Incidences continues the development of its collective self-consumption portfolio and launches a 3rd citizen fundraising campaign of 1.1 M€
This operation is part of the continuity of the first two tranches, which have raised more than €1.8M. With this new fundraising, Incidences confirms its commitment to sustainably involving citizens and territories in the financing of renewable energy projects.
The SolAir Partagé operation is based on a strong conviction:
• The acceptability of projects through open dialogue with territories, • Sharing value with public and private stakeholders, • The provision of local, green, decarbonized, and competitive energy for the benefit of all.
As part of this new fundraising, Enerfip has obtained for its investor base the first-ranking pledge of the shares of the company Incisol Dev 2, owner of the portfolio of projects under development that has gained in maturity.
The offer
51 MWc of photovoltaic projects and 8 MW of wind power in France, all offering collective self-consumption operations.
Objective
Following the closure of its first two tranches in July 2025 and November 2025, this third tranche of crowdfunding aims to raise €1.1M to support the development of the project portfolio of InciSol Dev 2, a subsidiary of the Incidences Group.
Use of Funds
The funds raised will cover the development costs of the projects. This includes the costs associated with obtaining the necessary authorizations, site preparation, and other expenses related to project development, thus allowing the continuation of their development and preparation for the construction phase.
Repayment
Repayment of the funds is planned through bank refinancing once the projects reach the “ready-to-build” stage. Once at this stage, Incisol Dev 2 will obtain bank financing to cover the construction costs, and this financing will be used to repay the obligations issued during the initial fundraising.
It is worth noting that the repayment of this collection may, at the request of the project holder, be extended by one year. The rate would thus increase from 8.5% to 9.5% for this additional year.
Project Strengths
Enerfip has obtained for its investor base a first-rank pledge on the securities account of Incisol Dev 2. After applying the market valuation assumptions detailed in the analysis note, the portfolio of projects held by Incisol Dev 2 has been valued at €8.4 million. As part of the pledge, an LTV (Loan To Value) of less than or equal to 40% has been agreed, meaning that the issuing company commits to maintaining a ratio of less than or equal to 40% of the portfolio value. With a bond issue of €3 million and a valuation of €8.4 million, the LTV ratio is currently at 36%. In case of disruptions in the development of a project, Incidences will compensate for the variation in the LTV ratio by adding a project with similar characteristics.
Specifications
Investment phases
- Investment open to everyone
End of project financing
Resources
Simulator
Investment simulation
SolAir Partagé T3 - Obligation 8.5%/year over 3.4+1 years
Simulation - Rate : 8.5% / year on 4.4 ans
Initial investment:
€1,000
Repayments and interest:
€1,374
In 5 transfers
| Date | Interest* | Capital | Amount |
| 02/02/2027 | €85 | €0 | €85 |
| 02/02/2028 | €85 | €0 | €85 |
| 02/02/2029 | €85 | €0 | €85 |
| 02/02/2030 | €85 | €0 | €85 |
| 02/07/2030 | €34 | €1,000 | €1,034 |
| Total | €374 | €1,000 | €1,374 |
*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
As part of its mission to develop renewable energy projects, the Montpellier-based company Incidences, founded in 2022, continues its concrete initiative with InciSol Dev 2. After a first round of crowdfunding that raised 1.1 M€ in July 2025 and a second round of 788,000 euros, the company is now opening a third round of 1.1 M€, as part of an overall goal of 3 M€.
List of projects funded in T1
This initiative aims to finance the development of a portfolio of projects, mostly dedicated to collective self-consumption operations. The ambition is to produce local, green, and shared electricity, whose first beneficiaries will be the citizens, municipalities, and businesses of the territories.
Projects funded in T2
The portfolio currently represents a cumulative capacity of 59.7 MW (including 8 MW of wind power) for a current valuation of 8.4 M€. The funds raised will enable the continuation of key development steps: obtaining permits, site preparation, and administrative procedures until construction begins.
All projects developed will be ground-mounted PV projects located on unused municipal lands that can allow the development of a new agricultural activity or perpetuate the functioning of an existing activity (grazing, various crops, etc.).
To secure the issuance of the bonds, a first-rank pledge of the titles of the company InciSol Dev 2 has been put in place. The company also commits to maintaining a Loan to Value (LTV) ratio of 40% for the entire portfolio.
The repayment of the funds is planned through bank refinancing when the projects reach the “Ready To Build” (RTB) stage, the moment when Incidences can mobilize construction financing to repay the bonds subscribed by investors.
With the expertise of a multidisciplinary team, Incidences ensures the management of its projects, from their development to their construction, operation, and dismantling.
It stands out in particular for its ability to develop innovative collective self-consumption projects, designed in close collaboration with the territories, ensuring their acceptability and embedding the entire approach in a citizen and sustainable dynamic.
Project owners
Who are we?
Committed player in renewable energies, Incidences was born out of the common passion and complementary expertise of recognized professionals/former senior executives in the renewable energy sector.
Driven by a shared vision, they founded Incidences with the ambition to create a structure capable of designing and carrying out projects adapted to the challenges and specificities of each territory/territorial planning policy.
