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French platform Enerfip raises $32 million so far in 2020

Created in 2014, Enerfip has just passed a milestone: the $22 million raised to finance renewable energy production projects -ENR- and in particular the construction of photovoltaic power plants. A solid base of investors that allows the company to see further and to consider conquering the European market, where Enerfip believes it has a role to play in a solar energy sector that is set to develop strongly.



This picture shows a couple of wind turbine on a cliff.

Enerfip, the main French platform for participative crowdfunding for ENR production projects, confirms the record year 2019 and already $32 million (€30 million) of orders for 2020. Enerfip (the incubator for social and solidarity-based enterprises) has been enabling citizens to invest directly in renewable energy projects since 2016. In 2019, the start-up acted as a detonator to encourage the explosion of this booming citizen crowdfunding.

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Interest rates from 4 to 7%

Enerfip offers individuals the opportunity to become players in the energy transition by investing in projects benefiting from interest rates of 4 to 7% over terms of 2 to 6 years. “Four years after its launch, the platform has raised more than $40 million (€37 million) from the public,” said Julien Hostache, co-founder of Enerfip.

Tailor-made accompaniment

The young leader confirms the attraction of citizens in investing in NREs. To meet this aspiration, Enerfip, which raised $1.29 million (€1.2 million) last summer, has developed a specific model that involves a presence in the field: “Far from the model of an above-ground digital platform, Enerfip provides a presence in the areas where projects are set up, in order to provide tailor-made support to citizens,” he explained.

Enerfip acts against global warming by enabling residents to participate in the deployment of the energy transition near their homes. “Contrary to popular belief, investment in renewable energies is a very accessible action,” insisted Julien Hostache, who believes that Enerfip’s fieldwork, carried out by a team of about twenty people, “makes concrete progress in the fight against global warming by enabling inhabitants to participate in the deployment of the energy transition near their homes.”

$22 million for 112 projects

In 2019, Enerfip, which has made Occitania its land of excellence, has 20000 members registered on its platform, including 8000 new members: “In total, $22 million (€20.5 million) was collected during the year to help finance 112 projects, representing a total cumulative power of more than 1 GW of green energy projects,” said the leader, stressing “a strong commitment” from citizens.

Offshore wind power takes off

Enerfip has also taken advantage of the past year to become the leader in the participative financing of offshore wind energy: “2600 people have invested their savings, up to $3.2 million (€3 million) on the 3 offshore wind energy projects validated by the State (Yeu and Noirmoutier islands, Dieppe-Le Tréport and the Gulf of Lion),” reminded the platform: “Enerfip is to date the only actor to have proposed to citizens to finance offshore wind energy projects in France.”

Already $32 million for 2020

In the end, Enerfip confirmed the exceptional year 2019: “+100% of sales in 2019 compared to 2018 and an order book of more than $32 million (€30 million) for 2020 already signed,” announced Julien Hostache. Among these projects, those of the Montbartier and Maillol photovoltaic parks, located in the Tarn-et-Garonne and Haute-Garonne regions, are open to participative financing up to $691.000 (€640.000). These two photovoltaic parks will produce a total of around 14.100 MWh per year, equivalent to the annual electricity consumption of a village of 2000 people.


(Featured image by Appolinary Kalashnikova via Unsplash)

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Isaac Atwood is a PR and marketing consultant who has worked with respected names in the financial industry. He has also sat down in many sessions with startups aiming to become the next unicorn. Isaac loves working with CEOs, business executives, and entrepreneurs who wish to enter the following markets: artificial intelligence, cannabis, virtual reality, cryptocurrencies, robotics, wearable and smart tech, and even the much-hyped space race. He is currently managing the brand portfolio of an Asian firm planning for its IPO by the end of the year. While his engagements have taken him around the world, Isaac is proud to call Toronto his home.