At the end of 2023, Enerfip closed a first fundraising round of 4,000,000 EUR, intended to finance the construction of five of the six planned projects (excluding Vép). This issuance, carried out through the Enerfip platform, was structured with the express possibility of carrying out a subsequent complementary issuance, referred to as the “Subsequent Issuance.” According to the terms set out in the Issuance Contract signed on August 29, 2023, the issuer (Evacaedum, S.A.) is authorized to carry out these subsequent issuances without the need for prior new authorization, provided that the economic and legal conditions of these new issuances are substantially similar to those of the initial issuance. This contractual flexibility allows for anticipating a second fundraising within an 18-month period without requiring new validation from the initial investors.

For this second fundraising, ID Energy is offering an investment opportunity in the refinancing of six operational photovoltaic projects.

The simple bonds issued under this offering carry a fixed annual interest rate of 8.00% with abullet repayment structure over a 18-month term (starting from the closing date of round 1). Interest will be paid annually. The bonds are governed by Spanish law.

The envisaged repayment strategy is based on a future structural refinancing, which will be initiated once the overall portfolio reaches sufficient scale to secure more competitive, long-term financing aligned with the mandates of institutional investors. Alternatively, the repayment may be executed through the divestment of the underlying assets, whose projected market value significantly exceeds the current outstanding debt.

As security, 100% of the shares of Apatita Solar SL—the legal owner of the six photovoltaic projects—will be pledged in favor of the bondholders.