Crowdfunding launched for Soltec's 5.6-MW solar project in Spain

Spanish renewables-focused crowdfunding platform Fundeen has started raising money for a solar photovoltaic project in south-eastern Spain, targeting EUR 550,000 (USD 590,630) in total contributions from citizens and companies based around the project site.

The fundraising campaign will support the 5.6-MW Totana IV project developed by Spanish solar energy specialist Soltec Power Holdings SA (BME:SOL).

The project site is located in the town of Totana, in Spain’s region of Murcia. The funding opportunity is offered to those based less than 60 kilometres (37.3 miles) from the solar farm site, Fundeen said.

Interested parties can invest as little as EUR 500 and up to EUR 150,000 in the project. The internal rate of return for the investor has been calculated at 6.90%, Fundeen added.

(EUR 1.0 = USD 1.074)

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