sustainable_energy svg
100%
300.000 €

Settled by the promoter

Decarbonizing Colombia XVI

Location Pin Svg
Barranquilla, CO

instalment

quarterly

term

4 years

yearly interest

7.25%

risk rating

B-

Financing solar energy for self-consumption.

Description

Recap is a Swedish organization with over 10 years of experience in renewable energy and energy efficiency projects. 

This campaign aims to finance a portfolio of 2 solar energy projects in Colombia, in Barranquilla for a total investment of 490 thousand euros. 

This is the twentieth-first campaign run by Recap Energy with Goparity. Recap Energy has financed twenty previous campaigns: 

The funds will be used to finance the following new projects:


Location


Client


Capacity kWp

Activity
 
Barranquilla (Atlántico, Co)
LABORATORIOS ASEPTIC
141,94
Laboratory 
Barranquilla (Atlántico, Co)
INDUSTRIA ARTICUEROS
533,68 Vinyl fabric



The Impact

Direct

  • Contribution to the decarbonization in Colombia, avoiding CO2 emission: The operation is estimated to annually produce 1120 MWh of clean and renewable energy and avoid the emission of over 153 tonnes of CO2 per year, the equivalent to the absorption of 6980 trees, and contributing to increase the renewable energy production share of Colombia.
  • Cost reduction for the final clients: the decentralized 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: By providing services for improvements in energy efficiency use, Recap allows the companies to operate more efficiently, allowing around 50% reduction of energy consumption from the grid.

Indirect

  • 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 potential clients. Afterward, Recap makes its own financial and credit analysis.

Sustainable Development Goals

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Financial viability

The funds raised with these campaigns will be used to finance 2 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 Recap Solar Colombia SAS (a local company owned by the promoter) 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 Recap Solar Colombia SAS 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) 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 Colombia SAS 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 Colombia SAS 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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Download the Financial Statements for the promoter here

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Download Key Investment Information Sheet

Security SVG
Guarantees

Pledge contract over the shares of ReCap Solar Fund II AB.

Pledge contract over the shares of ReCap Solar Colombia SAS.

Pledge contract over the credit rights receivable arising from the savingsharing agreement , that belong to ReCap Solar Colombia SAS.

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

linkedin
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

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General Manager - Colombia

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

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

"Brazil, Colombia and Spain"

Industry

Investment

Number of Goparity Loans

11

Women Shareholders

Yes

Updates

2025-03-28

Project settled early

This project has been settled earlier than originally planned. All investors have received their capital invested in full as well as the interest payment.


Thank you for supporting this project! Your contribution will help generate impact for many more years.

2024-03-28

First payment

First instalment was paid to all the investors

2023-12-19

100% funded

1703 investors successfully raised 300.000€

2023-12-07

Open for investment

This campaign is open for investment

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