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Renewable energy crowdfunding platform Fundeen eyes 2019 profit amid sector boom

Spain · Jan 31, 2019· By Amalia González

© Fundeen

The young Spanish startup is eyeing projects worth €220 million by 2023, while cutting CO2 emissions equivalent to 1.3 million Madrid-New York flights

Individuals can now invest in renewable energy projects in Spain – a market once reserved for energy giants and financial institutions – thanks to Fundeen, the country's first renewable energy crowdfunding platform.

Last November, the Spanish government announced plans to switch the country's electricity system to 100% renewable energy by 2050, installing at least 3,000 MW of wind and solar power capacity every year in the next 10 years. In the first half of last year, 45.8% of the country's power needs, equivalent to 126,411 GW, had come from renewable energy sources.

For as little as €500, personal investors can use Fundeen to help fund the building of a photovoltaic facility, for example. The platform, which was launched in July 2017, is targeting 15,000 investors in 2019 to fund 15 projects estimated to be worth 1820 million in total, and generate about 23 MW of renewable energy.

Edited by Suzanne Soh

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