The Fotawatio-X arm of the industry, which is affiliated with Fotawatio and specialises in innovation and investment projects for renewable energy projects, announced today, Monday, that it has looked into investing $9.7 million in Ecoligo, a Berlin-based organisation that aids in the transformation of the energy sector in the developing world. This announcement was made by Abdul Latif Jameel Saudi Energy Company.
Since 2016, Ecoligo has been carrying out energy services initiatives with finance from investors looking for a significant return on their investment.
The company succeeded in implementing 169 projects to generate a total capacity of 82. 4 megawatts in the emerging markets within three continents so far, as the demand for energy rises very quickly compared to the major industrial countries.
This investment enables Ecoligo to maintain its sustainable growth, increase its market share, and significantly advance efforts to alter the global energy industry.
Additionally, Ecoligo wants to expand the number of investment opportunities in its global projects and build out its digital investment platform.
Emerging markets must also participate in the global energy sector’s transformation for it to be successful, but there is frequently a financing gap for solar energy projects in these nations, making access to financing from traditional sources more challenging. As a result, Ecolojo offers an integrated set of energy solutions services, which include planning, implementation, maintenance, and the financing of the factories and plants through mass investments.
By creating and managing renewable energy projects all over the world, Photatutun is dedicated to accelerating the adoption of a more sustainable energy source in the future.
Photatuavi operations grew from constructing the solar power plant infrastructure for institutions to becoming a stand-alone energy production firm with the goal of maintaining its leading position in the development of clean energy infrastructure globally.
Through Ecoligo efforts, this investment has increased the Votawatio customer base to include the categories of commercial and industrial organisations.
With the use of photovoltaic power plants, wind turbines, battery-based energy storage systems, green hydrogen production facilities, and hybrid energy, Fotoatio has so far been successful in creating stations that can produce more over 10 GB of energy across 5 continents.
Through its creative programmes, Fotoatio helps to stop the annual emission of more than a million tonnes of carbon dioxide (CO2).
Saudi Arabia contributes about $10 million to a German business through “Abdul Latif Jameel Energy.”
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