By Elizabeth Bratton and Peter Lee
On June 21, Société Générale announced the acquisition for an undisclosed sum of Lumo, a French crowdfunding platform, through which users can invest small sums into sustainable power projects, and, in return, receive a modest interest rate from the sale of the green energy they produce. Founded in 2012, Lumo has helped raise funding for forty wind, solar and hydroelectric projects, producing over 260 million Kilowatt Hours; enough to cover the annual energy needs of roughly 100,000 homes.
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