Fund the development of a portfolio of photovoltaic projects under development in Italy.
The Sunrise Italia project, developed by the Sun Investment Group, aims to finance the development of a portfolio of photovoltaic projects located in Italy, representing a total capacity of 113 MW.
This portfolio is part of the dynamic of the energy transition and contributes to the deployment of renewable energies in the Italian territory.
The Sun Investment Group is seeking to raise a first tranche of €1,600,000, as part of an overall fundraising target of €4,100,000.
Out of the 12 projects in this portfolio, 5 already have a grid connection agreement, corresponding to a total of 41 MW. The rest of the portfolio is in an early stage of development and will be the subject of a second round of financing, subject to Enerfip’s approval.
The offer
Fund the development of 113 MW of solar in Italy
The company Sun Investment Group offers an investment opportunity as part of the financing of the Sunrise Italia project.
The issue is structured through a Spanish issuing company, Sun Investment ES Financial Services 4, as the financial team of Sun Investment Group is present in Spain. The latter is a 100% shareholder of the company SIG PROJECT ITALY 2 SRL which holds the project portfolio.
This fundraising, carried out in the form of senior debt, aims to raise up to 1,600,000 € as part of a first round of crowdfunding.
A second round of financing could be launched, subject to Enerfip’s approval. The securing of network access and land for the rest of the portfolio will be examined by our teams and will constitute a prerequisite for the release of a subsequent tranche.
The repayment of the bonds can take place progressively, as the projects reach their key development milestones and are sold to third parties. Refunding operations can also be implemented according to the progress of the projects:
- Through a bank loan at a more advantageous interest rate;
- Through new financing via Enerfip;
- By an equity contribution from SIG.
The amounts raised will make it possible to finance several key items related to the development of the projects:
- Environmental and urban planning studies;
- Deposits and instructions for building permits;
- Deposits for connections to the electrical network;
- Other investment expenses related to the development phase.
The investors benefit from the following guarantees:
- Pledge of 100% of the shares of the Issuer
- Subordinated corporate guarantee from SIG Italy 2
Specifications
Investment phases
- Investment open to everyone
End of project financing
Resources
Simulator
Investment simulation
Sunrise Italia - Obligation 9.5%/year over 3 years
Simulation - Rate : 9.5% / year on 3 ans
Initial investment:
€1,000
Repayments and interest:
€1,285
In 3 transfers
| Date | Interest* | Capital | Amount |
| 15/10/2026 | €95 | €0 | €95 |
| 15/10/2027 | €95 | €0 | €95 |
| 15/10/2028 | €95 | €1,000 | €1,095 |
| Total | €285 | €1,000 | €1,285 |
*Gross interest before tax, including all fees (view taxation) The dates are indicative. The final dates will be available once the project is officially closed. 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
General Presentation
The Sunrise Italia project, led by the Sun Investment Group, comprises a portfolio of 12 ground-mounted photovoltaic projects located in various regions of Italy, with a combined capacity of 113 MWp.
These projects are developed by the company SIG PROJECT ITALY 2 SRL, wholly owned by Sun Investment ES Financial Services 4 SA, which is also the issuer of the bonds as part of this crowdfunding operation.
Project Locations
Overall Progress Status
Grid Connection:
- 5 projects already have a grid connection agreement
- 1 project is currently in the process
- 5 projects have already applied for grid connection
- 1 project have not yet applied for grid connection
Land: 12 projects have signed land leases
Administrative Authorizations:
- 3 projects have already initiated the procedure
- 9 projects are in the preparatory phase
Portfolio Summary
| Total Number of Projects | Technology | Cumulative Power |
|---|---|---|
| 12 | Ground-mounted photovoltaic | 113 MWp |
Project owners
A leading European solar player in full expansion
Sun Investment Group (SIG), headquartered in Lithuania, is one of Europe’s leading developers of solar photovoltaic projects. Active in 4 countries including Italy, Poland, and Spain, the group controls the entire value chain—from project development to construction, operation, and maintenance. Initially focused on selling its assets once operational, SIG is now shifting towards an Independent Power Producer (IPP) model, retaining its plants to generate steady revenues through electricity sales. This strategic transition involves significant capital investment and greater diversification in funding sources, including opening up to crowdfunding. With over 2.7 GWp in development and more than 200 MWp already operational, SIG is well on its way to becoming a key player in the European renewable energy market.
