Kenyan floating solar crowdfunding bid could again end up smelling of roses

German energy start-up Ecoligo last year successfully raised enough investment through its crowdfunding platform to finance a 75 kW solar system for the Rift Valley Roses flower farm in Naivasha, Kenya.

Now the Rift Valley business is aiming to install what Ecoligo claims would be the nation’s first floating solar project – a 69 kW system on one of the company’s two reservoirs.

Ecoligo is aiming to generate €126,000 from small scale investors willing to commit €100-25,000 using its crowdfunding platform and opened the appeal yesterday. The investment term for the project is four years with an estimated 6% annual return on offer and a 0.5% premium for “early bird” commitments made before July 19.

The floating project planned would feature German equipment in the form of 216 solar modules supplied by Solarwatt and four Kaco inverters. A Kenyan contractor has been awarded the construction contract.

Ecoligo said it expected 1,628 kWh to be generated annually from each kilowatt installed with all the power produced used by the flower farm.

Transparency notice: pv magazine is an affiliate partner of Ecoligo and contributing to the crowdfunding appeal by using the link above will trigger a donation to pv magazine.