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Unergy Raises Capital to Finance 20 Solar Energy Projects in Colombia

The fintech company Unergy received $5 billion Colombian pesos (equivalent to US$1.3 million) from among 1,000 investors to promote clean energy.

Don't worry, we speak : Español (Spanish), too!

Medellín-based Unergy has raised $5 billion Colombian pesos (approximately US$1.3 million) to finance 20 solar energy projects. 

This fintech was born in 2020 from the hands of Eduardo Andrés Ospina Serrano, Nicolás Villegas and Paola Santiago. The goal of the financing company has been to encourage people to find options to invest in clean energy and sustainability.

Nearly two years into its existence, this would be Unergy’s second capital raising. In September 2021 it raised US$200,000 in a pre-seed round, according to Crunchbase.

Colombia, Unergy, and Clean Energies

Colombia’s Mining and Energy Planning Unit (UPME) mentioned in a report that 67% of the energy consumed in the country is inefficient. This represents between US$6.6 and US$11 billion in cost overruns for Colombia due to inefficient equipment and technologies.

Another of Unergy’s objectives is to promote a more efficient and sustainable type of energy at a lower cost. Thus, by promoting some previous projects, companies have been able to reduce their costs by 20% to 30%.

With the new capital, more than 3,067 solar panels have been installed in Antioquia, Norte de Santander, Costa Atlántica, Bolívar, Cundinamarca and Sucre. They have already generated more than 770,000 kWh of energy, avoiding more than 280,000 kg of carbon dioxide (CO2) emissions.

Eduardo Andrés Ospina, CEO of Unergy said in a statement that they have already had success stories in projects such as the Obelisco, Nuestro Atlántico, Ecoimagen, Los Coches and Pola Pub, to mention a few.

The latter stands out because it is the first brewery in the country to use solar energy in the entire production process. 

The Pola Pub plant installed 253 solar panels in Tocancipá. They did so with a little more than $300 million Colombian pesos in less than four months (about US$78,773). This is expected to generate around 2,192 MWh and avoid 883 tons of CO2 over its lifetime.

Now, by the end of 2022, Unergy will seek to finance projects in Colombia, Brazil and Panama with US$20 million. Another of its goals is to launch a product to receive investments and make it profitable through cryptocurrencies.

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