This ‘dark green’ energy efficiency fund, advised by Solas Capital AG, agrees with Capital Energy to financially support the development of C&I self-consumption facilities in the Iberian Peninsula. This alliance will allow Capital Energy to offer an easily accessible solution to its commercial and industrial customers in Spain and Portugal through power purchase agreements (PPA). The implementation of customized photovoltaic installations will not only allow customers to reduce the amount of their bill by around 30% on average, by replacing network consumption with clean energy produced ‘on site’, but will also reduce by more than 20% its CO2 emissions.
Solas Sustainable Energy Fund ICAV (SSEF), advised by Solas Capital AG – based in Zurich, Munich and Dublin -, has signed a framework agreement with renewable energy developer Capital Energy Holding S.A.U (Capital Energy) to financially support the offer of Capital Energy photovoltaic solar self-consumption products for commercial and industrial clients in Spain and Portugal. The first to benefit from this funded solution are a well-known provider of tourist apartments located near Malaga and a large agro-industrial company from the Canary Islands.
Capital Energy offers a comprehensive value proposition to its clients, from the initial evaluation to the operation, warranty and maintenance of solar photovoltaic systems. By leveraging its market-leading capacity, scale and expertise, it provides a long-term product designed to deliver worry-free energy to its customers. The agreement with SSEF allows the Spanish company to integrate a financing solution into its product, thus promoting the democratization of the energy transition. During the term of the PPA, Capital Energy will be responsible for the continuous operation and maintenance of the solar photovoltaic installation and, once it ends, the clients will retain ownership of the installation.
The implementation of customized photovoltaic installations will not only allow customers to reduce the amount of their bill by around 30% on average, by replacing network consumption with clean energy produced ‘on site’, but will also reduce by more than 20% its CO2 emissions.
This strategic alliance between SSEF and Capital Energy plays a fundamental role in connecting institutional investors with small-scale decentralized energy projects, offering structured financing solutions to drive sustainable development and innovation in the commercial and industrial sector in the Iberian Peninsula and contributing to reducing the gap in this area, by providing funds for green projects where it is needed most.
The agreement further strengthens SSEF’s position as an expert provider of bespoke finance, partnering with another market-leading Energy Services Company (ESCO) to deliver tangible sustainability outcomes and continue to underpin its competency in this role. Solas Capital AG, in close collaboration with ESCOs, remains committed to the development of new financed products to drive energy savings in homes and businesses.
Commenting on the signing, Sven Degens, partner at Solas Capital AG, stated: “Solas Capital is pleased to collaborate with Capital Energy to support the growth of its photovoltaic self-consumption initiative. Cooperating with such an established and experienced partner that is still highly innovative is a great opportunity for SSEF. Capital Energy’s highly competent and experienced team is well positioned to deliver a strong pipeline of projects in the coming months and years. “We are sure that together we can contribute to the transformation of energy consumption in the C&I sector in Spain and Portugal.”
For his part, Javier Gallardo, director of Self-consumption at Capital Energy, has assured that “we consider that self-consumption is essential to guarantee that the industry’s production is sustainable and competitive in the current environment. For this reason, at Capital Energy we see it necessary to offer solutions such as this self-consumption PPA, which helps our clients to have accessible, environmentally friendly energy solutions that allow them to face the challenges of tomorrow. In this sense, Solas Capital’s understanding of our business model has allowed us to offer a financing solution for our clients that meets their needs and, at the same time, provides them with the possibility of achieving their decarbonization objectives with two companies of recognized prestige.”
Finally, Sebastian Carneiro, CEO of Solas Capital AG, indicated that, “as a dark green fund, it is crucial for SSEF investors that we deliver not only an attractive risk profile and fixed income distributions, but also real, measurable environmental impacts. and significant. “Our partnership with Capital Energy achieves this, by providing a stable and diversified portfolio of projects in the Spanish and Portuguese markets, which will lead to an immediate reduction in grid-related carbon emissions.”
