Xcellent is one of Thailand’s leading metalworking companies, delivering all aspects of production including engineering, prototyping and product manufacturing.
In order to reduce its carbon footprint and reduce its energy costs, Xcellent installed a roof-top photovoltaic system, with 2,380 solar modules and 12 inverters. The output of the installation is 773kWp, with an electricity yield amounting to 1,396kWh/kWp/year. Through this investment, Xcellent is expected to save an average of 591 tons of CO2 per year or11,810 tonnes of CO2 throughout the system’s entire service life. This is an off-grid system, with the energy generation geared at covering the company's energy needs.
The business structure ensures repayment and interest through a power purchase contract with Xcellent over a 13-year term. The power purchase contract includes fixed installments from the solar yield, whereby Xcellent makes compensatory payments provided the savings made by the end customer through the purchase of solar power in the first two years of operating do not exceed the payments made by the end customer to the project owner under the power purchase contract.
Through this investment, Globalfields is supporting climate action and the Sustainable DevelopmentGoals through crowdfunding for small-scale solar.
Globalfields made an investment in October 2020 in Xcellent Solar System project in Thailand to refinance the roof-top installations. The financing for this project is done through ecoligo investments, which offers fully financed solar-as-a-service solutions for companies. With a complete digital platform for fundraising and for development, ecoligo overcomes the typical barriers preventing this type of projects from being appraised, such as lack of financing. As part of the package it offers companies low-cost solar energy and energy efficiency measures that enable them to grow and therefore strengthen the local economy.This is the first project that ecoligo will implement in Thailand.
Xcellent directly supports the Sustainable DevelopmentGoals, specifically SDG 7:Affordable and Clean Energy; SDG 8: Decent Jobs and Economic Growth; SDG 9:Industry, Innovation and Infrastructure; SDG 13: Climate Action.
This case study was written by Marta Simonetti, Founder and Managing Director of Globalfields. Visit Marta's bio or contact us today to discuss this project.