TECNOSOL, Central America
SIFEM investee
Central American Small Enterprise Investment Fund II (“CASEIF II”)
SIFEM investment in CASEIF II
USD 5.0 million (equity)
CASEIF II investment in Tecnosol
USD 1.15 million (35% equity stake)
In 2007 SIFEM became one of the initial investors in Central American Small Enterprise Investment Fund II (“CASEIF II”), a private equity fund serving the growth capital needs of small and medium enterprises (SMEs) in the region. SIFEM participates on CASEIF II’s Investment Committee and Board of Directors. In turn, CASEIF II takes on a hands-on active approach towards its investees, providing them advice on strategic direction, corporate governance and business organization. CASEIF II bought a 35% equity stake in TECNOSOL in 2009.
TECNOSOL was founded in 1998 by current CEO Vladimir Delagneau, an electronic engineer with a renewable energy background, and his wife. TECNOSOL designs, sells and installs renewable energy systems and equipment in rural areas of Nicaragua, as well as sells and installs thermal solar systems in urban zones. Over 12 years of business TECNOSOL has made more than 40,000 installations of solar energy systems in areas unreached by utility companies. Since 2005 the company has rapidly grown, reaching impressive penetration in Nicaragua’s renewable energy market, and informing local populations about the benefits and potential of solar energy. In 2009 the company embarked upon its expansion into El Salvador, and CASEIF’s investment provided it with much needed capital for growth outside of its home market of Nicaragua. In El Salvador, it has installed more than 800 solar systems in rural areas.
TECNOSOL’s operations generate significant development impact in the communities where it operates. Not only does TECNOSOL improve quality of live by providing energy solutions to poor families with no previous access to power, but it also participates actively in community development, supporting communal sports and donating school kits, lamps and solar panels for communal centers in rural towns. In 2009 TECNOSOL employed 87 people, 57% of which were women and 55% were young employees aged 18-30. On an ongoing basis TECNOSOL participates in local school, universities and technical institutes to enhance the knowledge of alternative energy solutions.
TECNOSOL installs renewable energy systems that replace energy that could be generated with fossil resources. Consequently, the company generates a positive environmental impact that can be quantified into its equivalence of Tons of CO2 displaced (Tons of CO2 that were not produced). From 2008 to 2010, TECNOSOL displaced approximately 14,600 and 10,400 Tons of CO2, respectively.
In 2010 TECNOSOL was the finalist in London Ashden Awards for innovative and successful sustainable energy initiatives, and Mr. Delagneau was named the Latin American Social Entrepreneur of the Year by the World Economic Forum held in Cartega de Indias, Colombia.
Central American Small Enterprise Investment Fund II (“CASEIF II”)
SIFEM investment in CASEIF II
USD 5.0 million (equity)
CASEIF II investment in Tecnosol
USD 1.15 million (35% equity stake)
In 2007 SIFEM became one of the initial investors in Central American Small Enterprise Investment Fund II (“CASEIF II”), a private equity fund serving the growth capital needs of small and medium enterprises (SMEs) in the region. SIFEM participates on CASEIF II’s Investment Committee and Board of Directors. In turn, CASEIF II takes on a hands-on active approach towards its investees, providing them advice on strategic direction, corporate governance and business organization. CASEIF II bought a 35% equity stake in TECNOSOL in 2009.
TECNOSOL was founded in 1998 by current CEO Vladimir Delagneau, an electronic engineer with a renewable energy background, and his wife. TECNOSOL designs, sells and installs renewable energy systems and equipment in rural areas of Nicaragua, as well as sells and installs thermal solar systems in urban zones. Over 12 years of business TECNOSOL has made more than 40,000 installations of solar energy systems in areas unreached by utility companies. Since 2005 the company has rapidly grown, reaching impressive penetration in Nicaragua’s renewable energy market, and informing local populations about the benefits and potential of solar energy. In 2009 the company embarked upon its expansion into El Salvador, and CASEIF’s investment provided it with much needed capital for growth outside of its home market of Nicaragua. In El Salvador, it has installed more than 800 solar systems in rural areas.
TECNOSOL’s operations generate significant development impact in the communities where it operates. Not only does TECNOSOL improve quality of live by providing energy solutions to poor families with no previous access to power, but it also participates actively in community development, supporting communal sports and donating school kits, lamps and solar panels for communal centers in rural towns. In 2009 TECNOSOL employed 87 people, 57% of which were women and 55% were young employees aged 18-30. On an ongoing basis TECNOSOL participates in local school, universities and technical institutes to enhance the knowledge of alternative energy solutions.
TECNOSOL installs renewable energy systems that replace energy that could be generated with fossil resources. Consequently, the company generates a positive environmental impact that can be quantified into its equivalence of Tons of CO2 displaced (Tons of CO2 that were not produced). From 2008 to 2010, TECNOSOL displaced approximately 14,600 and 10,400 Tons of CO2, respectively.
In 2010 TECNOSOL was the finalist in London Ashden Awards for innovative and successful sustainable energy initiatives, and Mr. Delagneau was named the Latin American Social Entrepreneur of the Year by the World Economic Forum held in Cartega de Indias, Colombia.