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Kroma 1

MOZAÏK Energies
Issuer's Country FlagFrance

Kroma 1

MOZAÏK Energies
Issuer's Country FlagFrance

Financing of six photovoltaic power plants developed by MOZAÏK Energies

MOZAÏK Energies, a French company founded in 2021, specializes in the development of photovoltaic projects. It is currently seeking to finance the development of six photovoltaic projects with a total capacity of 52.5 MWp. To this end, MOZAÏK intends to raise 2.5 million euros in two tranches of 1.25 million euros each, via its Kroma 1 vehicle.

The offer

Details and characteristics of the offer

Details of the offer

MOZAÏK Energies has raised funds to finance the development costs of six ground-mounted photovoltaic power plant projects, three of which are agrivoltaic, located in mainland France. The funds will be managed by KROMA 1, a 100%-owned subsidiary of MOZAÏK Energies, dedicated to the development of these projects. Total financing required is estimated at 3.332 million euros. The bonds have a four-year maturity and an interest rate of 8.25% per annum.

Specifications

Available
PEA-PME
There is/are
10 days left
Min investment
€10
Max investment
€1,273,820
Unit value
€10
Interest payment
annualized
Participatory funding rankings
See documentation

Investment phases

Starting Thursday 04 July 2024 12h30
  • Investment open to everyone
Until Sunday 28 July 2024 12h30

End of project financing

The closing date for contributions may be extended at the request of the project owner.
The return on your investment will be calculated from the date the subscription certificates are generated, i.e. once all the funds have been received and the legal documentation has been signed by the project owner.

Resources

DocumentsAnnexesRisks

Simulator

If I invest

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Investment simulation
Kroma 1 - Obligation 8.25%/year over 4 years - PEA-PME
Simulation - Rate : 8.25% / year on 4 ans

Initial investment:

€1,000

Repayments and interest:

€1,330

In 4 transfers

DateInterest*CapitalAmount
28/07/2025€82.5€0€82.5
28/07/2026€82.5€0€82.5
28/07/2027€82.5€0€82.5
28/07/2028€82.5€1,000€1,082.5
Total€330€1,000€1,330

The result presented is not a forecast of the future performance of your investments. It is only intended to illustrate the mechanics of your investment over the investment period. The evolution of the value of your investment may vary from what is shown, either increasing or decreasing.




The project

What will your investment fund?

The portfolio of projects to be developed by MOZAÏK Energies includes six ground-mounted photovoltaic power plants, with outputs ranging from 4.5 MWp to 17 MWp. The total capacity of the portfolio is 52.5 MWp, with an estimated yield of 1,155 kWh/kWp/year. The projects developed can be refinanced by bank debt or equity, or ultimately sold once ready for construction, thus ensuring repayment of the debt.

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Impact

What positive impact will your investment have?
Project dimensions
6 projects
Installed capacity
52.5 MWp
Annual production
60644 MWh
CO2 emissions avoided
59795 tons / year
Equivalent power consumption
For €1000 invested, 10645 kWh per year
Equivalent power consumption
More than 27073

Project owners

Who will implement the project?
MOZAÏK Energies
Issuer's Country FlagFrance

MOZAÏK Energies is a French company specializing in the development of photovoltaic projects with or without storage, founded in 2021 by Charlotte Moyeux and Anthony Dequeant. These two renewable energy professionals each have over 12 years’ experience in the sector. MOZAÏK Energies is involved from A to Z: from land prospecting to plant operation, including studies, park design, and legal and financial structuring. Eventually, MOZAÏK intends to take over the construction and maintenance of its assets.

In 2022, the company strengthened its long-term growth capacity by acquiring a stake in Galileo, a European company active in the development of renewable energy generation assets. Galileo is a platform co-founded in 2020 by four long-term pension and infrastructure institutions, which have already committed to investing around €220 million. Galileo has an expanding pipeline, with over 12 GW of solar and wind projects and energy storage solutions spread across eight European countries by early 2024. In addition to its financial contribution, Galileo provides valuable technical and financial expertise to the MOZAÏK Energies teams.




Mozaïk Energies is involved in various types of photovoltaic power plant, including ground-mounted plants, agrivoltaic projects, installations on buildings or shaded areas, and floating power plants. In addition, MOZAÏK Energies develops energy storage projects, whether coupled with photovoltaic power plants or stand-alone.




Based near Lille, MOZAÏK’s activities are concentrated throughout France, with a strong presence in north-eastern France. In full expansion, the company will soon be opening a branch in Montpellier.




MOZAÏK Energies also strives to maintain a strong local presence, working closely with stakeholders and local businesses.

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Our analysis

What are the risks and proposed mitigation measures?
Download our full analysis

Risk overview

Construction risks

Connection

Risk that the connection to the distribution or transmission network has not been completed or is not approved by the relevant authority before the planned date of commercial operation.

Mitigation methods

The project developer uses network capacity mapping tools to identify the most suitable solutions and potential areas for connection without network reinforcement.

Counterparty risk

Counterparty / Default

Risk of default by the counterparty on the purchase of electricity, which would jeopardize the project's cash flow.

Mitigation methods

In the event of default, a pledge of 100% of Kroma 1's shares has been put in place to protect investors.

Development risk

Authorizations

Risk relating to authorizations issued to the company and land, and third-party appeals against authorizations issued.

Mitigation methods

This risk relates to the authorizations issued and any appeals from third parties. MOZAÏK Energies has an experienced team, and the technical and environmental studies carried out have not raised any major points of concern. In addition, in 2022, MOZAÏK Energies had its development method audited by the firm Syneria to detect any points of attention. The audit, which focused on project location identification, yield estimates and feasibility studies, judged the methodologies to be complete and even slightly above average in terms of the criteria assessed.

Refinancing risk

Refinancing

Credit risk related to the company's ability to refinance and meet its debt obligations.

Mitigation methods

Refinancing in the form of bank debt or equity is envisaged by the project owner, who wishes to retain the assets developed. Projects may be sold as they reach the "ready-to-build" stage in order to service the Enerfip debt.

Regulatory risks

Applicable regulations

Risk of changes in regulations applicable to the sector, involving reductions in subsidies or new taxes with a significant impact on project revenues.

Mitigation methods

The project developer uses a fine-tuned approach to land selection. In particular, for its agrivoltaic projects, MOZAÏK Energies builds its project around the farm which, through the agrivoltaic project, can extend, pass on and develop its activity. This is a sustainable approach that complies with current legislation.

Investing in this participatory financing project involves risks, including the risk of total or partial loss of the capital invested. Your investment is not covered by the deposit guarantee schemes established in accordance with directive 2014/49/EU of the European Parliament and of the Council. Your investment is also not covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council. Return on investment is not guaranteed. This is not a savings product, and we recommend that you not to invest more than 10% of your net assets in participatory finance projects. You may not be able to sell the investment instruments when you wish. If you are able to sell them, however, you may incur losses.

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