GoParity, an impact investment platform based in Portugal and with more than $2.4 million (€2.1 million) of investments raised for eco and socially responsible projects, is now launching its first project in Africa. According to the president of the African Development Bank, the future of the African continent is strongly connected to the development of the renewable energy sector, that is why this project is so important.
GoParity’s new project, called SolarWood Hospital, will co-finance a renewable energy solution to be installed at Good Shepherd Mission Hospital in Siteki, capital of the Lubombo district, the poorest region of Eswatini (former Swaziland). With a capacity of 225 beds, the hospital has an occupancy rate of 130%, being the institution responsible for health services in the entire Lubombo region (which accounts for more than a quarter of the total area of Eswatini and is home to some 212,000 people).
Given its importance in the region and the difficulty to access energy, and therefore to operate the hospital, the switch to SolarWood technology will have a huge environmental impact on the region and on the lives of its population.
Currently, the hospital has an annual electricity consumption of 800 MWh from the national grid, mainly generated by coal-fired power plants (76%) and uses 300 tons of coal to heat water.
If you want to read more about the project SolarWood Hospital, which will co-finance a renewable energy solution to be installed at Good Shepherd Mission Hospital in Siteki, download the Born2Invest mobile app. Our companion app brings you the most important business news from around the world for you to stay informed.
Solar energy to replace coal
The solution will allow the replacement of coal by solar energy (PV) and certified biomass for electricity production. It will also replace coal with certified biomass for water heating. Switching to SolarWood will reduce the hospital’s greenhouse gas emissions by 70%, avoiding the emission of 1,350.3 tons of CO2 per year, the equivalent of planting 61,377 trees.
In addition, the locally generated electricity will make the hospital completely independent of the grid and ensure the stability of its energy supply – the current instability of the country’s electricity grid can compromise the quality of health services provided.
Finally, the operation will employ at least 10 women in the region and the local project manager is also a woman, in a country where the participation rate of women to men is 62.95%.
More than 42 sustainable development projects were financed on the GoParity platform
GoParity is an impact investment platform launched in 2017, focused on democratizing access to impact investments in environmentally or socially responsible projects. Since its launch, GoParity has already financed several projects, with more than 6’800 investors and 42 sustainable development projects financed.
This work has resulted in $2.4 million (€2.1 million) of investments in areas ranging from sustainable tourism to green energy, electric mobility and reforestation. The projects financed are all sustainable and socially responsible projects with a positive impact on the world.
In 2020, the company has been chosen for the 4th edition of Google For Startups Residency, Google’s growth programme for technology start-ups. It recently won the Sustainable Fast Track UK in financial services.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in allnews, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Recrowd and Spezia Calcio to Promote Crowdfunding Campaigns Together
According to the agreement, Recrowd and Spezia Calcio will work together on the promotion of crowdfunding campaigns and will study...
Candriam Launches Sustainable Bond Impact Fund
Candriam announced the launch of the Candriam Sustainable Bond Impact fund, a sub-fund of the Luxembourg-based Candriam Sustainable SICAV, which...
Crypto Exchange Bybit Launches a P2P Marketplace for Tether (USDT)
Nearly 100 different payment methods are said to be potentially available with Bybit's P2P platform, including PayPal, for example. At...
Credem Enters as an Investor in Cdp Venture’s Fin+Tech Accelerator
In fact, for Credem group, the goal is to continue the development strategy of the corporate venture capital initiative launched...
The End of a Surveillance Ads Era Brings New Opportunities With XRApplied
For years, the online world has moved faster than legislators can keep up. But that’s coming to an end—just take...
Cannabis2 weeks ago
The Largest Legal Batch of Cannabis Was Shipped from South Africa to the EU
Business2 weeks ago
NVIDIA, XRApplied: Harnessing AI to create superpowered VR and AR
Africa2 weeks ago
Natural gas: the Moroccan Government is Called Upon to Review its Copy
Crypto2 weeks ago
Bitcoin Mining Collapses Due to Protests in Kazakhstan