SUN INVESTMENT GROUP
Sun Investment Group (SIG) is one of the leading solar photovoltaic energy development groups in Europe.
Headquartered in Lithuania, the group currently operates in 4 countries, including Italy, Poland, and Spain, as an Independent Power Producer (IPP) and EPC contractor (Engineering, Procurement, and Construction).
SIG covers the entire solar PV value chain: from development to construction, including operations and maintenance, with the ability to optimize costs and generate value at each stage of the asset lifecycle.
The group’s financing strategy is mainly based on private loans raised from investment funds. This is the first time SIG has used crowdfunding to finance project development.
Previously focused on selling developed/built assets once they reached the “ready-to-build” or operational phase, the group is now shifting to an IPP (“Independent Power Producer”) business model. Assets will be retained to generate regular cash flows from electricity sales. This model requires significant capital expenditures.
Founded in 2017, the group has over 2.7 GWp under development and already operates more than 200 MWp. According to the company, SIG’s asset portfolio is valued at over €80 million.
Our analysis
Risk overview
Construction risks
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
Los equipos de SIG cuentan con un sólido conocimiento técnico y una amplia experiencia en el desarrollo de proyectos fotovoltaicos en Italia. Además, la cartera de proyectos presentada se encuentra en una fase temprana de desarrollo, con algunos proyectos que aún no han obtenido los permisos de conexión. Estos proyectos formarán parte de una segunda ronda de financiación (sujeta a la aprobación de Enerfip). En caso de que el desarrollo de alguno de estos proyectos fracase, el promotor se compromete a sustituirlo por un proyecto similar, en tamaño y en fase de desarrollo, con el fin de mantener el ratio LTV.
Counterparty risk
Risk of counterparty payment default that would jeopardize the project's cash inflows
Mitigation methods
Se contemplan varias vías de reembolso: ya sea mediante la venta de algunos proyectos a medida que se superan las etapas de desarrollo, o mediante aportaciones de capital por parte de SIG. También podrán llevarse a cabo operaciones de refinanciación, ya sea a través de un préstamo bancario con un tipo de interés más ventajoso, o mediante una refinanciación mediante emisiones de bonos a través de Enerfip. En caso de incumplimiento, Enerfip podrá ejecutar la garantía constituida en el marco de esta financiación, es decir, la prenda de las participaciones de la sociedad española que posee los proyectos italianos.
Country risk
Risk of policy change
Mitigation methods
Italia es un país políticamente estable. Sin embargo, el principal desafío sigue siendo el riesgo climático, que el país intenta mitigar mediante infraestructuras adecuadas y el fortalecimiento de las normas medioambientales frente a los desastres naturales.
Development risk
Risk relating to authorizations issued to the company and land, and third-party appeals against authorizations issued.
Mitigation methods
Los equipos de SIG cuentan con un sólido conocimiento técnico y una amplia experiencia en el desarrollo de proyectos fotovoltaicos en Italia. Además, la cartera de proyectos presentada se encuentra en una fase temprana de desarrollo, con algunos proyectos que aún no han obtenido los permisos de conexión. Estos proyectos formarán parte de una segunda ronda de financiación (sujeta a la aprobación de Enerfip). En caso de que el desarrollo de alguno de estos proyectos fracase, el promotor se compromete a sustituirlo por un proyecto similar, en tamaño y en fase de desarrollo, con el fin de mantener el ratio LTV.
Risk of natural disaster
Risk of extreme weather conditions that could impact the profitability of the parks or even destroy them (storms, fires).
Mitigation methods
Italia es un país políticamente estable. Sin embargo, el principal desafío sigue siendo el riesgo climático, que el país intenta mitigar mediante infraestructuras adecuadas y el fortalecimiento de las normas medioambientales frente a los desastres naturales.
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.
