Unergy Protocol

Introduction to Unergy

Founded in 2020, Unergy is a Colombian renewable energy company revolutionizing the financing of climate infrastructure through innovative fractional investment models. By leveraging blockchain technology and a Web3 funding approach, Unergy enables both traditional and decentralized finance (DeFi) investors to participate in solar energy projects with minimal capital. Operating under UNERGY S.A.S. (NIT No. 901.372.693-8), the company bridges the global clean energy investment gap by transforming underutilized land into mini-solar farms, fostering sustainable energy production and agricultural synergy through agrivoltaic solutions.

Unergy’s mission is to democratize access to renewable energy investments while promoting land efficiency and environmental sustainability. The company has achieved significant milestones since its inception, including financing its first solar project in 2021, raising its initial investment round in 2022, launching Colombia’s first Mini Solar Farm in Luruaco, Atlántico in 2023, and establishing Solab, Colombia’s first Open Solar Laboratory, in 2024. As of 2024, Unergy operates 11 mini-solar farms across Colombia, with 20 more under construction, generating a total of 710.05 MWh of clean energy.

Unergy’s Investment Model

Unergy attracts both institutional and Web3 investors, offering diverse opportunities to participate in renewable energy projects. Institutional investors can engage with a minimum investment of $500,000, securing returns starting at 13%, with tax incentives potentially boosting profits to 20% annually. For Web3 investors, Unergy introduces a blockchain-based investment model through two types of ERC-20 tokens: pWatt and uWatt. These tokens, issued on the Polygon blockchain, allow investors to fund solar projects and gain exposure to clean energy assets. To participate, investors must complete a Know Your Customer (KYC) verification process, ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.

Below, we explore the two token types, their mechanics, and their investment potential, based on Unergy’s official documentation and Terms and Conditions.

pWatt Tokens: Project-Specific Investment

pWatt tokens are designed for investors seeking exposure to specific renewable energy projects, such as individual solar farms developed by Unergy. These tokens represent a stake in a particular project’s economic output, as detailed in Unergy’s White Paper, which outlines the rights and obligations of token holders and Unergy as the issuer.

• Key Features:
  
  • Minimum Investment: $1,200 (approximately 5 million COP), making it accessible for retail investors.
  • Returns: Expected yields of 10% or more, distributed proportionally based on energy revenue generated by the project.
  • Fixed Supply: The token supply is tied to the project’s watt-peak (Wp) capacity. For example, a 1 MWp solar project corresponds to 1,000,000 pWatt tokens, issued via a dedicated smart contract for each project.
  • Trading: pWatt tokens can be traded within or outside the Unergy platform, offering liquidity for investors. They can also be swapped for uWatt tokens, subject to valuation based on the Net Present Value (NPV) of future project cash flows.
  • Current Status: All pWatt tokens for existing projects are sold out.
• How It Works:
  Investors purchase pWatt tokens through the Unergy platform, funding the development of a specific solar project. Once operational, the project generates energy, and the resulting revenue is distributed to pWatt holders proportional to their token holdings. For instance, if an investor holds 10,000 pWatt tokens in a 1 MWp project generating $100,000 in annual revenue, they would receive a share of the profits based on their 1% stake (10,000/1,000,000 tokens).
  
• Legal Framework:
  According to Unergy’s Terms and Conditions, pWatt tokens grant economic participation rights in a specific project, such as a share of revenue, but do not inherently confer legal ownership of physical assets (e.g., solar panels). The exact rights are detailed in the White Paper. Investors bear the risks of market volatility and project performance, as pWatt tokens are not legal tender and are subject to significant price fluctuations.
  
• Investment Appeal:
  pWatt tokens are ideal for investors who want to support a specific renewable energy initiative while earning returns tied to its performance. The fixed supply and project-specific nature provide transparency, but investors must conduct due diligence, as returns depend on the project’s success and market conditions.
  

uWatt Tokens: Portfolio-Based Stability

uWatt tokens offer a more diversified and stable investment option, representing fractional ownership in a reserve of operational clean energy projects managed by Unergy. These tokens are designed to provide steady returns and can be redeemed for equity stakes in real energy-producing assets, making them a unique bridge between Web3 and traditional asset ownership.

