AkuoCoop Launches Fundraiser for Kwita Wije Solar Project
AkuoCoop, the Akuo Group’s crowdfunding platform, is launching another campaign in New Caledonia. The Kwita Wiije project includes 6 MWp of ground-
AkuoCoop, the Akuo Group’s crowdfunding platform, is launching another campaign in New Caledonia. The Kwita Wiije project includes 6 MWp of ground-based photovoltaic panels, an Agrinergie® greenhouse and 3 MW/3MWh of electricity storage. Once it becomes operational at the end of 2021, the plant will help reduce CO2 emissions by 3,200 metric tons a year, and its renewable electricity production will cover the needs of 1,700 homes.
Kwita Wije is Akuo's third solar project in New Caledonia following the Focola Agrinergie plant, inaugurated in February 2020, and Ouaco Agrinergie plant, which injected its first electrons into the network in October 2020.
New Caledonia's electricity production is still dominated by fossil fuels, which account for some 86.3% of total production. Renewable energies currently account for 13.7% of the territory’s energy mix. These three projects will contribute to the islands’ target of achieving 100% renewable energy production by 2030 (DIMENC, Agence Caledonienne de L’Energie, 2019).
The total cost of this project will be EUR 9.8 million. Caisse d'Epargne fle-de-France has pledged to finance EUR 3.75 million, Banque de Nouvelle-Caledonie will contribute EUR 3.75 million and the Akuo Carbon Fund is committed to financing the project up to 500,000 euros. AkuoCoop’s fundraising campaign will thus supplement the financing of the Kwita Wije solar plant to the tune of 770,000 euros. This campaign is open to individuals and businesses who are tax residents of, or whose head offices