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Contxto – Have you ever heard of photovoltaic power plants? Don’t worry; I hadn’t either until I learned about Inti Tech’s recent undisclosed investment round led by Engie Factory, Alaya Capital Partners, and Albi Investments.
Also known as solar parks, the Chilean startup has developed a self-operating robotic dry cleaning system for these energy facilities. Not requiring any water, many hail this technology as a sustainable means to maintain alternative energy sources.
Since most photovoltaic grids exist in arid climates where water tends to be scarce, this system is certainly conducive to the geographic circumstances. Plus, these properties tend to be massive, so the more efficient the system, the better.
On top of the equity financing, this capital injection also came with some valuable consulting. This included the drafting and negotiation of shareholders’ agreement, capital increase resolution, shares purchase guidelines, among others.
Funding will reportedly go towards allowing Inti Tech to develop its first batch of 100MW-powered devices in the region. Higher operating capacities should ensure better coverage in the area.
Solar industry in Latin America
Besides Inti Tech, other Latin American startups are developing sustainable energy solutions. Simply take a gander at what SolarLatam recently accomplished at Raízen Impulse.
The Panamanian clean energy startup won US$5,000 at the event for its digital platform. Active in Panama, Argentina, and Costa Rica, it allows Latin Americans to invest in holistic solar energy solutions for self-consumption.
Even aligned with cryptocurrency, Belinus from Chile has developed a SolarToken to further commercialize solar energy throughout Latin America. Based on past coverage, each token will allegedly equal one kilowatt per hour of renewable energy, operatable through the Ethereum network.
On a more futuristic utopian level, there have even been proposals by Italian designer and architect, Stefano Boeri, to build a self-sustaining ecological city in Cancún, Mexico.
Although these initiatives may sound like a science fiction novel, I hope to see more investments in this growing sector. This is all on top of the financial incentives due to high gasoline prices, so for many, this will soon be a means of survival.