Cleanwatts is thrilled to announce the closing of a Renewable Energy Community (REC) financing facility with Tejo Ventures for an undisclosed amount. As a leading provider of Clean energy-as-a-Service across Portugal and a global frontrunner in the development of RECs, Cleanwatts harnesses the power of private capital to unshackle the energy transition where it matters most: locally.
Tejo Ventures, a Portugal Golden Visa eligible fund, allocates capital to the energy transition, backing developers in renewables, particularly solar and energy-as-a-service. Founded in 2021 by Yann Rey and Julian Johnson, their new Solar Future Fund anticipates raising and allocating a further € 50M in 2024.
By deploying clean energy assets into communities at zero upfront investment, Cleanwatts promotes a just transition: one that abates the cost of energy for local communities while accelerating the transition and strengthening energy security for those same communities in the years to come. After reaching commercial operation date (COD), Cleanwatts manages each REC through its proprietary software platform, Cleanwatts™ OS, designed to optimize local energy loads, local market exchanges and related financial transactions.
Michael Pinto, CEO and Cofounder of Cleanwatts:
“We’re delighted to partner with Yann and his team. Tejo Ventures understand the enormous value that private capital brings to the table when it comes to the energy transition. We’ve enjoyed working with Tejo over the past few months and we look forward to deepening our relationship as we progress.”
Yann Rey, CEO and Cofounder of Tejo Ventures:
“We’re excited to support Portugal in its clean energy transition as the country strives to achieve ambitious targets by 2030. Cleanwatts’ commitment to a just transition aligns with our funds’ values as we commit to helping finance a safer, cleaner, more equitable future.”
For more information about Tejo Ventures and their initiatives, click here.