Swimsol is inviting you to invest in our projects.
Get in touch via firstname.lastname@example.org, and help us to accelerate the transition of tropical islands to a clean energy future.
Solar System Portfolio – 3 Projects
This is a package consisting of 3 projects with private island resorts in the Maldives. Contracts with the clients are long-term power purchase agreements (PPA).
The solar systems work with diesel generators in a hybrid mode, reducing diesel consumption during the hours of sunshine, and generating savings for the customers.
The projects feature high-quality double-glass Tier 1 solar panels, inverters and buffer batteries (to compensate for short-term cloud-shade).
|Resort 1||Resort 2||Resort 3|
| PV capacity||320.8 kWp||447.2 kWp||431 kWp|
| Batteries||120 kWh||114 kWh||140kWh|
| Yearly production||465 MWh||671 MWh||603 MWh|
| Yearly diesel saving||112 000 l||176 500 l||158 795 l|
| Status||Operating||Installed, start 01/2018||Construction in progress, start 01/2019|
Every 100,000 USD invested will result in the following
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The owners of the (luxury) hotel resorts are generally well recognized, international organizations. Contact us for more details on the individual clients
This risk is mainly mitigated through clients with a very sound economic foundation. Furthermore, as challenging as the framework conditions for example on the Maldives might be, the resorts enjoy a very high degree of freedom concerning their business operations and decisions.
All payments with our clients are handled in USD.
According to our power purchase agreements with the clients, solar power is priced below the power produced by diesel generators. As long as the client needs electricity, solar power offers energy at a better price.
The solar power systems are produced by Swimsol and sold to an independent special purpose vehicle (SPV), which issues the profit sharing bond. SPV revenues from power sales are stable, the only costs are a fixed O&M charge. The rest of the SPV’s cash flow is dedicated to payback and profit.
Solar power is a rather new concept for the Maldives. While the awareness for renewable energy is rising, most resort owners are skeptical towards new technologies. Swimsol approaches its clients with a 2-phase-concept. First, install a rooftop systems with a slightly cheaper mounting system than the floating substructure, to increase trust in the reliability of solar power. Second, install larger floating systems, possibly allowing the clients to turn off diesel generators during daytime. With the first three rooftop projects completed, Swimsol is now working on the development of three floating solar power systems with these clients.