• This investment enables ecoligo to supply solar energy to more companies in emerging markets

Berlin, Germany – Abdul Latif Jameel Energy has announced through FRV-X, the innovation and venturing division of global renewable energy business Fotowatio Renewable Ventures (FRV), a US$9.7 million investment in ecoligo, a Berlin-based company that is supporting the energy transition in the global south. Since 2016, ecoligo has been implementing energy-as-a-service projects financed by investors who are interested in both impact and return on investment. ecoligo has implemented 169 projects with a total output of 82.4-Megawatt peak (MWp) in emerging markets across three continents to date, where energy demand is quickly rising compared to major industrialized nations.

ecoligo will use the investment sum to continue to grow sustainably, expand existing markets, and effectively contribute to the global energy transition. Additionally, ecoligo intends to further develop its digital impact investing platform and offer more investment opportunities in its projects across the world.

The success of the global energy transition is dependent upon the inclusion of emerging markets. However, there is often a funding gap for solar projects in these countries which makes access to financing from traditional sources more difficult. Therefore, ecoligo offers full-service energy solutions including planning, construction, maintenance, and the financing of the plants using crowd investing.

Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel said: “Our investment in ecoligo comes in line with our commitment to support innovative business models in the renewable energy sector whilst still delivering a positive impact. Both FRV-X and ecoligo share the same vision of democratizing the energy transition and creating a clean future for people around the world, and in particular, those in the global south. We will continue to look for opportunities to make impact-driven investments that support our efforts in initiating, driving, and maintaining the green energy transition.”

Felipe Hernandez, Managing Director of Engineering at FRV-X said: “With its focus on commercial and industrial facilities, ecoligo perfectly complements our activities in the field of large-scale solar farms. Our investment in ecoligo is sustainable in two ways, not only in terms of onsite green energy production, but also the democratization of the investment in renewable assets, giving an opportunity for small investors to take part in the project's funding.”

Martin Baart, CEO of ecoligo GmbH, said: “With impact investors such as FRV-X, we have found the perfect partner to enable even more companies in emerging markets to access clean energy. Through the alliance, we will not only be able to expand our growth, but also offer more people the opportunity to contribute to the global energy transition through private investments.”

FRV is committed to leading the global transition towards a more sustainable energy future through developing and operating renewable energy projects around the world. FRV has evolved from being a utility-scale solar infrastructure developer to becoming an independent power producer (IPP), aimed at being the world's leading green energy infrastructure platform. Through this investment, FRV is expanding its portfolio to include the commercial and industrial customer segment through ecoligo's work. So far, FRV has a pipeline of more than 10 GW around five continents, including PV plants, wind plants battery energy storage systems (BESS), and hybrid and green hydrogen plants. Through its innovative projects, FRV prevents the emission of more than 1 million tons of carbon dioxide (CO₂) annually. 

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About Abdul Latif Jameel Energy

Abdul Latif Jameel Energy was established in 2012, and is now a leading independent power producer, and a premier service provider in the renewable energy sector, with interests in 16 countries around the world with capabilities in renewable energy, including solar PV, wind, waste-to-energy and environmental solutions, including desalination, water and wastewater treatment. For more information, please visit: alj.com/energy   

About FRV   

FRV, part of Abdul Latif Jameel Energy, is a leading global renewable energy development company. In line with our ambition to continue leading the global transition to a more sustainable energy future, FRV has evolved from being just a developer to becoming an independent power producer.   

We aim to be the world's leading green energy and infrastructure platform.  To achieve this strategic vision, we have accelerated our growth through the return on our activities, shareholder contributions and asset rotation through the sale of minority stakes.  As a result, the company expects to invest more than US$ 1.5 billion with the goal of doubling total installed capacity from 2 GW in 2021 to 4 GW in 2024.  For more information, please visit: frv.com   

About ecoligo

ecoligo is an impact investment provider that implements solar-as-a-service projects in emerging markets. Founded in 2016 by Martin Baart and Markus Schwaninger, the Berlin-based company is driving the energy transition in eleven countries such as Kenya, Vietnam, and Chile by implementing photovoltaic systems on company buildings. Projects are enabled by committed and environmentally conscious investors who fight the climate crisis with their targeted investments in solar projects while earning significant interest. By supplying commercial and industrial enterprises in the world's fastest growing economies with solar energy, ecoligo measurably contributes to saving harmful CO₂ and thus actively protects the climate. The fully financed solar-as-a-service projects not only bring ecoligo's customers financial savings, but also enable them to grow sustainably. The projects signed so far are going to contribute to save over one million tons of CO₂. 

ecoligo is headquartered in Berlin and has additional locations in Accra (Ghana), Nairobi (Kenya), San José (Costa Rica), Santiago de Chile (Chile), Ho Chi Minh City (Vietnam) and Mánila (Philippines).

More information at ecoligo.com.