Crowd invited to fund RP Global's 400-MW solar project in Spain

Spanish crowdfunding platform Fundeen on Monday launched an opportunity for residents in Spain to invest in a 400-MW solar PV project that Austrian renewables developer RP Global is working on in the region of Murcia.

Fundeen and RP Global are hoping to raise EUR 450,000 (USD 481.760) to help the independent power producer (IPP) bear some of the costs of development and construction of the Carril Solar plant in Spain’s south-east region.

The opportunity was first extended to residents living next to the project site. As of Monday, people from elsewhere in Spain can join the financing campaign, Fundeen said.

The opportunity closes on May 30. As of Tuesday morning, the project raised close to EUR 139,000, according to Fundeen’s website.

Fundeen itself contributed EUR 5,000 towards the project.

Investments from citizens will be treated as a loan, which will carry an annual return of 5% to 6% and accrue interest every six months from the moment of disbursement. RP Global is the guarantor of the loans.

Since the Carril Solar project is still in development, there is risk that the promoter will not be able to secure all permits and will have to repay the loan early, Fundeen added.

(EUR 1.0 = USD 1.071)

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