Green finance for sustainable farming in Europe

Información del proyecto

SOLARFARM

Identificador del acuerdo de subvención: 817096

DOI

10.3030/817096

Proyecto cerrado

Fecha de la firma de la CE 11 Junio 2018

Fecha de inicio 1 Julio 2018

Fecha de finalización 31 Diciembre 2018

Financiado con arreglo a

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Coste total

€ 71 429,00

Aportación de la UE

€ 50 000,00

Coordinado por

ELA, INGENIERIA Y MEDIO AMBIENTE SL
Spain

Periodic Reporting for period 1 - SOLARFARM (Green finance for sustainable farming in Europe)

Período documentado: 2018-07-01 hasta 2018-12-31

Resumen del contexto y de los objetivos generales del proyecto

Photovoltaic irrigation (PVI) is a new technology that allows significant improvements in the economic and environmental sustainability of farming.By using PVI systems for pumping water, farmers can save up to 70% of the energy costs and reduce water consumption by up to 30%.Nevertheless, PVI requires high up-front costs and, unless tight quality controls are in place, the performance of the systems cannot be guaranteed. Thus,the introduction of PVIhas only reached a small fraction of a potential market of more than € 24 bn in Europe alone. SolarFarm has produced a technical and financial solution for PVI that allows farmers to overcome the aforementioned barriers. This solution is based on tested technical and contractual standards, capacity building and certification schemes for local PVI providers and a tailored financial instrument that allows access to low cost, long term finance.

Trabajo realizado desde el comienzo del proyecto hasta el final del período abarcado por el informe y los principales resultados hasta la fecha

SolarFarm solution includes enhanced system monitoring, data analysis and reporting, especially in order to guarantee transparency over the performance of the assets for investors. The analysis indicated that blockchain could play a crucial role in reducing transaction costs between irrigators and investors. SolarFarm has conducted a feasibility study including a business plan in order to assess the commercial potential of the solution and the actions and resources needed to reach the market. A pilot smart contract power purchase agreement (PPA) has been produced and tested in order to assess advantages and/or inconveniences over traditional PPAs. Results indicate the potential of blockchain for improving distributed renewable energy management and financing. Nevertheless, it will be necessaryto carry out commercial scale operations using the technology as a backup andthe creation of extensive records withresultsbefore using blockchain as a substitution for established data validation and management methods. SolarFarm´s business plan has identified a significant potential for PVI-PPA and financial instruments based on such collateral. Consequently, the promoters of SolarFarm will continue to work on the project at the next stage of development.

Avances que van más allá del estado de la técnica e impacto potencial esperado (incluida la repercusión socioeconómica y las implicaciones sociales más amplias del proyecto hasta la fecha)

SolarFarm solution will allow for the production of suitable PVI pools to be jointly monitored, managed and used as high-quality collateral for financial instruments. As a result hundreds of local installers and thousands of farmers throughout Europe and beyond will be able to introduce PVI in much better conditions.

Sprinkler powered by a photovoltaic irrigation system in Alaejos, Spain, monitored by Solarfarm

Photovoltaic irrigation system in Alter do Chao, Portugal, monitored by Solarfarm