Project description
Warming up investors to solar irrigation projects
Crops need sunlight to grow. Water is also essential. Bringing these two resources together can make all the difference for today’s farmers. Enter the solar water pumping system. There are proven solutions using photovoltaic systems, but they are also expensive. The EU-funded SOLARFARM project will provide the technological and financial solutions for photovoltaic irrigation (PVI) projects that allow them to be financed directly by institutional investors, reducing drastically the costs and uncertainty for farmers. The web-based solution is the result of in-house technological developments for PVI and a tailored business model, including a set of standardised contracts, technical specifications and management protocols. SOLARFARM’s solution includes enhanced systems monitoring and reporting to guarantee transparency for investors.
Objective
Photovoltaic systems for irrigation (PVI) can reduce the energy costs of agriculture by more than 75% while saving up to 30% of its water consumption. There are proven PVI technologies available but investments exceeding € 24 bn are required to install the systems on the European farms. Affordable capital can be obtained for PVI projects from institutional investors if they are “packaged” in suitable investment instruments like green bonds. We aim to provide the technological and financial solutions for PVI projects that allow them to be financed directly by institutional investor, reducing drastically the costs and uncertainty for farmers. The web-based solution is the result of in-house technological developments for PVI and a tailored business model including a set of standardized contracts, technical specifications and management protocols as well as the human resources and infrastructure that allow for the creation of pools of PVI ready to attract institutional investors. Importantly, by introducing the necessary standards and tracking the quality and performance of the assets with a specific methodology, we will ensure that the resulting investment instruments are in full compliance with the new requirements of the European Capital Market Union. Furthermore, the use of blockchain-based smart contracts has the potential to drastically reduce the costs and time required to assess and validate collateralized assets, creating a remarkable business opportunity for our companies
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- agricultural sciences agriculture, forestry, and fisheries agriculture sustainable agriculture
- engineering and technology civil engineering water engineering irrigation
- social sciences economics and business business and management business models
- engineering and technology environmental engineering energy and fuels renewable energy solar energy photovoltaic
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
15220 BERTAMIRANS AMES
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.