Crowd welcomed to fund RP Global's 400-MW solar project in Spain

• Spanish crowdfunding platform Fundeen on Monday launched a possibility for citizens in Spain to invest in a 400-MW solar PV project that Austrian renewables developer RP Global is working on approximately Murcia.

Fundeen and also RP Global are hoping to raise EUR 450,000 (USD 481.760) to aid the independent power producer (IPP) bear some of the costs of development and building of the Carril Solar plant in Spain's south-east area.

The opportunity was first extended to residents living next to the project site. Since Monday, people from elsewhere in Spain can sign up with the financing campaign, Fundeen stated.

The possibility closes on May 30. Since Tuesday morning, the project raised near EUR 139,000, according to Fundeen's website.

Fundeen itself added EUR 5,000 in the direction of the project.

Investments from people will certainly be dealt with as a loan, which will certainly carry an annual return of 5% to 6% and accrue interest every six months from the moment of disbursement. RP Global is the guarantor of the loans.

Considering That the Carril Solar project is still in growth, there is danger that the marketer will certainly not be able to safeguard all licenses and will have to repay the loan early, Fundeen added.