Joined by several experienced partners, they cultivate a custom solution development approach with an expert and committed team now composed of about twenty people spread across mainland France.
Leaders, shareholders and advisors
Incidences, the association of renewable energy experts
Séverine Pasquinet, General Manager and Co-founder of Incidences
After a significant career at EDF Renewables, where she managed the development of more than 1,000 MW of wind and solar projects, she held the position of Deputy Development Director from 2015 to 2021, overseeing a team of 80 people. Séverine led the Toulouse agency, developing the Gabardan photovoltaic power plant, the largest in France at the time. In addition to her extensive expertise, she now specializes in agriphotovoltaics, integrating renewable energies into agricultural practices.
David Augeix, President and Co-founder of Incidences
Recognized for his pioneering role in renewable energies in France since 2000, he initiated emblematic projects such as the first wind farms in Hérault and the first solar power plant in Narbonne. His career includes the development and realization of numerous renewable projects at EDF Renewables, covering a vast territory from Bordeaux to Bastia, and from Cayenne to Saint-Denis-de-la-Réunion. Among his notable achievements are the Catalan Wind Farm and the Toucan solar power plant in French Guiana with its innovative storage unit. David is also very involved in the representative bodies of the profession such as DERBI, the regional competitiveness cluster, or the SER, the Renewable Energy Syndicate.
Julien Garçon, General Manager and Co-founder of Incidences
A career entirely dedicated to renewable energies, he began over 20 years ago as a wind project manager in northern France, contributing to the development of the first wind projects. He then worked at Vestas, the world's leading wind turbine manufacturer, where he specialized in sales, operation, and maintenance. Joining EDF Renewables in 2009, he became a wind and photovoltaic project manager, then Investment Project Director, managing a portfolio of projects with a total capacity of 310 MW and an investment of over €400 million. In 2019, he became General Manager of LUXEL, significantly increasing financial results while winning over 200 MW of photovoltaic projects in the CRE tenders.
Alexandre Ledoux, Director of Financing and Transactions
Alexandre Ledoux began his career in 2012 at Urbasolar, in charge of financing and M&A operations. After structuring the financing of approximately €1 billion of PV and concentration projects in France, in the DOM-TOM with storage, and in Kazakhstan, Burkina Faso, and the Dominican Republic, Alexandre joined the COMEX of the Reden group in charge of financing in 2023. He contributes to the implementation and monitoring of the group's financing in its different geographies in Europe and South America.
Jean-Marc Armitano, shareholder
Entrepreneur and investor, Jean-Marc Armitano benefits from nearly 3 decades of experience in renewable energies. He co-founded Eole Technologie in 1995 before leading EOLE-RES in France and then the Europe/Africa/Middle East/Asia-Pacific region of the British group RES, one of the pioneers and world leaders in the sector. He was one of the co-founding shareholders of the company Urbasolar, one of the main photovoltaic solar companies in France, until its sale in 2019. He has also been an independent director of the company Voltalia, an international operator in the renewable energy sector, listed on Euronext Paris. He has also been heavily involved in the representative organizations of the sector, notably within the Renewable Energy Syndicate, the France Wind Energy association (now France Renewables) and Wind Europe.
Christophe Jurczak, shareholder
Christophe Jurczak is co-founder and director of the investment fund Quantonation, based in France and the United States. The latter is a world leader in the emerging field of quantum technologies with applications, among others, in the finance, energy, materials and medical sectors. After obtaining his doctorate in quantum physics under the direction of the 2022 Nobel Prize winner in physics, Alain Aspect, Christophe began his career in the renewable energy sector: Head of the renewable energy office at the Ministry of Industry, then General Manager of Poweo ENR in France and finally of the solar division of EON Climate & Renewables in Italy and the United States with numerous achievements to his credit in solar and wind. He has kept a particular interest in the energy sector and is actively exploring the impact that the quantum revolution will have on the technologies of the energy transition.
Marc Groves-Raines, shareholder
Marc Groves-Raines has pursued a career dedicated to renewable energies since 1991, in the development, financing, construction, and operation of solar and wind power plants. He began his adventure in renewable energies in the United Kingdom, developing the first wind farms in that country before joining the RES group in 1995 where he was in charge of growing development activities, notably in France and Portugal. He was, in 2005, one of the founding members of the renewable energy team of the company Allianz Capital Partners. During his 15 years at Allianz, this team invested more than 5 billion euros in more than 2 GW of assets under construction and in operation in Europe and the United States. Marc is now engaged in non-executive roles related to renewable energies.
Ambitions
Incidences' offer revolves around renewable energy solutions designed to address the specific challenges of territories and their socio-professional actors.
Thanks to its local anchoring approach, which combines agility, innovation, and listening, Incidences has the ability to adapt and propose projects of different sizes and types, for total sale or collective self-consumption.
Incidences aims to build coherent project portfolios, ensuring the homogeneity of risk profiles, the reproducibility of the developed models, and the achievement of a critical size allowing their sustainability.
Convinced by an approach proven by experience, Incidences aims to hold 1000 MW of ground-mounted photovoltaic solar by the horizon 2030.
Vision
Building a sustainable energy future adapted to local challenges.
Mission
Developing local renewable energy with custom projects
Our analysis
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.
