In April 2016, we at SolarPVExchange, together with our crowd funding partner CoAssets (Southeast Asia’s first public listed crowdfunding site with offices in Singapore, Australia, Malaysia, China and Indonesia) successfully crowd-funded (which we like to call SunVest’ed) for the first ever Solar PV project in Singapore.
In fact, in less than a month, we managed to crowd fund more than the target amount of S$300k needed for the Solar PV system under Sunseap Leasing Pte Ltd.
This marked the first successful crowd funding campaign for a solar PV project in Asia (and possibly in the world).
About the project:
The system has a 202.125 KiloWatt-peak capacity and is built on an existing roof.
It all started on March 4th … when we launched the crowd funding campaign online and the target was to raise S$300k in a month.
The premise was simple: invest in the project for one year and receive 7% interest on the amount invested, where the principle and interest are repaid to the individual’s bank account upon maturity.
In less than 3 weeks, we managed to raise 47% of the amount needed and that was primarily because investors were all trying to understand how it works and that took a bit of explanation (and some TLC from our SunVest consultants) to the potential investors. We’d like to take this opportunity to thank those of you for your time to make the journey to see us at our office and to talk to us.
So there was still a balance of 53% (or more than S$150k) to raise in the final week of this SunVest round and we were getting kind of nervous, to be honest.
Well, I guess, like the saying goes, if you have a good product, the customer will come, and true enough, by April 1st (2 days before the closing date), we managed to fully SunVest (crowd fund) the project and hit our S$300k target with investors coming fast and furious.
In fact, in the final 2 days, we had many investors who came with investment and also enquiries and resulted in the project being Over Funded. Some made it in time while some didn’t, though we assured them that we will inform them as soon as possible once the next SunVest project is up.
Anyway, we achieved our target and successfully SunVest’ed (crowd funded) the first Solar PV project in Asia and this was all due to the help of our investors and partners. Many thanks.
We also took some time to speak to one of our investor, Mr Yeo on what he thinks about our SunVest, crowd funding for solar PV project.
SPVX: Why did you decide to invest with us?
Mr Yeo: A friend recommended this SunVest project to me. The investment had a pretty good return rate of 7% and the risk in the investment was rather low.
Also, this was a perfect opportunity to invest in a project, which allows me to achieve relatively good returns while helping to save the earth.
SPVX: Do you feel the investment is safe/secure?
Mr Yeo: Yes, I did research on the company and found it as a well-established solar firm with many big investors behind it, thus the risk of defaulting was low.
SPVX: Besides this, we are sure you have other investments, could you share with us?
Mr Yeo: Yes, I also have an investment plan and dabble in some other stocks/shares.
SPVX: Thanks Mr Yeo.
About the Solar PV project:
Now, for those of you who have invested in the project, we have photos of the solar PV system that was installed on the premises for your viewing pleasure:
Well, there you have it, Singapore’s first crowd funded Solar PV project.
There will be lots to come and if you’d like to be part of the green revolution and be informed of future SunVest projects, do register here as an investor: http://solarpvexchange.com/index.php/investor/registration
Next, our latest SunVest Project:
Good news! Following up on the success of our 1st SunVest Project, we have another SunVest project for crowd funding and is done in collaboration with CoAssets.
About the Project:
Sunseap recently signed a deal with Enlighten Furniture Decoration Co. Pte Ltd to supply its 3 Loyang Way 6 facility with clean energy over a period of 20 years. Sunseap will install a 142.59 kiloWatt-peak (kWp) system at the facility, and enable Enlighten Furniture Decoration Co. Pte Ltd to save over 82 tonnes of CO2 annually.
The amount to be raised is S$270,000 and it is a 1-year tenure with an annual interest of 7%, with a balloon payment structure where the principle is repaid together with the interest upon the maturity date. Minimum investment amount starts at a minimum of S$3,000 per investor.
SunVest for this solar PV project will start officially online on 4th May 2016 & End Date is on 24th May 2016 (2359H)
For all of you (SolarPVExchange’s investors and subscribers), you can pre-register your interest and pre-book your investment by emailing your name, contact and investment amount to firstname.lastname@example.org
Help the world go green by SunVesting in Green Sustainable Projects.