Business Group Creates New Brazilian Cryptocurrency to Promote Solar Energy Generation

Aiming for Sustainability, a Group of Entrepreneurs Developed a Cryptocurrency That Managed to Raise More Than R$ 1 Million in Two Hours. All the Raised Amount Will Be Directed to a Solar Power Plant

Solar energy is one of the cleanest and most sustainable sources for converting resources into electricity, considering that the sun is an infinite and clean source. Based on this and other information, a group of entrepreneurs developed the cryptocurrency Light DeFi, which was recently launched on the market with the objective of attracting enthusiasts of renewable energy.

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Entrepreneurs Discuss the Brazilian Cryptocurrency That Stimulates Solar Energy Generation

The goal is for 5% of the funds raised from the sale of the asset to be directed to the construction of a solar power plant in Bahia, which is situated in a privileged location in terms of strong sunlight and also has good chances of outflow and energy viability.

According to Germano Sales, one of the entrepreneurs of Light DeFi, the company sees great potential in the solar energy market, as the demand for this service is enormous. Thus, Light DeFi decided to create the cryptocurrency to enable investments and bring projects to fruition.

Cryptocurrency Raises R$ 1 Million in Just 2 Hours

According to a participant of the group of entrepreneurs, just two hours after the launch, the asset had already raised more than R$ 1 million and recorded a valuation of 14,000% with over 2,600 investors.

It is worth noting that the cryptocurrency was created to be sustainable, thus the profit received from solar energy generation is used to buy even more cryptocurrencies, making it much less dependent on the external market.

The idea is that, even when there is not a high demand from investors at certain moments, the currency is supported by the invested capital with the return from the solar power plants.

According to Ricardo Nogueira, one of the entrepreneurs who also participated in the creation of the cryptocurrency, the mechanism was planned for a long time. Part of the fees collected in the trading of Light DeFi will be directed to the construction of photovoltaic solar power plants, and the other part of the profit will be invested in the virtual currency. The entrepreneur states that it will not be based solely on speculation.

Funds Raised from the Sale of the Cryptocurrency Have Already Been Invested in a Solar Power Plant in Bahia

According to Sales, Bahia is a strategic point for solar energy generation in Brazil and that is why it was selected by the entrepreneurs for the implementation of the future Light power plant.

Currently, Bahia is one of the national leaders in solar energy generation, with 25% of the installed solar power plants, according to Aneel and SDE. According to SDE, the municipalities of Tabocas do Brejo Velho, Juazeiro, Bom Jesus da Lapa, Salvador, Itaguaçu da Bahia, and Guanambi received an investment of over R$ 3 billion, which generated about 18,000 direct and indirect job vacancies during the construction phase of the solar parks.

Additionally, José Bione, second research, development, and innovation manager at the Companhia Hidrelétrica do São Francisco (Chesf), is studying the installation of offshore solar power plants in hydropower reservoirs. It is also worth noting that the state has the largest solar energy park in the country, located in the municipality of Bom Jesus da Lapa.