Crowdfunding money raised for 9.6 MWp of solar in Spain

Spanish crowdfunding platform Fundeen announced on Monday that it has closed the financing campaign it organised to support 9.6 MWp of solar projects on the island of Mallorca.

The company said it was able to secure roughly EUR 1.62 million (USD 1.68m) from the citizenry of Spain, making it the largest amount ever raised via the Fundeen platform.

The crowdfunding campaign for the Mallorca projects started in March this year. A total of 288 investors participated, with the majority contributing amounts between EUR 1,000 and EUR 5,000, Fundeen said.

The platform raises funds for renewables development and enables citizens to invest as little as EUR 500.

In this round, citizens were able to invest in the 4.56-MWp Son Sunyer and the 5.08-MWp Las Andrevas solar photovoltaic (PV) projects that German developer Enerparc AG is promoting on the Mediterranean island.

People living in municipalities that will host the solar farms were able to invest first during a 15-day window. The opportunity was then open for residents of neighbouring municipalities for the next 15 days, and since May 5, any resident of Spain was given the chance to participate. Fundeen is currently raising funds for a solar farm project in the Spanish region of Murcia using the same approach.

(EUR 1.0 = USD 1.042)

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