A German crowd investing platform for green energy is looking to further expand in Southeast Asia after most recently acquiring a Thai solar project.
Ecoligo bought SEA Rooftop Solar, the Thai solar subsidiary of German utility giant RWE, in December. With the deal, whose price has not been disclosed, Ecoligo obtained SEA’s only project, a solar installation on the roof of a metal fabrication factory in Chon Buri.
In turn, Ecoligo is giving backers a chance to buy into an environmentally friendly project and receive an annual return of 5%. Xcellent, the factory owner, expects to cut its energy bills by 15-20% under a 20-year power purchasing agreement with Ecoligo.