The ‘Son Castello Solar Project’, promoted by NAIAD RENOVABLES, offers residents of Mallorca the opportunity to become co-owners of a solar plant for a minimum investment of 500€. And it will be financed by crowdfunding, through the Fundeen platform, giving priority to local residents through a system of staggered funding rings.
During the first six weeks, the investment will be limited exclusively to citizens of Mallorca, with different stages to ensure maximum local participation during the first 6 weeks of funding. This project responds to Balearic regulations that encourage local participation in the energy transition, allowing citizens to take an active part in the development of renewable energies on their own land.
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Son Castello allows investors not only to support the development of local infrastructure, but also to protect their savings from the volatility of other markets. Solar energy, with its sustained growth and public policy support, offers a recurrent and stable source of income.
With the growing demand for clean energy and the support of institutions such as the Institute for Energy Diversification and Saving (IDAE), solar plants such as ‘Son Castelló’ represent an attractive option for those looking to expand their investment portfolio. This particular project, which has a capacity of 7.9 MWp and a storage system of 6.4 MWh, ensures more consistent returns by being able to efficiently manage the energy produced, minimising operational risks.
Citizen financing, with an estimated return of 7.10% per annum over 5 years.
David Sanmartín, Managing Director of NAIAD Renovables, comments: ‘The Balearic Islands have been a benchmark in integrating citizens in the energy transition. Son Castelló' allows them to participate in a direct way, contributing to sustainability and obtaining benefits for it. It is a local project, driven by and for the community’, he concludes.
On the other hand, Nacho Bautista, CEO at Fundeen explains that: ‘These types of projects are essential for the region's energy future. Not only do they contribute to the reduction of emissions, but they also allow the economic benefits to stay in the local community. With ‘Son Castelló’, citizens can be part of a truly transformative project for the Balearic Islands’.
The intention of NAIAD renewables and Fundeen is for the investment to be mainly local. However, if the funding target is not achieved during the first phases, the project will be extended to the rest of Fundeen's investment community.