Share
20.000 €
100% funded by 120 investors
Solar Car Wash
Lousada, PT
instalment
monthly
term
5 years
yearly interest
4.9%
risk rating
B-
Solar power for self-consumption in a car wash in Portugal.
Description
Auto Lavagens da Vila is an innovative automatic car wash company in the North of Portugal that wants to become more sustainable and self-sufficient. The goal of this campaign is to finance the installation of a solar photovoltaic plant for self-consumption with a total power of 18,3 kWp in its facilities. The plant will generate 33,5MWh of energy per year.
The solar panels will be installed by Luz Verde (an energy services company). During the first 5 years, the power plant will be rented to the car wash company, after which period it will be acquired by the latter. The solar power plant will allow for significant energy savings in comparison with the car wash’s current consumption, as well as a reduction in its electricity bill.
The Impact
This project will have the following positive impact:
- Reduced dependence on carbon-based fuels, avoiding the emission of 8,7 tons of CO2 a year: with an estimated production of 33,5 MWh, the photovoltaic system will avoid the emissions equivalent to planting 409 trees.
- Cost reduction for the end client: decentralized electric energy production, near the consumption location, reduces the distribution costs making the option for renewable energy more cost-competitive than recurring to the national grid. Also, the decreased dependence on the national grid, makes the company less vulnerable to price fluctuations
Moreover, for each developed project, the promoter will take one of the two following initiatives, according to its environmental policy:
- Donate 10€ for each kW of 100% green energy installed to a non-profit organization.
- Plant a tree for each kW of 100% green energy installed.
Impact Indicators
6,8 t
CO2 avoided per year
33,5
MWh clean energy
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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Financial viability
During the first 60 months, LuzVerde is renting the photovoltaic power plant for a variable rent indexed to the production of the central. At the end of the 60 months, the car wash can acquire the central for € 682,47. Due to the cost reduction on the electricity bill, the end client will save 20,61€ a month during the rental period (after paying the PV rental costs), which makes the project financially viable since the first month. After acquiring the central, it will save 361,85€ a month. The expected lifetime of the central is up to 30 years.
Download Key Investment Information Sheet
Guarantees
This project is guaranteed with the pledge of the equipment installed. The loan is provided to LuzVerde, who acts as an ESCO, and assumes the risk of the project.
The Promoter
About Frontrow Lda
LuzVerde (Frontrow Lda) is part of a group with over ten years of experience providing energy services. Based in Northern Portugal, its main activity is to develop solar energy solutions for self-consumption for household, industry, and commerce. The company provides the following services:
- Technical evaluations to measure the estimated energy consumption of the contractor and to evaluate the characteristics of the location where the plants will be installed.
- Installation of the photovoltaic panels.
- Help with the licensing and certification processes.
- Monitoring, maintenance, and operation after the installation in order to guarantee that the panels are kept at the highest production capacity possible.
- Support the project financing.
The team
Adriana Oliveira
Business Model
The promoter’s main activity is to develop solar energy projects. The finance model of these contracts is based on an initial investment made by the energy service company (ESC) – in this case, Luz Verde. The remuneration consists of the positive difference between the estimated energy savings and the effective energy savings. Therefore, in this model, the contracting entity is reassured that its energy costs will be lower than what would happen in normal circumstances. This means that the impact on its budget is always positive, once the ESE assumes the risk for the payment of any costs that exceed what was initially contracted.
Active since
2015
Fiscal country
PT
Operating In
Portugal
Industry
Energy
Number of Goparity Loans
6
Women Shareholders
Yes
Website
http://luz-verde.pt/Updates
2020-08-07
First payment
First instalment was paid to all the investors
2020-07-20
Project implemented and in operation
The promoter has confirmed that the solar panels have been installed and that the project is operating.
2020-07-20
Project Photographs
2020-07-20
Project Update
The promoter has confirmed that 100% of the investment received has been used.
2020-07-04
100% funded
102 investors successfully raised 20.000€
2020-06-29
Open for investment
This campaign will help avoid the emission of 9 tons of CO2 per year
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