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
The offer
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
- Investment open to everyone
End of project financing
Resources
Simulator
Investment simulation
DataSun Ceuta - Obligation 8.5%/year over 3 years
Simulation - Rate : 8.5% / year on 3 ans
Initial investment:
€1,000
Repayments and interest:
€1,255
In 3 transfers
| Date | Interest* | Capital | Amount |
| 08/06/2026 | €85 | €0 | €85 |
| 08/06/2027 | €85 | €0 | €85 |
| 08/06/2028 | €85 | €1,000 | €1,085 |
| Total | €255 | €1,000 | €1,255 |
*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 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
Project owners
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.
Our analysis
Risk overview
Counterparty risk
Risk of counterparty payment default that would jeopardize the project's cash inflows
Mitigation methods
The primary risk lies in the fixed price and the operational commencement of the power purchase agreement (PPA) with the City of Ceuta. As of today, the PPA with Procesa (City of Ceuta) is under negotiation and is expected to be signed before the end of 2025. The second PPA has been signed with the data center and will become operational once the data center is up and running (mid-2026). To mitigate this delay, the project developer has agreed to establish an escrow account to cover the initial interest payments. This mechanism will be lifted once the encumbrance of these two PPAs (City of Ceuta + Data Center) has been finalized.
Country risk
Risk of policy change
Mitigation methods
The City of Ceuta is part of Spanish jurisdiction and, therefore, falls under European jurisdiction, despite its location in North Africa. Additionally, institutional bodies support this project both at the European level (grants) and locally (the city of Ceuta's company, Procesa, which is a stakeholder in the project).
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
The refinancing strategy has been structured through a bank refinancing over a 3-year period, which aligns with the commissioning of the data center. The primary risk associated with the refinancing is the possibility that the data center is never completed. In this case, the issue is not the repayment capacity (the project could repay a refinancing in line with market standards), but rather the total volume of debt, which could be considered too low to attract long-term banking partners.
Market risk
This risk can be caused, for example, by a change in macroeconomic circumstances, a decrease in demand in the sector in which the equity crowdfunding project operates and dependencies on other sectors.
Mitigation methods
Operating risks
Risk of poor project operation, faulty workmanship or machine breakdown resulting in poor performance.
Mitigation methods
This risk could be be caused, for example, by a change in macroeconomic circumstances, a decrease in demand in the sector in which the equity crowdfunding project operates and dependencies on other sectors.
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.
