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Confirmed Amount = 137.615,07 €
Reserved Amount = 9.729,95 €

147.345,02 €

150.000 €

8 days left to close

Decarbonizing Colombia III

Location Pin Svg

North, CO

Refinancing solar energy for self-consumption.

quarterly

instalment

3 years

term

7%

a year

B-

rating

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 fourth campaign promoted by the 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 two others 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 
(kWp)

Yearly generation 
(MWh) 

Term 
(years)

El Tambor 

Tenjo 
Cundinamarca 

Colombian traditional restaurant 

19,22

23,43 

Agromonte Gachancipa 

Gachancipá 
Cundinamarca 

Flower producer 

12,62

32,33 

7

Gabriel De 
Colombia 

Bogotá- Cundinamarca 

Manufacturer of motor vehicles 
parts and accessories 

319,68 

442,89 

8

Colegio 
Claretiano 

Bogotá- Cundinamarca 

School 

60,75 

91,61 

15

Lácteos 
Campo Real 

Sotaquirá 
(Boyacá) 

Artisanal cheese producer 

24 

36,18

18

Ladrillera 
El Rubí 

Tunja 
(Boyaca) 

Manufacturer of block, bricks 
and clay derivatives 

129,56 

167,13 

8

Hotel 
Hilton Garden 

Bogotá- Cundinamarca 

Hotel 

163,2 

219,61 

8

Icoltrans 

Medellín (Antioquia) 

Logistics and transport 

243,8 

341,42 

8 

Impuche 

Barranquilla (Atlántico) 

Metallurgy products manufacturer 

99,98 

168,4 

20 

Bicosa 

Barranquilla (Atlántico) 

Textile manufacturer 

185,1 

0,31 

20 

Liceo Francés 
Medellin 

Medellín (Antioquia) 

School 

27,9 

43,08 

20 

Laboratorios 
Aseptic 

Barranquilla (Atlántico) 

Manufacturer of health, pharmaceutical 
and cosmetic products 

141,94 

242,18 

20 

Contex 

Barranquilla (Atlántico) 

Construction company 

436,16 

706,1 

20 

Rpm Colombia 

Bogotá- Cundinamarca 

Business management 

292,34 

419 

20 

Industria 
Articueros 

Barranquilla (Atlántico) 

Manufacturer of vinyl fabrics 

678,68 

1116,9 

20 

Nutrimentos 
Super 

Medellín (Antioquia) 

Producer of animal feeds 

99,64 

151,1 

20 

Cc Atlántico 

Barranquilla (Atlántico) 

Shopping center 

320,4 

448,92 

20 

 

So far, the promoter has raised 250.000€. The goal is to raise the remaining amount within the next months. 

 

The Impact

This campaign is one of several to fund the installation of photovoltaic plants in 17 organizations in Colombia 

Direct environmental impact

  • Contribution to the decarbonization in Colombia, avoiding CO2 emission: The whole operation is estimated to produce 4.650,57 MWh of clean and renewable energy per year, avoiding the emission of 1.934,02 tons of CO2 annually, the equivalent to planting 87.910 trees. 
    • This campaign will be responsible to fund the production of 348,79 MWh of clean energy per year and avoid the emission of 145,05 tons of CO2 annually. This would be equivalent to planting more than 6.593 trees. 
  • Cost reduction for the final clients: the decentralised energy production through renewable sources, close to the consumption site, helps to avoid distribution costs, making this a more competitive option than reverting to the national grid. Furthermore, the decreased dependency of the company on the national grid, makes it less vulnerable to price fluctuations and fiscal charges. It is estimated by Recap that the energy costs are reduced between 5% and 30% for their end-clients in Colombia. 
  • Support reduction of energy consumption: through providing services for improvements in energy efficiency use, Recap allows the companies to operate in a more efficient way, allowing around 50% reduction of energy consumption from the grid. 

Indirect Impact 

  • Promotion of solar decentralized energy: with its Solar Funds, Recap enables smaller organizations of many different sectors to transition to renewable energy sources. Through decentralized photovoltaic centrals, the organizations are less dependent on the national grid and improve the country’s clean energy consumption participation. 
  • Support local companies: Recap partners with Colombian installers, providing them a financial option to clients interested in installing the solar plants. They ensure the companies are aligned with Recap’s values and apply screening criteria for the potential clients. Afterwards Recap makes its own financial and credit analysis. 

Metrics Svg

145,05 t

CO2 avoided per year

Metrics Svg

0,3

MWh clean energy

Sustainable Development Goals

7 image
9 image

Financial viability

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.

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Key Investment Information Sheet

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Guarantees

• 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

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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 contracted capacity by region is:

  • Sweden: 3.1 MWp in partnership with Vattenfall
  • Spain: 9.93 MWp (rooftop) + 25 MWp ground mounted
  • Colombia: 3.38 MWp
  • Brazil: 55 kWp
  • Portugal: 134 kWp
  • India: 21.80 kWp

Currently, Recap has 67 clients in Spain, Portugal, Sweden, India, and Latin America. The project sizes range from 10 kWp to 2.3MWp.

The Recap Group provides customized energy solutions for its clients, which can include electric mobility, energy storage, and energy management systems.

Recap employees 41 people, two are working in Colombia:

Marco Berggren – Founder and CEO



William Morales – Regional Manager Colombia 


Business Model

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

Colombia

Industry

Renewable energy

Number of GoParity Loans

4

Women Shareholders

1

Website

https://www.recap.se/

Updates

2021-09-01

Open for investment

This campaign will help avoid the emission of 145 tons of CO2 per year

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GoParity is an impact investment platform that connects companies looking to finance their sustainable projects, with individuals and entities who want to invest sustainably. We are growing, both in terms of size and impact generated. We were born in Portugal in 2017, but have since then financed projects and grown a large community of investors all around the world.

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© 2021 GoParity

Part or all of your original invested capital may be at risk and the return on your investment depends on the success of the project invested in. Consider all risks before investing and read the Key Investment Information Sheet (KIIS) for each investment, available at www.goparity.com. Power Parity, Lda is a crowdlending platform authorized and supervised by CMVM (Portuguese Securities Commission). All payments, transfers and funds collection are assured by MangoPay SA, an electronic payments institution authorized and supervised by CSFF (Luxembourg Financial Authority) under the nº 8711.