Lumo has joined Societe Generale to help finance renewable energy projects in France.
Lumo is a French fintech that since 2012 has been combining leading expertise in crowdfunding and renewable energies to accelerate the energy transition. It gives individuals and companies the opportunity to help finance a selection of renewable energy projects in France.
Since its creation, the platform has been used to collect funds from thousands of individual investors in favour of the financing of approximately 40 winds, solar and hydroelectric projects with a total green electricity output of over 260 million kWh, or enough to cover the annual energy needs of almost 100,000 households.
"Through crowdfunding, we seek to anchor renewable energies in regions and involve citizens in the energy transition by encouraging them to invest in concrete projects close to home."
Chairman and Co-Founder of Lumo
By acquiring this crowdfunding solution, Societe Generale, a renewable energy financing leader, can better support its major energy clients in developing their projects as requested by the French government’s Renewable Energy Liberation Plan, part of the Climate Plan.
Societe Generale and Lumo - a shared aim
We are reaffirming our willingness to continually adapt our sustainable and positive impact finance approach by drawing on our innovative skills and pioneering spirit to support the energy transaction.
Pierre Palmieri, Head of Global Finance & Head of Sustainable and Positive Impact Finance
Lumo enables the production of green energy equivalent to the energy consumption of 100,000 households in France per year
60 photovoltaic, wind and hydropower plants financed per year
Societe Generale is already fully committed to the renewable energy sector and aims to raise €100 billion between 2016 and 2020 to finance the energy transition, €15 billion of which is in the form of advisory services and financing