Greencells, a German-founded, globally active builder of utility-scale solar power plants with offices at Masdar in the United Arab Emirates announced raising EU 15 Million with its Green Bond, secured at 6.5% between 2020 to 2025. Greencells develops, builds, operates and finances utility-scale solar projects worldwide.

The proceeds from the green bond issue are intended to grow the company and power up to 130,000 households with green energy, mainly in Europe. Raising public money through bonds is gaining popularity now that bank rates hover at about nothing. Meaning if you leave money in the bank you will lose money over time from inflation. 

Greencells has a model like RE Invest in Canada. To raise bonds from the public. In the olden days, when solar energy started picking up interest around 2005, venture capitalists jumped in and it was hard for non-accredited investors to invest in solar – unless you offered a roof.

Some earned enormous profits from attractive feed-in rates offered by governments, others like entrepreneurs David Anthony from 21Ventures committed suicide when his ventures tanked in 2012. Here is a guest post from Anthony written to Green Prophet in 2009. 

Over the years the entrepreneurs making the most money are the ones who make the inverters. SolarEdge, a company from Israel and who I have interviewed many times, always seem to get marketing and business right, and they are doing very well in the last year. 

With 15 years of experience and proven success of solar power plant builds and infrastructure, German and Australia are becoming clear winners. 

Germany according to PV Magazine almost 50% of German’s energy was created by solar power this year. It is unfathomable that the Middle East hasn’t figured this out. But some of Greencells builds are in the Middle East. Like anything today, solar energy is a global village. It takes a global team to make a build. 

According to Greencells they will expand by building a sister company with the raise, and they plan a further raise on the Frankfurt Stock Exchange, of up to EU 25 Million.

“We would like to thank all investors for the trust they have placed in our company and our growth strategy by subscribing,” said Andreas Hoffmann, CEO of Greencells.  “And what makes us particularly confident for further private placements in the coming months: The capital market also shares our opinion that our own as well as the sector-specific growth, prospects in the solar market are absolutely intact.

“We have shown that even in Corona times many investors want to join us on the path to sustainable development – that was our goal. We start exactly where it is important for the climate: with projects for renewable energy production based on solar energy, the world’s cheapest energy source.” 

A successful partnership with Nordic Solar in Poland will also contribute to further growth of Greencells. After a photovoltaic portfolio of 6 MWp was successfully realized in  Nowogard in 2019, a contract for a 38.5 MWp photovoltaic portfolio located at various sites throughout Poland has now been signed.

In the coming years, Greencells will focus primarily on the European market. As a  result of the outcome of the presidential election, the USA will focus more strongly on climate protection again under new leadership. This will create further very attractive opportunities in the short term, which the company will seize flexibly. The company has an office in the United States. 

The Group now has over 2.1GWp of installed capacity under its belt and employs over 600 employees worldwide. Headquartered in Germany, the Group has international subsidiaries in Asia, the Middle East and the US.

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An inverter converts the variable direct current (DC) output of a PV solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a locally, off-grid. It is a critical part of a PV system (and often the costliest) that allows the use of ordinary AC-powered equipment. The joint development by SolarEdge and Tesla builds on SolarEdge’s DC optimized inverter solution and Tesla’s automotive-grade energy storage technology.

“Tesla’s collaboration with SolarEdge unites leading organizations in two rapidly-growing industries—solar energy and energy storage—to bring homeowners a more cost-effective and integrated energy generation, storage, and consumption solution,” said J.B. Straubel, Chief Technology Office of Tesla. “SolarEdge’s commitment to improving the value of PV systems through product innovation, combined with more than 1.3 GW of successful deployments, makes it an ideal partner for Tesla to develop and introduce this new energy storage solution to the PV market.”

The average home uses more electricity in the morning and evening than during the day when solar energy is plentiful. Without a home battery, excess solar energy is often sold to the power company and purchased back in the evening. This mismatch adds demand on power plants and increases carbon emissions. Tesla’s Powerwall aims to bridge the gap between renewable energy supply and demand by making a home’s solar energy available when it is needed.

The battery charges using electricity generated from solar panels, or when utility rates are lowest, then powers your home in the evening. It also protects against power outages by providing a backup electricity supply.

“Like SolarEdge, Tesla recognizes the need and opportunity to develop innovative solutions designed to lower the cost of solar energy and make clean, renewable energy more feasible for customers around the world,” stated Lior Handelsman, Marketing and Product Vice President of SolarEdge. “Tesla’s industry leading battery storage technology makes it a natural fit for this. Together, we are taking the first step towards widespread adoption of integrated solar energy generation and storage in the residential market.”

Designed to manage both functions with just one SolarEdge DC optimized inverter, the solution will allow for outdoor installation and will include remote monitoring and troubleshooting to keep operations and maintenance costs low. The solution will also support upgrading existing SolarEdge systems with the storage solution.

For enhanced safety, the solution is designed to use SolarEdge’s SafeDC™ architecture, which enables safe voltage levels in the event of inverter or grid disconnection to safeguard workers, homeowners, and firefighters. Additionally, the system will be in full compliance with the National Electrical Code 2014. It is expected to be available by the end of 2015.

Image of PV panels from Shutterstock

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