Description

This campaign aims to finance photovoltaic plants for self-consumption for not one but two Volunteer Firefighters Headquarters: Bombeiros Voluntários de Alcoentre and Bombeiros Voluntários de Montelavar.

With almost a century of history, the non-profit association Bombeiros Voluntários de Alcoentre's main purpose is to protect lives and property through its volunteer fire department. In addition, the association promotes cultural, sporting, and social activities to enrich the community. For example, its Music Band began in 1886 and is a testimony to the preservation of the region's history and culture. 

Recently, BV Alcoentre decided to seek renewable energy sources for its infrastructure. The 27.3 kWp photovoltaic installation will soon be ready for operation and will be 34% self-sufficient, resulting in 48% savings on electricity bills.

In the Sintra region, another organization that stands out for its social and environmental work is the Associação Humanitária de Bombeiros Voluntários de Montelavar (AHBVM). Founded in 1983, the AHBVM's mission is firefighting, accident relief, pre-hospital emergency services, and other activities that involve preserving and caring for the community. 

To reinforce its commitment to the environment and sustainability, AHBVM decided to invest in solar energy. The 46.2 kWp installation will provide 37% energy autonomy and save 52% on electricity bills. It will also help to reduce CO2 emissions and preserve natural resources.

Both organizations will also have their roofs replaced, from fiber cement to sandwich panels. This will result in better thermal efficiency for the buildings.

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. 

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 beneficiaries are firefighters, and the supplying company is Solcor. Additionally, Solcor ensures the solar plant's operation throughout this period, allowing the club to focus on its community. Payments will be guaranteed in part by Solcor, a financially solid enterprise, and by the beneficiary. 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 

• Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of over 100 MWh per year, the solar plant will avoid the emission of about 14 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 626 trees.
• Cost reduction for the end customer: decentralized energy production through renewable sources, close to the place of consumption, helps to avoid distribution costs, this being the most competitive option. In addition, the company's lower dependence on the national grid makes it less vulnerable to price fluctuations and tax charges.

Indirect

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

Impact Indicators

13,78 t

CO2 avoided per year

100,6

MWh clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Download the Financial Statements for the promoter here

Download Key Investment Information Sheet

Guarantees

The loans granted to the promoter SOLCORELIOS II, UNIPESSOAL LDA by the investors will be backed by the following guarantees, provided for in the loan agreements associated with the campaign:

• Pledge of a single share in SOLCORELIOS II, UNIPESSOAL LDA, held by SOLCORACTION, LDA.
• Pledge of credit rights of SOLCORELIOS II, UNIPESSOAL LDA of the amounts to be received under its service contracts with its clients: Alcoente Fire Department and Montelavar Fire Department.

The Promoter

About SOLCORELIOS II, UNIPESSOAL LDA

SOLCORACTION LDA, or Solcor Portugal, is part of Solcor Group, a group with Belgian roots, founded in 2014 and active in Portugal, Chile, and Colombia. The group is committed to developing commercial solar plants and financing these projects. To date, they have over 400 projects concluded.

Solcor often relies on technical advice from the other companies in the group, strongly connected by sharing the same shareholders. Together they are active in basically every aspect of the solar photovoltaic market: 

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

SOLCORELIOS II, UNIPESSOAL LDA is part of the Solcor Group (a daughter company of Solcor Portugal), created to develop solar projects for associations with community engagement.

Solcor has been active in Portugal since 2019. They have a talented team of 15 people with a track record of over 100 solar projects in Portugal, contributing to the company's experience in developing, operating, and financing solar plants nationwide. 

Solcor wants to increase energy consciousness and contribute toward decarbonizing our economy by developing sustainable relationships through fruitful, simple, and transparent agreements and collaborations. Based on their performance and financial solidity, the promotor was certified as one of Portugal's top 5% of best SMEs (2022).

Their solar plant in Museu do Caramulo is one of the first collective self-consumption installations in the country.

The team

Steven V Cauwenberge

Executive Director of the group

Founder of Solcor Group, currently working as executive director of Solcor Group. Bsc & Msc in Business Engineering - Finance at KU Leuven, Bsc & Msc in Civil Engineering and Postgrad Investment analysis at London School of Economics.

Vincent Vangeel

Co-founder and CEO

Bsc & Msc in Business Engineering - Supply Chain at KU Leuven, Msc in Renewable Energy Engineering at IST Lisboa, KTH Stockholm.

Tommaso Mura

Co-founder and COO

Bsc in Energy Engineering at Politecnico di Torino, Msc in Renewable Energy Engineering at IST Lisboa, KTH Stockholm.

Business Model

Updates