Investment Type:

BONDS

Investment Horizon / Maturity:

5 years

Return Profile:

5.4% p.a.

Total Offering Size:

24,000,000 EUR

Clean energy scale-up

Renewable energy issuer operating and developing clean energy infrastructure. The business is linked to project origination, permitting, construction oversight, grid connection and long-term asset management. Investors should review the quality of the asset base, contracts, operating data and regulatory framework. Detailed numerical investment terms are kept in the structured fields.

Minimum Investment: 1,000,000 EUR

Distribution Mechanism: Coupon payments according to instrument terms; principal repaid at maturity.

Security / Protection Structure: Senior unsecured obligation with prospectus-based disclosure

Early Exit / Redemption Terms: Secondary market sale subject to liquidity

Capital Return Mechanism: Principal repayment at maturity

ISIN: Assigned

Investment Opportunity Status: ACTIVE

Transaction ID: II-25-235

Financial Performance

Revenue (current year): 52,000,000 EUR

Revenue (2 years ago): 43,000,000 EUR

Revenue (1 year ago): 47,000,000 EUR

EBITDA (current year):

EBITDA (2 years ago): 7,000,000 EUR

EBITDA (1 year ago): 7,600,000 EUR

Operating Profit (EBIT) (current year): 8,100,000 EUR

EBITDA Margin: 15.6%

Balance Sheet & Leverage

Total Assets: 88,000,000 EUR

Equity: 39,000,000 EUR

Long-term Liabilities: 32,000,000 EUR

Short-term Liabilities: 17,000,000 EUR

Equity Ratio: 44.3%

Net Debt / EBITDA: 6.0x

Total Liabilities: 49,000,000 EUR

Liabilities / Equity: 1.3x

Liabilities / Assets: 55.7%

Long-term Liabilities / Total Liabilities: 65.3%

Short-term Liabilities / Total Liabilities: 34.7%

Collateral Coverage

Value of Collateral: N/A

Collateral Coverage Ratio: N/A

Description of Collateral and Coverage: Senior unsecured instrument; no specific asset collateral. Investor protection is based on issuer covenant, disclosure and repayment capacity.

Use of Funds & Valuation

Use of Proceeds: Refinancing and expansion of renewable energy assets

Accepted Investment Currencies: EUR, USD

Ownership & Legal

Ownership Structure:

Founders 55%, institutional shareholders 45%

Existing Financing: Senior bank facilities

Company Jurisdiction: France

Business & Strategy

Company / Project Description: Renewable energy operating company focused on renewable energy infrastructure.

Revenue Generation Model:

Revenue from electricity sales and contracted energy offtake.

Year Established: 2014

Number of Employees: 64

Brief History:

Issuer has grown from regional asset operator to a multi-asset renewable platform.

Reason for Capital Raising:

Refinancing of existing assets and funding for portfolio expansion.

Core Business Activity:

Ownership and operation of renewable energy assets.

Company Stage: Active – prospectus-based offer

Revenue Generation Model:

Revenue from electricity sales and contracted energy offtake.

Detail

The opportunity concerns a renewable energy operating company active in renewable energy infrastructure. The business is built around originating, operating and expanding renewable energy assets, including permitting, grid connection and asset management. It should be assessed as an operating business with defined commercial drivers, rather than as a generic financial product. The sponsor or manager is expected to demonstrate sector knowledge, control over execution, a credible reporting process and the capacity to manage the project through the full investment period. The commercial rationale is based on the practical economics of renewable energy infrastructure. Revenue generation is expected to come from electricity sales and contracted energy offtake. The investment case therefore depends on the quality of the underlying assets, the reliability of demand, the competence of the operating team and the ability to convert the business plan into measurable cash generation. Investors should focus on whether the assumptions are supported by contracts, market evidence, operating history and a realistic implementation plan. Capital is intended to support refinancing and expansion of renewable energy assets. The funds should be applied within the defined business perimeter and monitored through normal institutional reporting. For this type of opportunity, investors would normally expect clear use-of-funds controls, regular management information, budget monitoring, restrictions on material changes and a transparent approval process for major decisions. Where the structure involves a dedicated project vehicle or fund vehicle, the separation between the investment perimeter and the sponsor’s wider activities should be clearly documented. Execution risk is central to the assessment. The relevant diligence should cover management experience, asset control, customer or tenant demand, supplier and contractor arrangements, regulatory conditions, legal enforceability, insurance, reporting and the practical route to liquidity. A credible plan should explain how the business will be operated, which milestones must be achieved, how delays or cost pressure would be managed and what information investors will receive during the holding period. Investor protection should be analysed through the specific instrument and governance package. The current structure is described elsewhere in the dataset as listed prospectus bond, and the investor position should be read together with subscription documents, constitutional documents, reporting obligations, transfer restrictions, tax considerations and risk factors. The narrative intentionally avoids repeating headline financial terms, because those terms belong in the structured fields of the platform and in the formal documentation. The opportunity is intended for institutional review. It should therefore be presented as a business profile: what the company or vehicle does, why the project exists, how the operating model creates value and which commercial factors matter before an investment committee proceeds to deeper due diligence. The investor should separately review the financial model, legal documentation, management accounts, audit status, sensitivity analysis and all assumptions supporting the business plan. In practical terms, the strongest review questions are whether the energy infrastructure operator has sufficient execution capacity, whether the business plan is based on verifiable market evidence, whether governance rights are adequate for the risk profile and whether the exit or redemption route is realistic under conservative conditions. The opportunity should not be evaluated only on presentation quality; it should be tested against asset-level evidence, contractual documentation, management reporting and downside scenarios. This makes the description useful for screening while leaving formal investment terms to the structured fields and transaction documents. In practical terms, the strongest review questions are whether the energy infrastructure operator has sufficient execution capacity, whether the business plan is based on verifiable market evidence, whether governance rights are adequate for the risk profile and whether the exit or redemption route is realistic under conservative conditions. The opportunity should not be evaluated only on presentation quality; it should be tested against asset-level evidence, contractual documentation, management reporting and downside scenarios. This makes the description useful for screening while leaving formal investment terms to the structured fields and transaction documents.

Pro-forma & Transaction

Deal/Revenue: 0.5x

Deal/EBITDA: 3.2x

Deal/Equity: 0.6x

Structure & Terms

Capital Structure: Equity 44.3%, liabilities 55.7%.

Investor Ranking: Senior unsecured creditor

Return Source Mix: Coupon interest and principal repayment

Instrument: Listed prospectus bond

Financial Reporting:

Accounting Standard: IFRS

Audit Status: Audited

Data Room:

Audit:

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