Renewable energy crowdfunding platform Fundeen eyes 2019 profit amid sector boom
Spain · Jan 31, 2019· By Amalia González
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 €18–20 million in total, and generate about 23 MW of renewable energy.
Edited by Suzanne Soh
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