Decarbonizing Congelagos IV
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Decarbonizing Congelagos IV

913kW solar plant for the sustainable fish industry.
Investment overview
Impact category
Sustainable energy
Investment type
Loan
Yearly interest
5.5
%
Term
72
months
Risk level
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Description
Impact
Financial viability
Promoter

What will you be financing?

Congelagos wants to bring a 360º sustainability model to the fishing market. It focuses on processing undervalued, abundant species captured sustainably, minimizing waste, and acting as an always-ready buyer of Portuguese fish. Now Congelagos is decarbonizing its industrial operations.

After raising 375.000€ in their first, second and third campaigns this is Congelagos's fourth and last campaign to build a 913kW photovoltaic plant. 

This is the largest solar energy project in Goparity’s history. The goal is to raise 500.000€ in four campaigns.

The photovoltaic plant is already being installed on the Congelagos complex in Lagos and will produce sufficient energy to power 35% of its fish processing and freezing operations. 

The solar photovoltaic plant has an output of 913kW and will produce over 1500 MWh per year. This plant can supply the equivalent of 405 European households per year on average (at its peak output). That means avoiding the emission of more than 202 tons of CO2, which is equivalent to planting more than 9200 trees.



This is the largest plant ever funded through Goparity, and its implementation is part of Congelagos's sustainability strategy. This installation will substantially reduce the Company's dependence on fossil fuels, allowing it to cut 35% of the energy it consumes from the grid. In addition to this decrease in dependency from the grid, the project represents considerable savings in energy costs and a significant step in the decarbonization of the Portuguese economy. This project is especially relevant at a time of geopolitical tensions over global energy interdependence, underscoring the need for investment in energy efficiency, self-reliance, clean energy and more sustainable productions.

The solar panels, purchased partially with proceeds from the first campaign, were delivered in Congelagos:

After the second and third campaigns the installation process started at Congelagos:



If you understand Portuguese, you can check the videos below, by Youtube Roberto Jorge who has visited the project twice: 

What is the impact?

Direct:

  • Contributing to the decarbonization of the economy, helping to avoid the emission of CO2: with an estimated clean energy production of 1500 MWh per year, the entire solar plant will help avoid the emission of 202 tons of CO2 per year, equivalent to planting 9200 trees.
  • Energy cost reduction: the decentralized energy production through renewable sources, on the consumption site, eliminates distribution costs, making this a more competitive option than reverting to the national grid. Furthermore, the decreased dependency of the company on the national grid, makes it less vulnerable to price fluctuations and fiscal charges.

Indirect:

  • Sustainability commitment practices: congelagos has committed to being a sustainable business with a 360º Sustainability vision through measures such as:
    • Advocacy of zero food waste, by positioning itself as Portugal’s market-maker of fish, ready to buy all fish, particularly species that are undervalued and traditionally rejected at sea and wasted, transforming them and placing them in markets that value them;
    • Minimizing the environmental impact of its production and products. The factory does not produce polluting gas, applies policies of minimizing energy and water consumption, and uses reusable consumables whenever possible; 
  • Promotion of industry innovation: congelagos invests a substantial portion of its revenues in the development of innovative, sustainable, and healthy products. Congelagos works closely with the University of the Algarve, CoLab B2E and other development partners, developing new products and sponsoring sustainability studies, particularly of Atlantic chub mackerel (Scomber colias). 
  • Promotion of marine equilibrium: congelagos stimulates the capture of species like mackerel and horse mackerel, which are traditionally rejected and abundant in Portugal. These species compete for resources and are predators of species in recovery. By stimulating their capture, Congelagos is contributing to the rebalancing of marine environments.
  • Promotion of sustainable marine economic activity: congelagos acquires fish previously validated by Docapesca (a Portuguese company owned by the Portuguese State and supervised by the Ministry of the Sea), which validates the legality of the captures. In practical terms, the purchase of species in their natural breeding seasons is avoided, and even in periods where fishing is authorized, the company only buys after careful verification of sizes and quantities. Fish purchases are made via direct agreements with small local purse seine boats, contracts with fishermen's cooperatives at a national level, and internationally working only with verified and certified sources.

Impact indicators

36514
CO2 avoided per year
272491
clean energy
created by our projects
of sustainable
impacted

Contribution to the Sustainable Development Goals

About the Promoter

About
Congelagos - Transformação e Comércio de Produtos Alimentares, S.A.

Direct:

  • Contributing to the decarbonization of the economy, helping to avoid the emission of CO2: with an estimated clean energy production of 1500 MWh per year, the entire solar plant will help avoid the emission of 202 tons of CO2 per year, equivalent to planting 9200 trees.
  • Energy cost reduction: the decentralized energy production through renewable sources, on the consumption site, eliminates distribution costs, making this a more competitive option than reverting to the national grid. Furthermore, the decreased dependency of the company on the national grid, makes it less vulnerable to price fluctuations and fiscal charges.

Indirect:

  • Sustainability commitment practices: congelagos has committed to being a sustainable business with a 360º Sustainability vision through measures such as:
    • Advocacy of zero food waste, by positioning itself as Portugal’s market-maker of fish, ready to buy all fish, particularly species that are undervalued and traditionally rejected at sea and wasted, transforming them and placing them in markets that value them;
    • Minimizing the environmental impact of its production and products. The factory does not produce polluting gas, applies policies of minimizing energy and water consumption, and uses reusable consumables whenever possible; 
  • Promotion of industry innovation: congelagos invests a substantial portion of its revenues in the development of innovative, sustainable, and healthy products. Congelagos works closely with the University of the Algarve, CoLab B2E and other development partners, developing new products and sponsoring sustainability studies, particularly of Atlantic chub mackerel (Scomber colias). 
  • Promotion of marine equilibrium: congelagos stimulates the capture of species like mackerel and horse mackerel, which are traditionally rejected and abundant in Portugal. These species compete for resources and are predators of species in recovery. By stimulating their capture, Congelagos is contributing to the rebalancing of marine environments.
  • Promotion of sustainable marine economic activity: congelagos acquires fish previously validated by Docapesca (a Portuguese company owned by the Portuguese State and supervised by the Ministry of the Sea), which validates the legality of the captures. In practical terms, the purchase of species in their natural breeding seasons is avoided, and even in periods where fishing is authorized, the company only buys after careful verification of sizes and quantities. Fish purchases are made via direct agreements with small local purse seine boats, contracts with fishermen's cooperatives at a national level, and internationally working only with verified and certified sources.

Promoter website

https://congelagos.com/

Business Model

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