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Days left0
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Annual return7,00%
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Investment duration24 MONTHS
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Investors338
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Min/Max investment100 / 400.000€
WHAT AM I INVESTING IN?
Energred Power Plant S.r.l. is applying for a loan of €280,000 (with a maximum of €400,000) for the revamping of the Villetta Barrea (AQ) hydroelectric power plant in the municipality of the same name.
The power of the turbine unit will be of 250 kW, with an annual output of about 1,000,000 kWh.
The energy produced will cover the energy needs of the municipality (902,000 kWh), which will have the possibility of becoming Italy's first nZEC© (Near Zero Energy Community).
The revamping works include routine and extraordinary maintenance operations, such as:
- Water intake system renovation.
- Cleaning of adduction channel
- Restoration of safety and control bulkheads
- Renovation of technical rooms
- Modernization of electromechanical equipment
The power plant is of historical interest: inaugurated in 1910, destroyed during World War II and rebuilt in 1952 by Enel, it underwent revamping in 1995. Since 2015, due to the failure of part of the water intake system, the plant has been out of service. The revamping will allow the plant to be restored and produce renewable energy again.
HOW IS THE INVESTMENT PAID BACK?
The Care&Share® methodology involves sharing the value created in terms of energy savings for the user and investment payback by EnergRed.
The project is divided into two phases:
PHASE 1:
- ENERGRED acquired from the Municipality of Villetta Barrea the 30-year concession for the operation of the hydroelectric power plant, winning the Call for Tenders as Proponent (D.Lgs. 50 of 18/04/2016).
- By virtue of the above concession, the energy produced and the related economic benefits are the prerogative of ENERGRED.
- ENERGRED restores and operates at its own expense the production facility at no charge to the Municipality for the duration of the concession.
- ENERGRED pays the municipality an annual concession fee - The energy produced will be sold at the Minimum Guaranteed Prices (MGAs) to the GSE.
PHASE 2:
- Completion of the technical/economic feasibility study to increase revenues by 2x compared to PHASE 1 through the local use of the energy produced.
THE nZEC COMMUNITY
An nZEC© (Nearly Zero Energy Community) is a community where energy consumption related to human activities and human comfort needs is efficient and the difference between energy used locally and energy locally produced from renewable sources is close to zero.
An nZEC© community is a more supportive community because it is:
Richer: economic resources spent on energy supply remain in the local area.
More dynamic: short- and long-term employment opportunities are created.
Freer: it does not depend on the outside world for its energy.
More responsible: it does neither emit nor must offset CO2 generated by its activities.
More attractive: both for investors and for clients.
ENERSCORE - WHAT'S THE RATING?
Ener2Crowd provides a normalized parameter called "EnerScore" that is assigned to each individual investment proposal. This parameter defines a GLOBAL RATING that objectively, completely and comprehensibly summarizes all the data characterizing the project. [...] (Register now to learn more!).
CORRECTION FACTOR OF THE INTEREST RATE
In recent months, the global socio-economic environment is leading to a sharp rise in inflation, that is, the sustained increase in the average price level of goods and services. For this reason, the ECB is planning to raise rates on mortgages and loans with the aim of preserving consumers' purchasing power.
In this situation, Ener2Crowd also chose to include the so-called interest rate "Correction Factor" (Fc), with the aim of adjusting interest rates (and thus rates of return for investors) due to the variability of the overall mortgage situation.
HOW THE Fc FACTOR IS APPLIED [...] (Register now to learn more!)
THE PLACE OF THE INTERVENTION
The hydroelectric power plant of Villetta Barrea is located in the municipality with the same name, in the province of L'Aquila (AQ).
ENERGRED POWER PLANT S.R.L.
EnergRed Power Plant S.r.l. is a Vehicle Company of EnergRed S.r.l.; it will handle the revamping works and take over the over 30-year concession of the Villetta Barrea (AQ) hydroelectric power plant.
EnergRed S.r.l. is an Energy Service Company (ESCO) that designs, develops and operates systems and plants for the production of energy from renewable sources, providing its Clients with sustainable, reliable and long-lasting solutions. EnergRed's services cover four areas:
Energy audit and feasibility studies
High-quality engineering and design
Construction of complex systems and facilities
Energy resource management
EnergRed is composed of experienced professionals from leading companies in the engineering, industry and communications sectors, certified according to UNI CEI 11339:2009 (EGE).
THE OPINION OF THE ANALYST
ENERGRED POWER PLANT S.R.L. is a newly formed special purpose vehicle (12/04/2021) whose main activities are high-tech consulting in the energy sector, development, production and management of innovative software, among others. The company was established by ENERGRED D&C S.R.L., operational since 2019, whose purpose is purely financial, while the designing part is carried out by ENERGRED S.R.L. [...] (Register now to learn more)
CONTRACTUAL STRUCTURE
Investors sign a loan agreement with Energred Power Plant S.r.l. lending money to the Company, which has acquired from the Municipality of Villetta Barrea the 30-year concession for the operation of the hydroelectric power plant, winning the Call for Tenders as Proponent (Legislative Decree 50 of 18/04/2016).
The type of the contract is a Purpose Loan: Energred Power Plant undertakes to use the funds received from the Investors exactly as set out in the Project illustrated in the public offering and not to divert them for other purposes.
COST STRUCTURE
The total cost expected for the revamping works of the hydroelectric power plant and for the implementation of the nZEC are €745.000. The minimum financing objective set by Ener2Crowd will cover 38% of the Capex, while the maximum financing objective will cover 54% of the total Capex.
In the following graph, the allocation of costs relative to the revamping part are shown:
AMORTIZATION SCHEDULE
The amortization schedule anticipates the return of the principal exclusively in the last installment. The Proponent will pay semi-annual installments including the interest accrued, equal to €14.000.
The following amortization schedule by Energred Power Plant S.r.l. is calculated with an interest rate of 7% for a total of €400.000.
*gross of withholding tax.
WHAT ARE THE ENVIRONMENTAL BENEFITS OF THE PROJECT?
In this section you can view the ENVIRONMENTAL BENEFITS resulting from the project, and the positive effect that YOUR CONTRIBUTION can generate.
The capacity of the turbine unit in the hydroelectric power plant will be 250 kW, with an annual production of about 1,000,000 kWh.
The energy produced will cover the energy needs of the municipality (902,000 kWh), with the possibility of becoming Italy's first nZEC© (Near Zero Energy Community).
HOW CAN WE TRANSLATE THESE SAVINGS?
A production of 1.000.000 kWh of electricity every year is equivalent to:
Saving 430.000 kg of CO2 in the atmosphere every year.
Planting 43.000 trees, a number that could cover 219 soccer fields.
Avoid the emissions of 301 automobiles every year.
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