December 3 (Renewables Now) - Spanish non-profit cooperative Som Energia SCCL on Sunday held the official opening ceremony at its 1.5-MW La Florida solar photovoltaic (PV) park, a project it financed through voluntary contributions from more than 1,600 members.
Two years ago, the group raised EUR 5 million (USD 5.54m) through a crowdfunded share issue and invested EUR 1.025 million in the La Florida project in Seville province, Andalusia. The remaining sum was distributed between the 2-MW La Matallana PV park, in operation since September 2018, and the 841-kW Tahal scheme, which is still awaiting connection.
La Florida has been operating since early November, generating enough electricity to power up some 1,000 households. Its output is estimated at around 2,600 MWh per year, the renewables-focused cooperative said Monday.
Som Energia is engaged in the production and sale of renewable power from its collectively-funded projects, which currently yield a 1.75% return on investment, according to information on its website.
In addition to crowdsourcing, the group also offers participants the opportunity to invest in shared power generation renewable energy schemes and access electricity at cost price.
(EUR 1.0 = USD 1.108)