceutical, and cosmetic company as Laboratorios Aseptic is an example of the applicability of solar power for bigger businesses, setting a benchmark for this segment in Colombia.

Impact Indicators

103,4 t

CO2 avoided per year

265,6

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, El Tambor and Laboratorios Aseptic). 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 (7 years for El Tambor and 20 years for Lab Aseptic), 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 indexed by inflation for Laboratorios Aseptic - around 35%; and a fixed discount of 20% for El Tambor). 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 covers 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