Crowd Funding Sought For Greek Solar Plants

• Akuo Energy has announced a new crowdfunding campaign for its Greek PV farm  
• The funds raised will help refinance the 4 MW project that has been operational since 2023 
• There is significant interest in the funding round that's open to all interested investors from Europe 

Independent power producer (IPP) of renewable energy, Akuo Energy has launched a crowdfunding campaign to raise funds to refinance its 4 MW operational solar PV capacity in Greece. The fundraising is open on the crowdfunding platform Lendosphere to all European citizens.  

The French energy company has fixed the minimum funding amount at €100 and targets to raise an initial amount of €1 million.  

Investment can be made as 4-year bonds with an annual interest rate of 6.5%. It offers a simulation saying that for an investment of €1,000, an investor can receive 32.5% as interest every 6 months. At the end of the investment period in 2028, the investor will receive €1,260.  

Since July 1, 2024, when reservations for investment opened, Akuo has reserved over €1.62 million in bonds. Subscriptions will open on July 9, 2024.  

The 4 solar energy plants make up the Thessaly Solar Farm in Greece with an annual generation capacity of 6.3 GWh. These have been operational since 2023 and selling electricity directly on the energy market.   

Akuo says this portfolio represents stage 1 of the vast program of projects it is currently developing in collaboration with the Thessaly region. It should amount to the construction of 500 MW.  

"At the end of 2022, the Greek government announced its target of increasing the share of renewables in the country's energy mix to 80% by 2030 in order to make Greece a pioneer within the EU! This commitment was the sign the renewable energy industry was waiting for to truly step up a gear. To this end, Akuo wants to involve as many citizens as possible in its projects, which must benefit them from every perspective," said Chairman and co-founder of Akuo, Éric Scotto. 

This is, however, not the 1st crowdfunding campaign for Akuo. It has so far raised €12 million through 46 fundraisers and 1,873 lenders. Its latest Greek crowdfunding campaign is available on its crowdfunding platform AkuoCoop by Lendosphere, hosted by the latter.