SunVest post event press release
Home owners and commercial building owners will be glad to know that you can now crowd source for your solar PV roof with SolarPVExchange’s SunVest platform, which is the first Asia-Pacific Solar Crowd Sourcing Platform.
“SunVest is about Investing in the Future Together and is the only platform in Asia-Pac where building owners who want to save on their electricity bill by going solar can now crowd source for their solar PV installation while investors (through a joint leasing agreement) can help fund such projects with as little is S$50 and expect good and frequent payouts every June and December.” Rob Khoo, Managing Director, SolarPVExchange Pte Ltd.
SolarPVExchange’s SunVest was launched on 28 May 2015 with 2 Singapore-based solar projects up for crowd sourcing and the building owners were also present to witness their solar pv projects being crowd sourced by the pre-registered guests, which were made up of PMEBs, solar installers and SERIS (Singapore Energy Research Institute of Singapore.
The concept is a simple one, where information such as the Internal Rate of Return (IRR), the Projected Payment Schedule and Target Amount on the 2 projects were given to the attendees and they were then invited to invest in either or both of the projects via the investment booths.
The attendees could also speak to the building owners to find out more about why they wanted to go solar and then based on what their assessment, they could then decide if they wanted to help crowd source for either of the projects.
Within 20 minutes, one of the projects (with a target amount of S$30.5K) was fully funded with an IRR of 5%. Solar Projects in Singapore listed on Sunvest need to meet a minimum of 4% IRR before they can qualify, while those in Thailand and Australia will need to meet a higher minimum IRR before they can listed.
“The concept is excellent. I am thrilled to know that my project is fully funded, this means I get significant savings for utility with investments from others. It’s a win win for both parties…” Cindy Chan, a home owner whose solar PV roof was fully funded at the launch, when asked what she thought of the SunVest Concept.
For the attendees, it was also a chance for many of them to help play their part to go green by investing in renewable energy or more specifically, someone else’s solar PV roof with as little is S$50. Everyone can do their part.
“The information provided was interesting for me as a potential investor. The layout is easy to understand and the dictionary of terms was very helpfuI. I will consider being an initiator but I think I would much prefer to invest in solar projects in the future” Nadjib Missoum, 28, manufacturing engineer.
http://www.solarpvexchange.com/files/press/2/SunVest_EventPressRelease.pdf