funding gap emerging markets
Philippines

WEnergy Global 3

  • WEnergy
  • Direct investment
  • + 200 other investors
  • With a loan of EUR 100,000 WEnergy Global can start construction of their flagship hybrid solar installation in Puerto Princesa.

    €100,000
    Amount
    5.50%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€100,000
    Interest5.50%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 days on 17 April 2018.
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      Summary

      Basic info

      Borrower: WEnergy Global Pte. Ltd.
      Currency: EURO
      Amount: 100K
      Maturity: 36 months, semi-annually and linearly amortizing
      Interest rate: 5.5% p.a.
       

      Direct loan

      This is a direct loan to a company (rather than lending to a financial institution) and therefore it is recommendable that you are careful with the amount you will invest. 

      Summary of the campaign

      This loan is aimed at enabling WEnergy Global to co-finance the Sabang Project, which is a flagship project of the company and the first smart micro-grid in South East Asia to commence construction in April 2018. The project, which is near the Puerto Princesa Underground River Area, a UNESCO World Heritage Site in Palawan, Philippines, aims at boosting social and economic development while encouraging sustainable tourism. The ambition of WEnergy Global is to build, own, operate this project – jointly with two strong local partners – and replicate this technology and business model across the Philippines, Indonesia and Myanmar in the coming years. This project will help the Government to save millions of euros of subsidies while powering people for productivity and building their families. It will reduce over 25,000 tons of carbon emissions, equivalent to over 9,000,000 litres of diesel.

      The power system – with 1.4 MW Solar PV, 1.2 MW Diesel, 2.3 MWh of Li-Ion batteries and 14 km of distribution network using 650 smart meters - is designed to set an example for 24/7 rural or off-grid electrification using renewable energy. The power plant includes an Expo Centre aiming to invite tourists (almost 85% of all the 355,000 tourists travelling to the region are Philippine nationals) to learn about renewable energy in the ‘energy mix’. This Expo Centre will work closely with the City Government and several other national and international parties to enhance awareness in the area of renewable energy and energy-saving technologies.

      It’s important to note that the diesel generators are still required to serve as a backup when the stored solar energy in the battery is insufficient to cater to the night time demand or during daytime whereby the sun is less strong (i.e producing lesser solar energy). Due to the fact that solar power is only generated during daytime however people, businesses, and hospitals for example, also rely on power at night. The solution of using solar power in the mix allows a reduction of approx. 50% of diesel in the years to come and therefore provides much cleaner and cheaper energy to the people and businesses in the region. Over time, the project intends to increase its solar PV base and substitute fossil diesel fuel with biodiesel or even Tidal energy (from the adjacent sea), once economically feasible and available, to further increase the proportion of renewable energy in the mix.

      This loan will impact approx. 650 small and large off-takers. From households to small businesses, to small, medium and large hotels and resorts, to schools and eventually medical centres. Imagine how many lives will be impacted by having access to cleaner energy due to this project, and you can contribute by lending-a-hand! See video link

      About WEnergy Global

      WEnergy Global Pte. Ltd., a company based in Singapore, is active in project development, designing, building, (partial) owning and operating renewable energy power infrastructure with clear and focused actions on the ground in South East Asian countries with 120 million people having no access to electricity.

      The strategic focus is on providing access to electricity to villages and towns in off-grid areas through micro-grids powered by renewable energy sources, but also – when required by the local regulations – use conventional diesel technology to provide 24/7 electricity.  The company is growing its portfolio to an estimated €200 million in the next 3-5 years, as the opportunities are huge and building on the strong support from the team of vast experienced international professionals. For more information see the website

      WEnergy Global was established by Ir. Atem Ramsundersingh, who is the CEO, with over 30 years of international experience with business and project development in emerging economies. He worked at the World Bank and UNESCO-IHE Institute for Water and Environment (Delft, NL) among others, and holds a Masters Degree in Infrastructure Engineering from Delft University of Technology. Currently, the company has six shareholders from The Netherlands, Germany, Austria, Hong Kong and Australia. More information about Atem

      Management team

      Fabian Weber (Dipl.-Eng): joined WEnergy Global in 2012 as Head of Systems Design and Engineering. He used to work at SunEnergy Europe GmbH (Hamburg, Germany) and is a professional engineer holding a Masters degree from the Technical University of Berlin and a Masters degree from the Ecole Nationale des Points et Chaussees in Paris.

      Dr Robert de Groot: joined WEnergy Global in 2016 as the Lead Power Transmission and Distribution Engineer. He used to work with ENEXIS BV (‘sHertogenbosch, The Netherlands) and obtained his Masters and PhD degrees from the TU Eindhoven.

      Agnes Valentine: joined WEnergy Global in 2016 as the Senior Energy Investment Officer. She used to work with Mission NewEnergy (Kuala Lumpur, Malaysia) and obtained her Master's degree in Corporate Finance from the Southern New Hampshire University.

      Tan Sock Min: joined WEnergy Global in 2013 as the Senior Corporate Finance Manager. She used to work with Turiya Technologies (Singapore) and is a member of the Association of Chartered Certified Accountants (ACCA) holding a Bachelor’s degree in Accounting from the Oxford Brookes University Business School, United Kingdom.

      Penny Gan: joined WEnergy Global in 2013 as the Senior Logistics & Procurement Manager. She used to work with CEM-PYRAMID Manufacturing (Singapore) and obtained her Bachelor's degree from the Royal Melbourne Institute of Technology, Australia.

       

       

      Company nameWEnergy Global 3
      CEOAtem Ramsundersingh
      Founded2012-01-01
      LocationSingapore, Manila
      SectorSustainable energy projects
      Turnover€701,766
      Employees10

      Impact

      There is currently no information available for this section. Check the Summary tab for more.

      • With this investment 2 jobs are created
      • With this investment 650 people are reached
      • With this investment 25000 tons of CO2 are reduced

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      We have already contributed for WEnergy Global 3

      Pieter van der Plas
      Niek de Bruijn
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