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International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 11:07

Solar power park project in Estonia raises EUR 132,000 via crowdfunding

BC, Tallinn, 19.06.2020.Print version
Solarfund, which in April 2020 launched a crowdfunding campaign on the Fundwise platform promoting itself as Estonia's first solar power park owned by the people, has raised 132,400 euros for the project, which makes up 66% of the target amount of 200,000 euros, informs LETA/BNS.

The company standing behind the project is Energiateenus OU, which has established a separate company, Solarfund OU, to run the project. The latter will set up and manage the solar power parks, while the know-how will be provided by Energiateenus OU, it appears from the campaign materials. 


In the first phase of the project, the establishment of ground based solar power parks will be in the focus. The electricity generated by the ground based parks will be sold to the free market.  


The output of the roof-based solar power parks to be established in the second phase of the project would be sold to local consumers.  


The estimated life cycle of the solar power park is over 30 years and it will start generating positive cash flow from the moment it is launched, Solarfund has said. 






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