Successful crowdfunding for a 44 MW solar park in The Netherlands

7/1/19, 11:02 AM -

Almost 100 Dutch residents have invested in one of the largest solar farms in the Netherlands, raising EUR 250,000 in just six weeks as part of a successful crowdfunding campaign.

44MW Budel solar farm was developed in collaboration with the Dutch province of Noord-Brabant and the community of Cranendonck, and is built on land previously used by the Nyrstar zinc smelter.
44MW Budel solar farm was developed in collaboration with the Dutch province of Noord-Brabant and the community of Cranendonck, and is built on land previously used by the Nyrstar zinc smelter.

The funds, raised through Rabo&Crowd (a joint initiative between Rabobank and Nxchange), are to part refinance the 44 MW Budel solar farm, which already provides clean power to the equivalent of 12,500 homes, after being connected to the grid in November last year.

With investments starting from EUR 500, the 96 new investors are made up of local residents of Cranendonck and members of the wider Dutch public, who can expect to receive interest payments every six months over a five-year term in exchange for their contribution. They join owners Encavis AG, an independent power producer, and Solarcentury, the global integrated solar power company, in addressing climate change and accelerating the transition to renewable energy in the Netherlands.

Opportunity for the public to invest in a low carbon future

Evert Vlaswinkel, Benelux General Manager, Solarcentury said: “The energy mix in the Netherlands is evolving every day, with solar becoming an increasingly popular choice for both investors and the wider public, thanks to the falling cost of new solar technology and growing demand to tackle the global climate crisis.

“As the Netherlands further develops its solar capacity, Budel solar farm is a great example of what can be achieved on a national scale; both in terms of producing significant amounts of renewable energy for the grid, while creating exciting opportunities for the general public to contribute to their country’s clean energy transition. This is just the beginning of opportunities for the public to invest in our low carbon future."

Solar as attractive opportunity for consumer investment

Marcel Gerritsen, executive vice president Strategy & Innovation Rabobank, added: “This solar farm really exemplifies our mission at Rabobank: Less impact on nature, grounded in society – ‘growing a better world together’. We are incredibly proud of this crowdfunding campaign, which not only demonstrates the opportunity solar provides for consumer investment, but also the public appetite for positive investments that deliver good returns while benefiting society and the environment.”

Close regional and local collaboration

Dierk Paskert, CEO of Encavis AG added: “We are pleased to show our commitment to the Dutch Energiewende by investing in Budel, the largest solar farm in our portfolio so far.” The project was developed in collaboration with the Dutch province of Noord-Brabant and the community of Cranendonck, and is built on land previously used by the Nyrstar zinc smelter. Greg Belland, General Manager Nyrstar Budel said:  “We're proud to support one of the largest solar parks in The Netherlands. Besides the fact that we are one of the most energy efficient smelters, this park demonstrates our wider commitment to the transition to a sustainable future.” (HCN)

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