Unergy, a leading Latin American CleanTech and FinTech firm specializing in financing renewable energy assets, has unveiled its agrovoltaic projects in Colombia.
Amidst controversies surrounding the installation of photovoltaic projects on farmlands in Europe, Unergy’s mini-farms in Latin America offer tangible solutions to agricultural issues stemming from excessive sunlight exposure. The implementation of these projects reflects Unergy’s commitment to harnessing renewable energy potential while addressing agricultural needs.
Unergy’s approach entails the deployment of mini-solar farms on underutilized lands in countries with abundant solar radiation, particularly in Latin America. These projects, covering standard 2-hectare surfaces with gentle slopes, are strategically located in regions boasting high photovoltaic potential, exceeding 1,800 kWh/kWp. Notably, this initiative aims to bridge the gap in funding for the energy transition, especially in countries where governmental resources are limited.
In contrast to large-scale photovoltaic parks, Unergy’s mini-farms offer several advantages, including reduced deforestation, swift installation, and operational commencement within a mere 10 months. These factors ensure stringent cost control and an impressive internal rate of return (IRR) ranging from 7 percent to 10 percent annually.
Colombia, with approximately 22 million hectares of agriculturally suitable land, presents a fertile ground for Unergy’s agrovoltaic projects. Despite vast potential, only a fraction of this land is currently utilized, underscoring the opportunity for sustainable development through shared land usage.
By integrating photovoltaic panels into agricultural landscapes, Unergy promotes a harmonious coexistence between renewable energy generation and farming activities. These panels not only generate electricity but also facilitate agricultural practices requiring moderate sunlight exposure, such as cucurbit cultivation and small-scale livestock rearing. Moreover, they contribute to water conservation in irrigation, thereby enhancing environmental sustainability and reducing agricultural costs.
Beyond economic benefits, Unergy’s mini-farms drive social progress by fostering the growth of rural communities in emerging economies like Colombia. The company’s inaugural projects in Colombia are accompanied by support for local stakeholders, including educational institutions, agricultural cooperatives, and independent producers.
While Unergy’s model garners attention in Europe, where it serves as a benchmark for innovative renewable energy solutions, the startup continues to attract substantial investments. Each Unergy mini-farm necessitates an initial investment of approximately $1 million, generating annual net profits ranging from $150,000 to $180,000.
To date, Unergy has secured over $20 million from individual investors and initiated due diligence procedures for additional capital exceeding $100 million from private and institutional sources.
Baburajan Kizhakedath