Costa Rican company Greenenergy raises $5M to expand its B2B photovoltaic solutions


Costa Rican company Greenenergy raised a $5 million common equity investment by Deetken Impact Sustainable Energy (DISE).

Greenenergy specializes in financing systems to allow businesses to produce, store and manage their own electrical energy in order to be more efficient, resilient to increases in electricity rates, and above all, environmentally sustainable.

There is more interest in distributed generation in Costa Rica than ever before, driven in part by recent legislation regulating distributed power generation in the country and greater recognition of the potential cost savings and environmental benefits. 

“Today, the worldwide energy trend in industries and businesses is the installation of photovoltaic microgrids and photovoltaic solar systems with energy storage batteries, for the effectiveness in reducing electricity costs and increasing the energy security of the sites. Being able to facilitate the financing of this technology to Costa Rican companies thanks to funds such as those that DISE will invest, is key to the sustainable economic, social and environmental growth of these companies and the country”. Fernando Ortuño, Founder and General Director of Greenenergy.

This collaboration will allow tailor-made financing ranging from zero upfront investment leasing, to offering energy savings through operating structures such as Energy as a Service (EaaS) and Microgrids as a Services (Maas), depending on the needs and interests of the industries and businesses.  

“Following the enactment of important updates and improvements to the Costa Rican legal framework for distributed electricity generation with renewable energy sources, we see substantial dynamism in the market, especially in the Commercial and Industrial sector. We are keen on supporting leading companies offering tailored turnkey solutions that contribute to achieving energy resilience, lowering the cost of electricity, and generating measurable social and environmental impacts. We believe that by supporting Greenenergy’s proactive and professional approach we will contribute to achieving our investment objectives while ultimately benefiting the end users seeking quality and durable solar PV and battery storage installations.” Fernando Alvarado, CEO of Deetken Impact Sustainable Energy.

This fresh funds are expected to contribute to a number of United Nations Sustainable Development Goals (SDGs) including Affordable and clean energy (SDG 7), Industry, innovation and infrastructure (SDG 9), and Climate action (SDG 13), by expanding access to renewable energy generation to different sectors of the Costa Rican economy and in turn mitigating the effects of climate change. 

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