sunvigo receives 15 million euros in debt financing
Marc Nemitz
| 10.01.2024
sunvigo sets course for further growth with €15 million financing from Triodos Bank: A step towards establishing a Europe-wide solar power community
Cologne - sunvigo, a Cologne-based energy company, has received €15 million in financing from Triodos Bank. This additional capital injection extends the existing loan of 19 million euros and is intended to further develop sunvigo's model for solar installations.
The funds will be used to finance solar installations, electricity storage and charging stations for electric vehicles. The first tranche of financing amounts to 15 million euros, with plans for deeper cooperation in the coming years.
The collaboration with Triodos enables us to further accelerate the expansion of our virtual power plant of rooftop solar installations
Dr. Michael Peters, Co-Founder and Co-CEO of sunvigo
The startup was founded in Cologne in 2020 and aims to build a Europe-wide solar power community. sunvigo offers homeowners the opportunity to obtain solar systems without any initial investment. Through a monthly installment for the system, storage and charging infrastructure, solar power is offered at a fixed price that is lower than current electricity prices. The company takes care of the planning, installation and maintenance of the systems.
With our investment, we are pleased to contribute to the further expansion of solar systems and thus the decentralized energy transition in Germany.
Maximilian Klein, Relationship Manager at Triodos Bank
Customers can choose between a fixed tariff and a dynamic tariff with exchange prices for their remaining electricity requirements. A 20-year price guarantee protects them against fluctuations in electricity prices. With the dynamic tariff, they can also benefit from low exchange prices.
The legal advice for sunvigo was provided by the Munich law firm DMR Legal. They supported the company in the legally compliant presentation of its innovative financing model.
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Startup
2020
Köln
Sunvigo
Providers of solar systems in combination with electricity contracts.
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