Vietnam and Thailand attract German solar energy funds

HAMBURG, Germany — A German crowdfunding platform for green energy is looking to further expand in Southeast Asia after most recently acquiring a Thai solar project. 

Ecoligo bought SEA Rooftop Solar, the Thai solar subsidiary of German utility giant RWE, in December. With the deal, whose price has not been disclosed, Ecoligo obtained SEA’s only project, a solar installation on the roof of a metal fabrication factory in Chon Buri.

In turn, Ecoligo is using its crowdfunding model to give backers a chance to buy into an environmentally friendly project and receive an annual return of 5%. Xcellent, the factory owner, expects to cut its energy bills by 15-20% under a 20-year power purchasing agreement with Ecoligo.

Martin Baart, Ecoligo’s CEO, said the decision by RWE — the world’s No. 2 in offshore wind power and Europe’s third-largest in renewable energy — to sell its Thai unit…