Description

This campaign aims to finance a photovoltaic self-consumption system for the company Alvarsol, Sociedade de Lavandarias do Algarve, Lda.

The installation and operation of the solar panels will be carried out by the campaign promoter: Solcor Portugal, specialising in solar installations.

Founded in 1983, Alvarsol, Sociedade de Lavandarias do Algarve, Lda., is a company that offers textile care for hotels and restaurants. Their services include industrial laundry, the sale of industrial chemicals, new and used machines, and specialized technical services. Alvarsol uses chemical procedures without alkalinity or chlorine, the company maintains high quality and hygiene standards through investments in technology and training.

Social responsibility is one of the pillars of the company, which supports charities and maintains partnerships with cultural associations. They also offer professional training programs, collaborating with the school Escola EB Dr. António de Sousa Agostinho to train future professionals.

Alvarsol is now expanding its commitment to sustainability by replacing its roof and installing a 110 kWh solar plant. This installation will produce approximately 154 MWh annually, providing 24% self-sufficiency and reducing costs by 25%.

This is Solcor's eighteenth campaign. In 13 out of the 17 previous campaigns, the financing objective was solar energy for social organizations (IPSS): Solcor Solar Social, Solcor Solar Social II, Solcor Solar Social III, Solcor Solar Social IV,  Solcor Solar Social V, Solcor Solar Social VI. Casarão Solar, Solcor Solar Social VII, Solcor Solar Social VIII, Solcor Solar Social IX, Solcor Solar Social X, Solcor Solar Social XI, Solcor Solar Social XII, Neutripuro Solar, and Solcor Social XIII.

The Impact

Direct  

• Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of 154 MWh per year, the solar plant will avoid the emission of about 13 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 602 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 

• Promoting sustainable business: the project developed for Alvarsol a is an example of the applicability of solar power for any business, and in this case serves as a benchmark to similar industries, an important step towards sustainability for businesses in Portugal. 

Impact Indicators

13.24 T

CO2 avoided per year

154 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

Loans granted to the promoter SOLCORELIOS II, UNIPESSOAL LDA by investors will have the following guarantees, as stipulated in the loan agreements associated with the campaign:

• Pledge of the sole quota of SOLCORELIOS II, UNIPESSOAL LDA, owned by SOLCORACTION, LDA.
• Pledge of credit rights from SOLCORELIOS II, UNIPESSOAL LDA, regarding amounts receivable under its service contract with its client: Alvarsol, Sociedade de Lavandarias do Algarve, Lda.

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