Description

Solcor Portugal is a company that specialises in the development of solar installations.

This is the second campaign by the promoter Solcor Portugal to finance the energy transition of the agricultural company António Evaristo Gonçalves. In the first campaign (Solar Evaristo Gonçalves), they raised €160.000 to finance two photovoltaic plants for self-consumption.

Located in the Lezíria region of Ribatejo (Portugal), the agricultural company António Evaristo Gonçalves focuses on vegetable production. With more than 16 years of activity, the company's land is home to vineyards that contribute to the region's wines and tomato plantations for processing into pulp.

The funds from this campaign will enable the installation of a third solar plant with 55.20 kWp, expected to produce 93.66 MWh annually, reducing energy costs and enhancing self-sufficiency.

António Evaristo Gonçalves focuses on product quality and efficient production and is committed to energy transitions and decarbonizing their activity by using solar energy.

This is Solcor's nineteenth campaign. 13 of the 18 previous campaigns financed solar energy for social organizations: Social Solar Solcor, Social Solar Solcor II, Social Solar Solcor III, Social Solar Solcor IV, Social Solar Solcor V, Social Solar Solcor VI, Solar Casarão, Social Solar Solcor VII, Social Solar Solcor VIII, Social Solar Solcor IX, Social Solar Solcor X, Social Solar Solcor XI, Social Solar Solcor XII, Solar Neutripuro, and Social Solar Solcor XIII.

The Impact

Direct

• Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of over 93 MWh per year, the solar plant will avoid the emission of about 8 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 366 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 António Evaristo Gonçalves 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

8,05 t

CO2 avoided per year

93,7

MWh clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

The project is co-financed by Solcor Portugal, guarantor of the loan.

The loan repayment plan has been calculated to ensure that the monthly installments are covered by the revenues generated through the solar plant rental payments.

Download the Financial Statements document related to the promoter here: Financial Statements - Solcorelios II.pdf

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:

• 1st degree pledge of credit rights by SOLCORELIOS II, UNIPESSOAL LDA (‘Seller’) of amounts receivable under a service contract with its client: António Evaristo Gonçalves - Sociedade Agrícola, Unipessoal LDA (‘Client’) with the following NIF 508776597. The contract began on 12/07/2024 and will run for 120 months. It has been agreed that the Client will be obliged to pay the Seller 960 euros per month.
• 1st degree commercial pledge, under Portuguese law, provided by SOLCORELIOS II, UNIPESSOAL LDA of movable assets that are already in the construction phase, totalling an LTV (Loan To Value) of 100%, namely: photovoltaic plant with a power of 55,20 kWp consisting of 96 Risen photovoltaic panels, RSM144-9-575BNDG (575W), 1 Huawei SUN2000-50KTL 50 kW inverter, 1 support structure (Sikla - Estacada Monoposte), 1 monitoring equipment with Huawei Smartdongle internet connectivity and AC and DC equipment and accessories that were supplied by the company SOLCORACTION, LDA with the following tax identification number 515346306.

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