Description

This campaign aims to finance a photovoltaic plant for self-consumption at the association Associação Sócio-Cultural, Recreativa e Educativa da Cumieira e Circunvizinhas (ASCRECC).

The installation and operation of the solar panels will be installed and operated by the campaign promotor: Solcor Portugal, a company specializing in the development and operation of solar photovoltaic installations. 

ASCRECC is an institution with over 20 years of activity. They offer services in the area of health and well-being for the elderly population, with disabilities or impairments. In addition to providing an Elderly Home, Home Support Service, and Day Center (CD) services, ASCRECC carries out a variety of activities throughout the year, such as monthly excursions for beneficiaries and various cultural activities.

Recently, ASCRECC took the sustainable initiative of installing solar panels on its building. The project, which will have 74 photovoltaic panels, will have a capacity of 36.3 kWp, allowing the association to be 35% self-sufficient in energy and reduce its energy costs by 51%.

This initiative benefits the institution and its beneficiaries since it allows a more conscious and sustainable use of energy resources and reduces dependence on non-renewable energy sources.

This campaign offers a longer-than-average loan term for Goparity standards. This means you will receive your capital back and gain interest over a more extended period of time. The rental agreement associated with the self-consumption photovoltaic installation foresees a low monthly payment by the beneficiary, who enjoys savings without initial financial investment to purchase the solar panels. Therefore, since the supply company’s payback period is longer, the payment plan is also extended (8-15 years). In this project, the beneficiary is a social solidarity private institution, and the supplying company is Solcor. Additionally, Solcor ensures the solar plant's operation throughout this period, allowing the social institution to maintain its focus on the community. Payments will be guaranteed in part by Solcor, a financially solid enterprise, and by the beneficiary. The savings generated by the solar plant for the beneficiary can be invested in social impact projects, where they make a difference. A solar panel can be used for about 30 years, making it a safe, profitable investment with relevant environmental impact. Impact investing in this type of project is a commitment to cleaner, safer, decentralized, and democratic energy systems.

The Impact

Direct

• Contributing to the decarbonization of the economy, by avoiding the emission of CO2: with an estimated clean energy production of over 51.80 MWh annually, the solar plant will help avoid the emission of more than 7 tonnes of CO2, equivalent to planting 323 trees.
• Cost reduction for the final client: the energy production for own consumption will energy reduce costs in 51%, enabling the association to direct resources to its core activity. 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 organisation on the national grid, makes it less vulnerable to price fluctuations and fiscal charges.

Indirect

• Improvement of the organization's core services: the cost reduction in electricity expenses enables the association to improve their services for the community.

Impact Indicators

7.1 T

CO2 avoided per year

51.8 Mwh

clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Download Key Investment Information Sheet

Guarantees

Pledge of equipment, pledge of receivables from the final client and pledge of Solcor Portugal.

The Promoter

About SOLCORELIOS II, UNIPESSOAL LDA

SOLCORACTION LDA, also known as Solcor Portugal, is part of the Solcor Group — a company with Belgian roots, founded in 2014 and active in Portugal, Chile, and Colombia. The group focuses on commercial solar installations and project financing, with over 650 completed projects to date.

Solcor frequently relies on technical guidance from other companies within the group, which are closely connected through shared ownership. Together, their activities span nearly every aspect of the solar photovoltaic market:

• EMAT - a distributor of photovoltaic equipment.
• Nikola - a resilient installer.
• Delta Activos -  a company dedicated to solar maintenance.

SOLCORELIOS II, UNIPESSOAL LDA is part of the Solcor Group (a subsidiary of Solcor Portugal), created to develop solar projects for associations and organizations with community involvement or social purposes.

Solcor has been active in Portugal since 2019. Its talented team of 15 professionals has delivered over 200 solar projects nationwide, contributing to the company’s expertise in developing, operating, and financing solar power plants.

Solcor aims to raise energy awareness and support the decarbonization of the economy by building sustainable relationships through positive, simple, and transparent agreements. Based on its performance and financial strength, the company is certified as PME Lider.

Its solar plant at the Caramulo Museum was one of the first collective self-consumption installations in the country.

The team

Steven V Cauwenberge

Chief Executive Officer of the group

Founder of the Solcor Group, currently serving as Chief Executive Officer of the Solcor Group. Master’s degree in Business Engineering – Finance from KU Leuven. Master’s degree in Civil Engineering. Postgraduate studies in Investment Analysis at the London School of Economics.

Vincent Vangeel

Co-founder and CEO

Master’s degree in Business Engineering – Supply Chain from KU Leuven. Master’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.

Tommaso Mura

Co-founder and COO

Graduated in Energy Engineering from the Polytechnic University of Turin. Master’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.

Business Model

Updates