Share
100% funded by 298 investors
Praia da Rocha Solar Club
Portimão, Algarve, PT
instalment
monthly
term
6 years
yearly interest
4.25%
risk rating
B-
Solar energy for self-consumption at the Praia da Rocha Club in Algarve.
Description
The aim of this campaign is to fund two photovoltaic plants for self-consumption at the Praia da Rocha Club, Portugal’s largest condominium located at Praia da Rocha beach in Portimão, Algarve.
The Praia da Rocha Club was built in 1986 and renewed in 2005. The property is located 10 kilometers away from the Alcalar Megalithic site. It was recently converted to housing, being the largest condominium in Portugal, with 627 apartments. The photovoltaic modules will be installed on the roof of two of the hotel group buildings, through a gravity installation without the need for drilling, maximizing the existing space in order to reduce the effects of shadows caused by the equipment installed there, as shown in the image below.
The plants will have a total installed power of 46 kWh, producing an average of 82.3 MWh of clean energy per year.
SOLVASTO, a Portuguese energy services company, will be the promoter of the project, as well as the owner of the panels during the first years. In addition to this, it will ensure the installation and operation of the plant.
The Impact
Direct:
- Contribution to the decarbonisation of the economy: with an estimated production of 82.3 MWh of clean energy per year, the two solar plants will avoid the emission of 16.7 tons of CO2 per year, equivalent to the CO2 absorption capacity of 759 trees.
Indirect:
- Raising awareness about sustainability in the community of owners, tourists, workers and customers.
Impact Indicators
16.7 T
CO2 avoided per year
82.3 Mwh
clean energy
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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Financial viability
During the first 6 years of the plants' operation, SOLVASTO will own the solar panels, charging a fixed income of around € 7,500 / year, which is considerably less than the estimated benefit from the savings obtained in the current energy bill. At the end of this period, the ownership of the plants will be transferred to Praia da Rocha Club without any additional cost. The panels will allow significant energy savings compared to the company's current consumption, with an average reduction in electricity costs of around 12,000 € / year, during the first 6 years of operation. Thus, it is estimated that the project payback will occur in less than 4 years. During the contract with SOLVasto the customer, without any cost or risk, will obtain an estimated benefit of more than € 4,400 / year, after the settlement of the annual fixed income. After this contract period, and considering the useful life of the 25-year power plants, Praia da Rocha Club will be able to benefit from savings above € 280,000.
Download Key Investment Information Sheet
Guarantees
The project will be guaranteed through the pledge of the equipment installed. The loan will be extended to SOLVasto.
The Promoter
About SOLVASTO - PROJETOS E INVESTIMENTO, LDA
SOLVASTO provides services for photovoltaic installations and energy efficiency projects, managing the global process from the engineering, licensing, financing, acquisition, monitoring, maintenance and operation of photovoltaic systems.
The team
Nuno Giraldo Torres
Born in Luanda, Nuno graduated in Mechanical Engineering at the University of Coimbra and has a Masters in Management at the Technical University of Lisbon (ISEG). He has extensive experience in renewable energies, and energy efficiency, particularly in biogas, photovoltaic solar, thermal energy, and energy efficiency. In his professional career, he worked at Enersky, Turbomar Energia, and the German multinational Donauer Solar Systems. He was also a technical consultant for Falconer, the oldest solar thermal company in Portugal; commercial director of CEBC Energia; head of Marketing and Sales at Vivapower; consultant at Sueca Aura Light; and Sales Director at the commercialization company Elusa.
Paulo Oliveira
Paulo Oliveira was born in Jersey (UK), has training in renewable energies, and has gained over the last 12 years accumulating experience in the field of photovoltaic solar, having been a board member of several companies in the sector, namely WS Energia, the multinational German Donauer Solar Systems, where he met Nuno, Martifer Solar and Vivapower for the first time, where he became a colleague of Nuno, and Redeforte before joining the SOLVasto project.
Business Model
SOLVASTO offers 360º, turnkey solutions, with the objective of increasing the sustainability of our customers, providing the following services in the area of energy efficiency:
- Technical/engineering design
- Licensing
- Procurement
- Financing Solutions
- Installations
- Operation and maintenance
- Systems performance
Active since
2016
Fiscal country
PT
Operating In
Portugal
Industry
Energy
Number of Goparity Loans
3
Women Shareholders
No
Website
https://solvasto.pt/Updates
2025-03-12
The project has been successfully implemented while payments are ongoing
The promoter Solvasto has successfully installed the solar panels system over the roof of the condominium Praia da Rocha Club located in Portimão, in Portugal’s Algarve region.
The photovoltaic plant contributes to renewable energy generation in Portugal and avoids the emission of CO2, equivalent to the absorption of over 750 trees every year.
2021-05-05
First payment
First instalment was paid to all the investors
2021-04-02
100% funded
277 investors successfully raised 39.900€
2021-03-18
Open for investment
This campaign will help avoid the emission of 17 tons of CO2 per year
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