200-kWp project combines ethical financing and cutting-edge technologies to bring economic benefits to low-income tenants
The systems were financed through the UPINVEST investment vehicle, pooling €510,000 from Upsolar Europe and sponsor Nouvelle Economie Fraternelle (la Nef), a France-based financier specializing in ethical business, social economy and clean technology.
The project features a combined 927 Upsolar modules with Schweizer's Solrif® frames, which allow for a streamlined installation process and better rooftop aesthetics. The building-integrated design helped the systems to qualify for the first-tier feed-in-tariff rate of 0.2851 €/kWh.
"We are proud to power a project that brings economic benefits through clean solar energy to those who need them most, helping to safeguard tenants from rising rents," said Jeremy Amram, Business Development Manager for Upsolar Europe SAS. "In collaboration with a respected, forward-thinking organization like la Nef, we were able to overcome the upfront financial barriers to a project of this scale and build 25 high-quality energy assets."
The systems are also equipped with SolarEdge power optimizers, maximizing output, enhancing safety and enabling real-time monitoring. Over the lifetime of the systems, this project is expected to offset approximately 72 tons of CO2.
"Upsolar's commitment to the environment and its support for the local community are perfectly aligned with our corporate mission, making them the ideal company to sponsor for this project," said Romain Donnedieu, Regional Delegate of Company Finance for Nouvelle Economie Fraternelle Paris. "UPINVEST is impacting lives for the better, one rooftop at a time, and we are thrilled to be part of this noble initiative."
Upsolar also funded 164 PV systems for the social housing project Mistral Habitat, located in the south of France, through its REZISUN 2 investment vehicle. For increased comfort and energy efficiency, tenants were offered a rooftop evaluation and repair when needed at no extra cost. The company is actively looking for additional projects in this area.
Upsolar is a leading international developer and producer of high quality solar PV modules at competitive prices, ensuring secure long-term investments for our customers around the world. By utilizing a fables, asset-light business model and top-tier module components, Upsolar is able to stay ahead of the demand curve and offer innovative, tailored PV technologies to meet customers' varying performance and aesthetic needs. All Upsolar modules are covered by industry-leading product warranties and performance guarantees, including third-party coverage options. To date Upsolar has sold more than 1 GW of PV modules worldwide. For more information visit www.upsolar.com.
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About Nouvelle Economie Fraternelle (la Nef)
Nouvelle Economie Fraternelle is a financial cooperative that provides savings and credit solutions for projects with a social, ecological and/or cultural purpose. Established in 1988, it is authorized and regulated by the French Prudential Supervisory Authority (ACPR), as a Specialized Credit Institution. Demonstrating its commitment to a transparent process, the la Nef is the only French bank that accounts for all funds made each year with the money entrusted by its shareholders and investors.
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