The crowd-investment platform for profitable solar energy projects will use the funds to expand operations in in East Africa and Europe.
Trine, which says it is on track to eliminate energy poverty for 66 million people within the next five years, expects its crowd-investment platform for solar energy projects will raise around €100 million over the next 24 months.
The company claims it has developed a novel crowd-investing model that connects disposable income from private individuals with local solar companies in emerging markets that are in need of financing. When a project reaches fully-funded status on the platform, the company stressed, a local solar partner pays Trine a success fee equaling 5% of the total loan. This, the company adds, enables investors to have a 5% annual return on their investments.
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