Description

This campaign aims to finance a photovoltaic plant for the Humanitarian Association of Firefighters of Amadora, a nonprofit fire and emergency services organization with more than 120 years of service to the community.

The Humanitarian Association of the Amadora Volunteer Firefighters was founded in 1905 and is the only firefighting corps in the city of Amadora. With around 176.000 inhabitants in an area of just 24 km², surrounded by the main access roads to Lisbon with heavy daily traffic, it is the Amadora Firefighters whom the population - and everyone passing through the city - rely on for assistance and rescue. Their mission focuses on protecting people and property, providing aid to the injured and the ill, and extinguishing fires, maintaining to this day a humanitarian and solidarity‑driven approach.

The contract signed between Solcor Portugal and the association includes the installation of a 93,22 kWp solar photovoltaic system for self-consumption, composed of 158 panels (590W each), two inverters, DC and AC equipment and accessories, monitorization equipment, and a support structure. It will enable the production of over 125 MWh of clean energy per year and 40% energy self-sufficiency. This guarantees a reduction of 48% in electricity costs. The project also includes the safe removal of asbestos from the existing roof and its replacement with a new, safer structure.

The installation and operation of the facilities will be installed and operated by the campaign promotor: Solcor Portugal, a company specializing in the development and operation of solar photovoltaic installations. 

The Impact

Direct 

Contribution to the decarbonisation of Portugal, avoiding CO2 emissions: With a total production of clean energy of over 125 MWh per year, the solar plant will avoid the emission of more than 13 tonnes of CO2 per year. This is equivalent to the CO2 absorption of 624 trees.

Cost reduction for the end customer: decentralized energy production through renewable sources, close to the place of consumption, helps to avoid distribution costs, this being the most competitive option. In addition, the company's lower dependence on the national grid makes it less vulnerable to price fluctuations and tax charges.

Improving the health and well-being of workers: the removal of the asbestos roof at the factory has direct health benefits for everyone who works in the building. The use of asbestos in buildings has been banned in the European Union since 2005 and its presence has been associated with cases of cancer and other lung diseases, due to the inhalation of its fibers. The removal of asbestos from the roof must be performed by technicians and specialized companies so that safety is guaranteed.

Indirect

Improvement of the organization's core services: the cost reduction in electricity expenses enables the Firefighting Association to improve their services for the community.

Impact Indicators

13.75 T

CO2 avoided per year

125.59 Mwh

clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Download the Financial Statements for the promoter here

Download Key Investment Information Sheet

Guarantees

The loans granted to the project promoter SOLCORELIOS II, UNIPESSOAL LDA by investors will be secured by the following guarantees, as set out in the loan agreements relating to the campaign:

• 1st degree pledge of credit rights by SOLCORELIOS II, UNIPESSOAL LDA ("Seller") of amounts receivable under a service contract with its client Associação Humanitária dos Bombeiros Voluntários da Amadora ("Client") with the following NIF 500910318. The contract was signed on 23/12/2025 and will run for 180 months. 
• 1st degree commercial pledge, under Portuguese law, provided by SOLCORELIOS II, UNIPESSOAL LDA of movable assets that are already installed, namely: photovoltaic plant with a power of 93,22 kWp consisting of 158 solar panels (brand RSM144-9-570BNDG-595BNDG - 590W), 2 inverters (brand Huawei, one SUN2000-30KTL-M3 and another SUN2000-50KTL-M3), 1 support structure (Energy Systems Coplanar), 1 monitoring equipment with Huawei Smartdongle internet connectivity, and AC and DC equipment and accessories that were supplied by the company SOLCORACTION, LDA with the following tax identification number 515346306.
• Corporate guarantee to be provided of SOLCORACTION, LDA, under Portuguese law (“Letra com Aval”), with the company register number (“NIPC”) 515346306, for the total amount of the debt.

The Promoter

About SOLCORELIOS II, UNIPESSOAL LDA

SOLCORACTION LDA, also known as Solcor Portugal, is part of the Solcor Group — a company with Belgian roots, founded in 2014 and active in Portugal, Chile, and Colombia. The group focuses on commercial solar installations and project financing, with over 650 completed projects to date.

Solcor frequently relies on technical guidance from other companies within the group, which are closely connected through shared ownership. Together, their activities span nearly every aspect of the solar photovoltaic market:

• EMAT - a distributor of photovoltaic equipment.
• Nikola - a resilient installer.
• Delta Activos -  a company dedicated to solar maintenance.

SOLCORELIOS II, UNIPESSOAL LDA is part of the Solcor Group (a subsidiary of Solcor Portugal), created to develop solar projects for associations and organizations with community involvement or social purposes.

Solcor has been active in Portugal since 2019. Its talented team of 15 professionals has delivered over 200 solar projects nationwide, contributing to the company’s expertise in developing, operating, and financing solar power plants.

Solcor aims to raise energy awareness and support the decarbonization of the economy by building sustainable relationships through positive, simple, and transparent agreements. Based on its performance and financial strength, the company is certified as PME Lider.

Its solar plant at the Caramulo Museum was one of the first collective self-consumption installations in the country.

The team

Steven V Cauwenberge

Chief Executive Officer of the group

Founder of the Solcor Group, currently serving as Chief Executive Officer of the Solcor Group. Master’s degree in Business Engineering – Finance from KU Leuven. Master’s degree in Civil Engineering. Postgraduate studies in Investment Analysis at the London School of Economics.

Vincent Vangeel

Co-founder and CEO

Master’s degree in Business Engineering – Supply Chain from KU Leuven. Master’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.

Tommaso Mura

Co-founder and COO

Graduated in Energy Engineering from the Polytechnic University of Turin. Master’s degree in Renewable Energy Engineering from IST in Lisbon and KTH in Stockholm.

Business Model

Updates