In July 2016, we successfully crowdfunded S$300k in less than a week for a Singapore commercial solar Photovoltaic (PV) project through SunVest.
We began crowdfunding for the S$300k on 8 July 2016 and gave ourselves a month to meet this target. Much to the surprise of everyone, the target was reached in just 6 days, with many of our dear green investors rushing in on the 6th day (12 July), to secure their investment in this commercial solar PV project.
We at SolarPVExchange extends our deepest gratitude to the 11 Green (environmentally conscious) Investors who heard about the project through the platform and friends and decided to participate in this crowdfunding project, which will help Singapore’s cause in lowering our carbon footprint.
“We are glad that our green solar PV projects are gaining traction, not only with the media, corporates and also the man on the street. Also, we see many more crowdfunders with special interest in funding green projects, and SolarPVExchange is glad to be part of the group to spread the “Green” message to our community, and it helps that the interest rate is pretty attractive too.” Rob Khoo, Managing Director (SolarPVExchange)
By crowdfunding this 173.25 kilowatt-peak solar PV system located at Yeo Hong Construction & Engineering P/L premises at 20 Gul Crescent, Singapore will further reduce its carbon footprint by 81.82 tonnes of CO2 over a period of 25 years.
Not only that, the 11 green investors will also a get a 7% interest on top of their principal at the end of 1 year which will mature in July 2017.
TARGET AMOUNT: S$300K
To raise S$300k for the purchase of products needed for the solar PV project.
ABOUT THE ISSUER: SUNSEAP
Sunseap is the first and largest solar leasing company in Singapore. It has won many significant projects such as Apple, HDB, Jurong Port, Panasonic, Straits Construction, Singapore American School, Ng Teng Fong General Hospital, Mencast Holdings, ABB, United Technologies Companies, Cambridge Industrial Trust, to name a few.
SOLAR ADOPTER: YEO HONG CONSTRUCTION & ENGINEERING
For this solar PV system, Sunseap will be building it on Yeo Hong Construction & Engineering Pte Ltd. Founded in 1973, Yeo Hong started off as Yeo Hong Contractor Company, a sole proprietor company with just a small office space in Tiong Poh Road. Even back then, they are already the in-house contractor for several companies in the marine and process industries. By going solar with Sunseap, this will not only reduce the electricity bill for Yeo Hong Construction & Engineering but also reduce its carbon footprint as well.
SolarPVExchange provides a unique renewable energy crowdfunding platform by enabling both building owners (who wish to go green with renewable energy system like Solar) and crowdfunders (Green Investors) to connect and crowdfund the renewable projects. SolarPVExchange also provides the necessary information for building owners so that they make an informed decision when it comes to their renewable projects.
In the long run, we hope to positively impact our environment by leveraging on technology, and sustainable renewable energy solutions together with the crowd.
SolarPVExchange is currently in talks with overseas solar PV projects and a few other local residential and commercial building owners for the next Green crowdfunding campaign, so stay tuned.
To learn more about Solar PV projects, please contact :
18 Boon Lay Way, Tradehub 21
#06-143, Singapore 609966