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neoom ag receives up to EUR 30 million from Solas Sustainable Energy Fund ICAV and EUR 5 million from BAWAG Group to finance decentralised solar storage power plants in Germany and Austria.
The financing
Solas Sustainable Energy Fund ICAV, advised by the Zurich, Munich and Dublin-based Solas Capital based Solas Capital AG ("Solas"), signed a framework agreement in the first round for 20 million euros with neoom Impact Invest as financing partner.
BAWAG Group is one of the largest banking groups in Austria and is based in Vienna and will initially focus together with us on business with private customers in Austria, while Solas will also support us in the development of the innovative hire purchase product neoom REENT in the commercial sector and especially in Germany.
The projects financed as part of these investments play a key role in achieving the decarbonisation and in achieving the decarbonisation and energy efficiency targets in Germany and Austria. The investments will enable neoom to offer the complete turnkey solutions for the implementation, installation and management of decentralised solar storage power plants with the hire-purchase product neoom REENT.
We are excited to announce the establishment of a robust and long-term relationship with neoom. Throughout the process, we have experienced the professionalism in neoom’s conduct of business and the team’s enthusiasm for its mission. We are happy to facilitate neoom’s growth, which will move the energy transition forward, resulting in lower greenhouse gas emissions and reduced cost of energy for its clients with every project. Supporting neoom reflects perfectly what we want to achieve at Solas Capital.
Our collaboration with neoom will not only facilitate must-needed energy transformation within Germany and Austria, but also represents an attractive proposition for investors. The diversified portfolio of B2C and B2B projects mitigates investor risk and provides stable long-term cashflows. Furthermore, we are delighted to be financing SSEF’s first projects in Austria together with neoom, further diversifying the fund’s geographic reach.
We at BAWAG Group are proud to support the financing for neoom's Impact Invest business unit. Our collaboration underlines both companies' commitment to promoting sustainable energy projects and accelerating the energy transition in Austria. By providing a financing we enable neoom to offer customised financing solutions for private households that facilitate the transition to decentralised energy systems. This fits perfectly with our strategy of supporting innovative and sustainable projects that make a positive contribution to our society and environment. We look forward to continuing this successful partnership and working together to have a significant impact on the future of energy supply in Austria.
neoom REENT
The all-round carefree package neoom REENT enables both our private and commercial customers to benefit from the advantages of a solar storage power plant without any financial hurdles.
The solar storage power plant is planned and constructed individually according to the requirements of the business. neoom REENT is also a financing option and all-round carefree package. With a fixed monthly instalment over the term of the contract, decentralised energy systems are made accessible to everyone. The surpluse energy produced by the system helps refinancing the system from the first day of operation. During the term of the contract, neoom takes care of maintenance with the respective regional system partner, and the system is also insured against damages. Once the last instalment has been paid, the system becomes your property.
With a neoom solar storage power plant, around 80% of the energy costs can be saved compared to conventional energy generation. In addition, neoom's digital skills can be used to achieve 100% of cost savings and even generate additional income.
This collaboration not only expands our ability to offer innovative, fully financed and turnkey solutions for decentralised solar storage power plants, but also strengthens our commitment to promoting energy efficiency and decarbonisation in Germany and Austria.
Über Solas Capital AG
Solas Capital is a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector and based out of Zurich, Munich and Dublin. Through the development of innovative financing solutions Solas Capital’s mission is to support the move to a carbon-neutral society. By understanding both the funding needs of energy efficiency project developers and the requirements of institutional investors, Solas Capital bridges the funding gap between investors and projects. Solas Capital is the investment advisor to the Solas Sustainable Energy Fund ICAV, which is supported by the Munich Re Group, the European Investment Bank, and the LIFE Programme of the European Commission.
Über BAWAG Group AG
BAWAG Group AG is a listed holding company based in Vienna, Austria and serves 2.1 million private, SME, corporate and public sector customers in Austria, Germany, Switzerland, the Netherlands, Western Europe and the USA.
