Decarbonizing Colombia XVI

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.

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.