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Invest in the Future of Solar Energy in Spain and Italy
Solar Ambition Europe, a subsidiary of Green Enesys Group, a European developer of renewable energies, is partnering with Viridi to co-develop nine solar power plants in Italy and Spain, representing 82.2 MWp. This fundraising aims to raise €750 000. Investors benefit from a 9% interest rate over a three-year maturity period. This funding aims to cover the initial development costs, such as technical studies, administrative authorizations, and preliminary work, leading to a fully permitted (Ready-To-Build) project scheduled for 2027.
The project
This funding aims to support the development of nine photovoltaic ground-mounted projects, two of which include an agrivoltaic component, combining agriculture and solar energy production.
These projects are located in strategic regions of Italy (Basilicata and Sicily) and Spain (region of Madrid), two areas benefiting from favorable climatic conditions for solar energy.
The technologies used for these power plants include solar trackers, which optimize energy production by following the sun’s trajectory throughout the day, significantly improving efficiency compared to fixed photovoltaic systems.
The portfolio totals a capacity of 82.2 MWp and is expected to reach the RTB (ready-to-build) stage between 2025 and 2027, depending on the different projects. All these projects have obtained network access authorization, and most have secured land.
Project owners
Solar Ambition: Powering Europe’s Renewable Future
As the solar arm of Green Enesys, Solar Ambition Europe GmbH specializes in the development of photovoltaic projects across Europe, bringing expertise and dedication to advancing renewable energy solutions on a continental scale.
Green Enesys and Viridi RE Group: Established renewable energy developer
Founded in 2006 and 2009, respectively, Viridi RE Group and Green Enesys Group are international developers in the renewable energy sector, with a strong presence in Europe and America.
The decade-long partners combine an-18-year proven track record in developing, funding, and building over 100 PV and renewable energy projects. Operating across 15 countries, with offices in Germany (HQ), Spain, Italy, the USA, Colombia, Mexico, and Peru, the two companies collaborate on a broad portfolio of green initiatives, including photovoltaic (PV), energy storage, and green hydrogen projects.
With a current pipeline of around 12 GW globally (71+ projects), with ~1GW in Italy and 2.7GW+ in Spain, they are covering every stage of renewable project development, from technical assessments to financial processes, ensuring utility-scale projects become “ready-to-build.” Over the past decade, they have developed nearly 500 MW of PV projects and have facilitated project sales totaling over 1 GW in the past 18 months.
Our analysis
Risk overview
Development risk
Risk relating to authorizations issued to the company and land, and third-party appeals against authorizations issued.
Mitigation methods
The teams of the two co-developers, Green Enesys and Viridi, have extensive know-how and experience in the development and construction of this type of photovoltaic project.
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
The sponsor is already negotiating with potential financial partners to refinance its projects with bank debt or equity. Even if Solar Ambition wishes to retain its projects, some of them could be sold on reaching “ready-to-build” status, should the need arise. Furthermore, the Group's solidity is well established: Green Enesys and Viridi have a development pipeline of over 12 GW worldwide (1GW in Italy and 2.7GW+ in Spain).
Regulatory risks
Risk of changes in regulations applicable to the sector, involving reductions in subsidies or new taxes with a significant impact on project revenues.
Mitigation methods
The portfolio of projects presented is at a mid-stage of development, despite having obtained connection agreements for each project. In the event of failure to develop one of these projects, the sponsor undertakes to replace it with a similar project (in size and stage of development).
Investing in this participatory financing project involves risks, including the risk of total or partial loss of the capital invested. Your investment is not covered by the deposit guarantee schemes established in accordance with directive 2014/49/EU of the European Parliament and of the Council. Your investment is also not covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council. Return on investment is not guaranteed. This is not a savings product, and we recommend that you not to invest more than 10% of your net assets in participatory finance projects. You may not be able to sell the investment instruments when you wish. If you are able to sell them, however, you may incur losses.
