Finance a rooftop self-consumption photovoltaic plant
The DataSun Ceuta project, led by the Avangreen group, aims to refinance a 2.8 MW rooftop self-consumption photovoltaic plant, already built and located in the port of the autonomous city of Ceuta. This installation is the largest solar plant in a European port.
The project has been declared strategic by the Assembly and Government of the Autonomous City of Ceuta. The electricity produced will be fully consumed by the city’s digital infrastructures, including a future data center, as well as by public companies in Ceuta, particularly for public vehicle fast-charging infrastructures.
Through its SPV Optimal Capital Management, the Avangreen group is launching an initial financing tranche of €2,000,000, which can be extended within a global fundraising target of €3,500,000.
A bond issuance for refinancing a rooftop self-consumption photovoltaic plant
De aanbieding
A bond issuance for the refinancing of a self-consumption photovoltaic plant.
Financing Offer
The Avangreen group offers an investment opportunity in a 2.8 MW rooftop self-consumption photovoltaic plant, already built and located already built and located in the city of Ceuta.
- The electricity produced will be fully purchased by two strategic actors:
- The city’s digital ecosystem, led by a future data center and an AI incubator.
The public companies of Ceuta, to supply various uses, notably the fast-charging stations for public electric vehicles.
This first financing tranche, launched by Avangreen through a crowdfunding operation,aims to raise €2,000,000, in the form of senior debt.
Additionally, a refinancing plan is being structured to refinance both the photovoltaic plant and the future data center once it has been built and commissioned.
Investment Structure
The Avangreen Group owns 93% of the company Optimal Capital Management, which manages the assets to be financed. The remaining shareholders are local minority partners.
It is this company, Optimal Capital Management, that will issue the bonds as part of this fundraising round.
Project Guarantees
To secure the investment, several guarantees are planned:
- Pledge of 92.5% of the issuer’s share capital
- Mortgage over the concession related to the photovoltaic plant or, alternatively, a guarantee issued by the parent company
- Escrow account
- Pledge over the project’s bank accounts
- Pledge over receivables (credit rights)
This mechanism will be lifted once the guarantees of the two PPAs (City of Ceuta + Data Center) are fully effective.
Specifications
Investment phases
- Investering open voor iedereen
Einde collectie
Resources
Simulator
Investeringssimulatie
DataSun Ceuta - Obligation 8,5%/jaar over 3 jaren
Simulatie - Tarief: 8,5% / jaar op 3 ans
Initiële investering :
€ 1.000
Aflossingen en rente :
€ 1.255
In 3 termijnen
| Datum | Interesses* | Kapitaal | Bedrag |
| 08-06-2026 | € 85 | € 0 | € 85 |
| 08-06-2027 | € 85 | € 0 | € 85 |
| 08-06-2028 | € 85 | € 1.000 | € 1.085 |
| Totaal | € 255 | € 1.000 | € 1.255 |
*Brutorente vóór belastingen, alle kosten inbegrepen (zie belasting) De gepresenteerde resultaten zijn geen voorspelling van de toekomstige prestaties van je beleggingen. Het enige doel is om de mechanismen van je belegging gedurende de beleggingsperiode te illustreren. De prestaties van je belegging kunnen afwijken van de getoonde resultaten, zowel naar boven als naar beneden. | |||
Het project
The Project
Located in the port of Ceuta, this project includes a rooftop photovoltaic self-consumption plant that is key to the region’s sustainable development.
Before the construction of this plant, Ceuta was the only region in Spain without renewable energy. This investment promotes the decarbonization of the Autonomous City and aligns with both national and European clean energy policies.
Ceuta benefits from a unique strategic location in North Africa, and has firmly positioned itself as a digital bridge between Europe and Africa through the strategic plan developed by the Government of the Autonomous City. Ceuta has already become a significant digital hub, experiencing over 300% growth in the last 5 years, driven by growing demand and supported by a highly favorable tax regime. The city is connected to the European network via already operational undersea cables.
The city’s digital ecosystem will be greatly expanded by the sustainable data center promoted by Avangreen, and the AI incubator promoted by the Ceuta Chamber of Commerce. Both infrastructures are scheduled to open in 2026.
Additionally, the Ceuta port solar plant will serve as a base to supply clean energy and support the decarbonization of other city services, focusing on both land and maritime sustainable mobility. The port of Ceuta is poised to become a benchmark for zero-emission operations and a pioneer in sustainable transport.
Technical and Financial Highlights
- Project type: Rooftop self-consumption photovoltaic plant
- Installed capacity: 2.8 MW
- Estimated annual production: 5,250 MWh (average over 20 years)
- Construction status: Completed
- Total CAPEX: €4.9 million (including charging stations)
- Average OPEX: €352,000/year (over 10 years)
- Surface area: 12,000 m²
- Land type: 30-year public concession in the Port of Ceuta
- Annual rent: approx. €50,000/year (indexed to CPI)
Business Model
Two long-term Power Purchase Agreements (PPAs) are planned:
- 40% of production: sold to Procesa, a public entity linked to the City of Ceuta, to power public EV charging stations, at €420/MWh for 30 years
- 60% of production: sold for consumption by the data center and digital infrastructure currently under construction, at €100/MWh for 25 years
De projecteigenaars
Founded in 2006 by Beatriz López and Manuel Gómez, two professionals with experience in large international companies in the energy, technology, and consulting sectors, Avangreen is a Spanish company specializing in the development of innovative and customized energy solutions.
