Infrastructure • EU • Note/Bond • Project Notes

Infrastructure SPV: Solar Portfolio ($6.2M)

Aggregation SPV raised CAPEX for a distributed solar portfolio via semi-annual coupon notes. Custodial wallets with segregation, periodic investor reports, and standardized project disclosures. An anonymized case.

Snapshot

Raised
$6,200,000 Investors
95 qualified Timeline
7 months (from planning to close) Stage
Post-Issuance Platform
tZERO Status
Semi-annual coupon payouts active Anonymized

Context & Objectives

Issuer: Renewable energy sponsor with pipeline of small-scale solar assets. Needed efficient capital raise without traditional project-finance bank structures.

  • Aggregate distributed solar assets into one SPV for investor clarity.
  • Issue standardized notes with fixed coupon, semi-annual payouts.
  • Provide transparent reporting: production data, revenue, maintenance.

Structure & Jurisdiction

Legal wrapper

SPV issuing project notes backed by cash flows from a diversified solar portfolio.

Jurisdiction

EU framework with securities law exemptions for qualified investors; platform registry aligns with MiFID requirements.

Instrument

Note/Bond with fixed coupon; backed by underlying project revenues.

Key Terms (Indicative)

Offering size$6.2M
CouponSemi-annual, fixed %
Maturity5 years (with call option)
CollateralDistributed solar assets (10+ sites)
InvestorsQualified only; KYC/AML required
TransferabilityRestricted to whitelisted wallets

Provider Stack

Platform
tZERO (issuance, registry, investor portal)
KYC/AML
Integrated EU-compliant provider
Custody
Segregated custodial wallets for investors
Payments
Wire transfers & reconciled on-chain tokens
Legal
SPV structuring, offering documents, investor memo
Data & reporting
Monthly production, financial KPIs, coupon notices

Key Risks & Mitigations

Production variability
Mitigated via diversified sites + insurance.
Counterparty risk
Power offtake contracts; credit checks on buyers.
Regulatory
EU renewable subsidy compliance; disclosures included.
Operational
Independent O&M provider; reserve accounts.

Lessons Learned

  • Diversification across multiple sites is key for investor comfort.
  • Standardized coupon note terms simplify onboarding & compliance.
  • Transparent monthly performance data builds trust post-issuance.

Downloads

This case is anonymized; downloads are generalized templates.

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