By Freja Eriksen | –
German start-up Ecoligo has created a crowd investment structure to encourage the expansion of solar power in developing countries, writes business daily Handelsblatt. The two founders, Martin Baart and Markus Schwaniger, saw high interest rates on loans and high investment risks as hurdles for solar power expansion in countries like Ghana, Kenya, Costa Rica and Chile.
Ecoligo’s solution for local companies who want to set up solar systems is to crowdfund the capital needed from investors and to construct and maintain the solar system. Instead of taking out an expensive loan for its installation, the local company gradually pays for the system and electricity, while investors receive an in