Its main activity covers engineering, project development, and the construction of electrical installations and automation solutions, with a strong focus on renewable energies and the energy transition.
Over the years, Avangreen has developed a consolidated experience in the construction of large-scale photovoltaic solar plants, having completed more than 350 MW of engineering and delivered more than 150 installations as an EPC contractor (engineering, procurement, and construction).
The company also operates in the following fields:
- Energy efficiency
- Sustainable mobility solutions and self-consumption
- Design and supply of specific components for solar installations
- E-houses (prefabricated modular electrical units), with more than 500 units delivered to date
- Data centers, offering comprehensive solutions from electrical power supply to thermal regulation
Based on a family and independent model, Avangreen relies on an agile approach, combining technical experience, innovation, and a deep understanding of the needs of its industrial and institutional clients.
The Project Promoter in Numbers
+18 years
of activity in the field of R&D and technology
18 countries
presence in Europe, the Middle East, Africa, and the United States
+500
e-houses delivered to the industrial sectors
+350 MWp
of capacity in engineering and construction
20 data centers
development and investment in clean power plants in the Spanish market.
Onze analyse
Risk overview
Tegenpartijrisico
Risico van wanbetaling door de tegenpartij die de inkomsten van het project in gevaar zou brengen
Mitigation methods
El principal riesgo recae sobre el precio fijo y la puesta en operación del contrato de compra de electricidad con la ciudad de Ceuta. A día de hoy, el PPA con Procesa (Ciudad de Ceuta) está en negociación y debería firmarse antes de finales de 2025. El segundo PPA está firmado con el centro de datos. Estará operativo una vez que el centro de datos entre en funcionamiento (mediados de 2026). Para mitigar este retraso, el promotor del proyecto está de acuerdo en establecer una cuenta de reserva (escrow account) para cubrir los primeros pagos de intereses. Este mecanismo se eliminará una vez que se haya efectivizado el gravamen de estos dos contratos de PPA (Ciudad de Ceuta + Centro de Datos).
Landenrisico's
Risico van beleidsverandering
Mitigation methods
La ciudad de Ceuta forma parte de la jurisdicción española y, por lo tanto, de la jurisdicción europea, a pesar de su ubicación en territorio marroquí. Además, los organismos institucionales respaldan este proyecto tanto a nivel europeo (subvenciones) como local (la sociedad de la ciudad de Ceuta, Procesa, parte interesada en el proyecto).
Herfinancieringsrisico
Kredietrisico met betrekking tot het vermogen van het bedrijf om haar schuldverplichtingen te herfinancieren en na te komen.
Mitigation methods
La estrategia de refinanciación se ha establecido a través de una refinanciación bancaria en 3 años, que coincide con la puesta en marcha del centro de datos. El principal riesgo asociado a la refinanciación es que el centro de datos nunca se termine. En este caso, el problema no es la capacidad de reembolso (el proyecto podría reembolsar una refinanciación conforme a los estándares del mercado), sino el volumen total de la deuda, que podría ser considerado demasiado bajo para resultar interesante para un socio bancario a largo plazo.
Marktrisico
Dit risico kan bijvoorbeeld worden veroorzaakt door een verandering in de macro-economische omstandigheden, een afname van de vraag in de sector waarin het equity crowdfunding project actief is en afhankelijkheden van andere sectoren
Mitigation methods
Bedrijfsrisico's
Risico van slechte projectuitvoering, gebrekkig vakmanschap of machinebreuk met slechte prestaties tot gevolg
Mitigation methods
Avangreen será el operador de esta planta y también se encargará del mantenimiento. El contrato garantiza la disponibilidad de la planta, con fuertes penalizaciones en caso de no cumplir con los plazos establecidos. También incluye el mantenimiento correctivo.
Investeren in dit equity crowdfunding project brengt risico’s met zich mee, waaronder het risico van geheel of gedeeltelijk verlies van het geïnvesteerde kapitaal. Je investering wordt niet gedekt door de depositogarantiestelsels die zijn ingesteld in overeenstemming met richtlijn 2014/49/EU van het Europees Parlement en de Raad](https://eur-lex.europa.eu/legal-content/NL/TXT/HTML/?uri=CELEX:32014L0049). Je belegging valt ook niet onder de beleggerscompensatiestelsels ingesteld in overeenstemming met Richtlijn 97/9/EG van het Europees Parlement en de Raad. Rendement op je investering is niet gegarandeerd. Dit is geen spaarproduct en we adviseren je om niet meer dan 10% van je nettovermogen te beleggen in crowdfundingprojecten. Het is mogelijk dat je de beleggingsinstrumenten niet kunt verkopen wanneer je wilt. Als je ze wel kunt verkopen, kun je nog steeds verlies lijden.
