We’ve invested in Minoan Energy E.C., an energy community founded in 2019. The community is constructing a 1MW solar park in Crete and is set to produce 1,486,002kWh of solar energy per year and in the process, reduce 1,650 tons of CO₂ annually. The solar park will use net metering and sell the energy onto the grid, which is then distributed among the community’s members. To top that off, the solar park will provide energy relief to 170 households, as well as approximately 40 local Cretan businesses.
Energy democracy underpins Minoan Energy E.C. as decision making is participatory and demonstrates collective action in the energy transition from fossil fuels to Renewable Energy Sources (RES).
In 2022 the Minoan Energy Community was awarded by the European Sustainable Energy Week in the local energy action category.