Younergy issues green bond for solar energy
Younergy Solar AG issues a green bond of CHF 5 million. This is intended to finance new solar installations. So far, Younergy operates more than 480 solar systems throughout Switzerland and is active in Portugal, Spain and Germany.
According to a press release , Younergy Solar wants to democratize solar energy and is issuing a green bond worth CHF 5 million. Younergy’s business model is understood as democratization. The Lausanne-based company installs photovoltaic systems on the roofs of its customers and assumes the entire costs of installation, maintenance and monitoring. As a result, customers – from single-family homes to large companies – produce their own electricity without any upfront investment and instead only pay for the energy produced. When the amortization period has expired, the system becomes the property of the customer. This means that everyone can generate and use solar power regardless of their personal budget.
“We are the only ones in Switzerland that cover single-family homes as well as buildings with larger roofs. That was the key to our rapid growth,” Pedro Miranda, CEO and co-founder of Younergy, is quoted as saying. “The energy transition is mainly taking place at the local level. That’s why we want to expand this solution further,” Miranda continues. The sharp increase in energy prices and the uncertain energy supply in connection with the geopolitical situation required local supply. Electricity prices are likely to rise by more than 20 percent in Switzerland in 2023. With the Younergy solution, on the other hand, significantly lower prices are possible for private individuals and companies. The demand is therefore increasing sharply.
So far, the company, which was founded in 2015 by a group of solar energy experts at the Swiss Federal Institute of Technology in Lausanne ( EPFL ) and is funded by the Swiss Federal Office of Energy ( SFOE ), already operates 480 such photovoltaic systems throughout Switzerland.