Abdul Latif Jameel Energy’s FRV invests in Ecoligo: German solar-as-a-service provider Ecoligo raised a EUR 10 mn series A investment round from Spain’s Fotowatio Renewable Ventures (FRV), a subsidiary of Saudi solar PV developer Abdul Latif Jameel Energy and Environmental Services. FRV’s venture capital division FRV-X said the investment will expand its portfolio to include commercial and industrial customers in a statement yesterday.

Ecoligo will use the investment to expand its operations, CEO Martin Baart was quoted as saying in the statement. The Berlin-based, emerging-markets focused startup also wants to use the funding to develop its crowdfunding platform.

What’s Ecoligo? The startup acts as a one-stop-shop for services in the solar space, including third-party financing (particularly through crowdfunding), planning, construction, and maintenance. Ecoligo has helped raise EUR 26 mn for EM solar projects yielding 82 MW in total, according to its impact page — meaning it’s still early stage, but it has potential. Its website lists projects in 11 countries, led by Vietnam, Kenya, and Costa Rica. Ecoligo has aided companies and institutions from spinning mills to universities in their transition to solar.

Abdul Latif Jameel Energy and Environmental Services acquired FRV in 2015 after the pair established a JV the previous year. The renewable energy company, once a developer and now an independent power producer, has solar farms in Australia and Spain among other countries. FRV has a pipeline of more than 10 GW of PV plants, wind farms, battery energy storage and green hydrogen projects.