• Key Features:
  
  • Price and Yield: Priced at $0.94 per token, offering a 13.66% annual yield, based on the performance of Unergy’s operational project portfolio.
  • Portfolio Composition: The reserve includes projects such as:
    • Acanto (Envigado): 176 solar modules, 2.75% of reserve.
    • Obelisco (Medellín): 283 solar modules, 1.86% of reserve.
    • Uruaco (Luruaco): 2,496 solar modules, 2.34% of reserve.
    • Ibes (Cúcuta): 100 solar modules, 6.67% of reserve.
    • Clínica Somer (Rionegro): 538 solar modules, 4.82% of reserve.
    • Pola del Pub: 236 solar modules, 2.22% of reserve.
    • Baraya (Geleras): 2,496 solar modules, 77.21% of reserve.
    • El Son (Valledupar): 2,280 solar modules, 2.13% of reserve.
  • Redemption for Equity: Holders of at least 250,000 uWatt tokens can redeem them through the Unergy platform for a contractual right to an equity stake or effective ownership in one or more projects, with Unergy determining the specific project(s). This process requires signing a traditional contract, as outlined in the Terms and Conditions, to formalize legal ownership.
  • Trading and Stability: uWatt tokens serve as an energy-backed digital currency with relatively stable value, as their valuation is tied to the NPV of the reserve’s cash flows. They can be traded on the Polygon blockchain and tracked via Polygonscan, with 1,851 uWatt holders as of 2025.
  • Swap Mechanism: Investors can swap pWatt tokens for uWatt tokens, diversifying their exposure from a single project to a portfolio of operational assets.
• How It Works:
  An investor purchases uWatt tokens at $0.94 each, gaining exposure to a diversified pool of operational solar farms. For example, an investment of $9,400 buys 10,000 uWatt tokens, entitling the holder to a share of the portfolio’s revenue, projected at 13.66% annually. If the investor accumulates 250,000 uWatt tokens (approximately $235,000), they can redeem them for a legal stake in a project, such as a 5% ownership in a solar farm, formalized through a contract with Unergy. The contract specifies the terms of ownership or revenue rights, ensuring legal enforceability under Colombian law.
  
• Legal Framework:
  As per Unergy’s Terms and Conditions, uWatt tokens grant a contractual right to redeem for equity or ownership in projects, but they do not inherently confer legal ownership until the redemption process is completed. The minimum redemption threshold (250,000 tokens) and the requirement for a signed contract ensure that only significant investors can transition from token ownership to legal asset ownership. Unergy retains discretion over which project(s) are assigned during redemption, and delays may occur to comply with legal requirements (e.g., AML/CFT regulations). The White Paper provides detailed rights and obligations, and investors must consult it to understand the full scope of their investment.
  
• Investment Appeal:
  uWatt tokens are suited for investors seeking stability and diversification, as they are backed by a portfolio of operational projects. The ability to redeem tokens for equity stakes offers a pathway to tangible asset ownership, making uWatt tokens a compelling hybrid of Web3 and traditional investment. However, investors must be aware of the high redemption threshold and the risks of market volatility and project performance.
  

Unergy’s Operational Model

Unergy acquires or leases underutilized land meeting specific criteria (e.g., access to roads, proximity to three-phase power lines, minimum 2 hectares of flat terrain) and converts it into mini-solar farms. These farms generate clean energy while supporting agrivoltaic practices, allowing landowners to continue agricultural activities alongside solar production. This dual-use approach maximizes land efficiency and promotes sustainable development.

Team and Community Engagement

Unergy is led by co-founders Eduardo Ospina Serrano (CEO) and Paola Santiago (CFO & CPO), whose expertise drives the company’s vision. Unergy maintains active social channels on LinkedIn, Facebook, and YouTube, primarily focusing on informing stakeholders about its activities and developments rather than aggressive Web3 investor outreach. The Unergy app, available on Google Play, provides a user-friendly interface for managing investments and tracking token performance.