Orkane finances the development of 15 rooftop photovoltaic projects in France
Orkane, through its company Solskin 7, is planning to develop 15 photovoltaic power plants in France, with a total capacity of 5.8 MW. The company has solid experience in renewable energies, and covers the entire value chain. This financing will enable the plants to be developed and built, with revenues guaranteed by 20-year power purchase agreements.
The offer
Orkane launches a fundraising campaign for the Solskin 7 project, aiming to raise 1,350,000 euros. The subscription period runs from July 19 to August 16, 2024.
The bonds offer a fixed annual interest rate of 7.5%, rank junior and have a maturity of four years, with the option of early redemption after two years. For the security of investors, 100% of Kyrro 2 securities will be nantised.
The bonds issued by Kyrro 2 will be refinanced at maturity by equity provided by the parent company: Orkane.
Specifications
Investment phases
- Reserved Salariés et partenaires Orkane
- Open to all
End of project financing
Resources
Simulator
Investment simulation
Solskin 7 - Obligation 7.5%/year over 4 years - PEA-PME
Simulation - Rate : 7.5% / year on 4 ans
Initial investment:
€1,000
Repayments and interest:
€1,300
In 4 transfers
| Date | Interest* | Capital | Amount |
| 29/08/2025 | €75 | €0 | €75 |
| 29/08/2026 | €75 | €0 | €75 |
| 29/08/2027 | €75 | €0 | €75 |
| 29/08/2028 | €75 | €1,000 | €1,075 |
| Total | €300 | €1,000 | €1,300 |
*Gross interest before tax, including all fees (view taxation) 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
The Solskin 7 project involves the installation of 15 rooftop photovoltaic power plants, with shading and floating installations, for a total output of 5.8 MWp.
These plants will be located in France, mainly in the South-West and around Limoges. They will benefit from 20-year power purchase agreements, ensuring stable revenues. Development is well advanced, with building permits obtained or in the process of being obtained.
The total project cost is estimated at 8.610 million euros, financed by a senior debt of 7.295 million euros and a mezzanine financing of 1.350 million euros via Enerfip.
The funds raised will be injected into the Solskin 7 project company via a partners’ current account, supervised by the Kyrro 2 development holding company. This strategy ensures optimal use of funds for the development and construction of the power plants.
The company has already obtained 10 building permits and secured 10 feed-in tariffs. The feasibility study phase has been completed.
*Martinot project, Solkin 1 *
The photovoltaic plants in question already benefit from 20-year feed-in tariffs.
Impact
Project owners
FranceFounded in 2021, Orkane, the company behind the Solskin 7 project, is based in Rennes and Toulouse. Specializing in the development and operation of photovoltaic projects, Orkane manages all stages from development to operation, including design, financing and construction.
Led by three co-founders with over 30 years’ experience and having built more than 800 MWp of projects, Orkane’s team today numbers 22 full-time employees, reflecting its ability to manage large-scale, complex projects.
Orkane takes a long-term view, integrating future challenges such as storage, controllability, cost optimization, low carbon impact, predictability and cybersecurity. This approach guarantees that power plants will be efficient and profitable from the moment they are commissioned, and adapted to changes in the energy market.
Orkane focuses on the conservation and optimization of equipped power plants. Orkane also operates 50% of its business in customer service along the value chain of creating all types of photovoltaic projects, adding a new dimension to its business model and increasing the company’s stability and revenues.
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
A technical and financial proposal for connection to the grid by Enedis has been obtained for most of the projects in the portfolio.
Construction risks
Risk of construction delays or failure to complete the work
Mitigation methods
The team of the company carrying the project (Orkane) has recognized know-how and experience in the realization of this type of project (over 100 MWp) of developed and built projects.
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
The business plan forecasts strong cash flows over the life of the bonds. Cash available for debt servicing is significant over the life of the project. The minimum DSCR of 1.15x is considered satisfactory and will facilitate bank refinancing if required.
Regulatory risks
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
Land has been secured for all projects. Building permits have been obtained for 10 projects. Feasibility studies have been carried out and have not raised any major concerns.
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.
