In addition to the existing loan volume of 19 million euros, the energy company Sunvigo has won Triodos Bank to refinance its solar system model. With additional financing of initially 15 million euros, the Cologne-based company wants to accelerate its growth path in 2024. It therefore wants to expand its business model, which consists of enabling homeowners to have a solar system without any purchase costs. The sustainability bank Triodos supports, among other things, projects in the areas of renewable energies, organic farming and sustainable real estate.
Sunvigo offers solar power from your own roof at a fixed price in combination with a monthly rate for the photovoltaic system, storage and wallbox. According to the company, the fixed price is only about half as high as the current electricity prices. Customers don’t have to worry about anything. Sunvigo takes care of all steps from planning and installation to maintenance and operates the PV system for the customers. Since November, customers have also been able to choose between a fixed and a dynamic tariff with exchange prices for their remaining electricity needs. Thanks to Sunvigo's price guarantee, customers are protected against electricity price fluctuations for over 20 years and can also benefit from low exchange prices with the dynamic tariff.
“The collaboration with Triodos enables us to further accelerate the expansion of our virtual power plant of rooftop solar systems,” says Michael Peters, co-founder and co-CEO of Sunvigo. “Our vision: We are building a Europe-wide solar power community and democratizing access to digital, more decentralized and 100 percent renewable energy. Triodos Bank supports us as an innovative and financially strong partner,” says Peters.
Sunvigo received legal advice from the Munich law firm DMR Legal. With their experience with structured financing, Sunvigo's financing model was able to be mapped out in a legally secure manner.
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