Rocasol secures $7.9 million from Skandia to implement over 400 solar power systems in Colombia, aiming to reduce electricity costs for users by up to 90%.

Target Company Overview

Rocasol is a Colombian startup dedicated to financing solar energy projects for households and small businesses. Recently, the company announced the successful raising of $7.9 million, equivalent to 30 billion Colombian pesos, aimed at expanding its operational capabilities. This investment will be utilized to implement more than 400 solar self-generation systems across Colombia, targeting significant reductions in electric expenses.

With the newly secured resources, Rocasol anticipates generating over 9.3 million kilowatt-hours (kWh) annually, thus facilitating a reduction of electric bills by up to 90% for various productive sectors. Rocasol's innovative business model is designed to remove financial barriers, allowing residential users and small enterprises to adopt solar energy solutions without any upfront investment. The monthly savings generated from electricity costs can directly enhance cash flow from the outset.

Industry Overview in Colombia

The energy landscape in Colombia is facing challenges, heightened by concerns over projected energy supply issues for 2027 and 2028. Research from the Regulatory Commission of Energy and Gas (CREE) and the Mining and Ene