SOLAR PAPILIO S.R.L.

Solar Papilio S.r.l. is a company owned by Green Enesys Group GmbH (managed through the German subsidiary Solar Ambition Europe GmbH) and Viridi RE Development GmbH. With Solar Papilio S.r.l, both companies are developing a photovoltaic solar project of approximately 9.9 MWp in Campania, Italy.

Both developers, Green Enesys and Viridi, share a long successful experience in the development of renewable energy projects worldwide.

Green Enesys is a company founded in 2009 as a developer of renewable energy projects: the main objective is to develop photovoltaic installations worldwide. In the last ten years, over 490 MWp of photovoltaic solar projects have been developed, financed, and implemented.

The Viridi RE Development team has successfully developed renewable energy plants, providing technical advice based on the solid experience gained from more than 15 years in the development and EPC industry.

Green Enesys and Viridi have many years of experience working with municipalities, private entities, and government departments to ensure that all planning and permitting requirements are implemented for project implementation. Together the developers have a local presence in Italy, with a strong presence in Basilicata, Campania, Puglia, Sardinia and Sicily.

THE OPINION OF THE ANALYST

The analysis of the Company proposed for fundraising is the result of the Report provided by EasyFintech S.r.l. - License art. 134 TULPS Prefecture of Milan prot. n. 14795/12B15E of 31/01/2020 - based on calculators of available databases such as Crif, CriBis, CeBi, Cerved, Dun & Bradstreet, InfoCamere and other financial scoring tools that combine traditional analysis (financial, performance, reputational) with statistical methodologies based on Artificial Intelligence, Machine Learning and Data Analysis.

The Company Solar Papilio S.r.l. is based in the Municipality of Campodarsego, in the Province of Padua, and is registered with the R.I. with ATECO code 7490 - "Other professional, scientific and technical activities n.c.a" and has a Sole Administrator, Mr. Carlo Angelo Alberti.

The Company Solar Papilio S.r.l. is a recently established company and, for this reason, the analyst focused on examining the affiliated companies. Indeed, it is not possible to offer a structured and coherent judgment on the Company without examining the companies Solar Ambition Europe GmbH, as well as consequently GREEN ENESYS GROUP GmbH, and VIRIDI RE Development GmbH.

The judgment is as follows:

• The "D&B Rating" powered by dun & bradstreet is a synthetic indicator relating to the consistency and riskiness of a company. The D&B Rating scale is alphanumeric: it includes an initial code with one or more letters, possibly preceded by a number, which evaluates the financial consistency of the company, and a final code of a numerical type (from 1 to 4) which evaluates the riskiness of the company. The riskiness of the company is measured by a failure score and is expressed by the final number of the D&B Rating, which ranges from 1 (minimum riskiness) to 4 (maximum riskiness).
• The Failure Score (or D&B Score) measures the probability of cessation (voluntary or judicial in the presence of unpaid obligations) of a company in the following 12 months. The indicator ranges from 1 (maximum probability of cessation) to 100 (minimum probability of cessation).

Now, as mentioned, the company is owned by the following companies:
• 30% of the share capital belonging to the German law company Solar Ambition Europe GmbH which acts as a sub-holding. The latter, in fact, is in turn wholly owned by the Swiss law company GREEN ENESYS GROUP GmbH which refers to the Premium Investments Group.
• 70% of the share capital held by the German law company VIRIDI RE Development GmbH which acts as a sub-holding within the Group. The latter, in fact, is in turn wholly owned by the German law company VIRIDI RE Development GmbH.

Regarding Green Enesys Group GmbH, the D&B Rating assigns a riskiness of "2" (GG2), which is associated with a lower weak cessation risk than the average. The Failure Score of Green Enesys Group GmbH is 68/100 compared to an average sector Failure Score of 62. The company's age is over 11 years (established on 10.12.2009) and is considered low risk. The commercial sector in which the company operates appears to be stable and has a low risk. In the last 24 months, D&B has not received information on credits due and put into recovery with external agencies.

The above analysis, based on the D&B Rating by dun & bradstreet, places Green Enesys Group GmbH in an area of solvency and low insolvency risk, with a D&B Score of 68/100.

A less positive judgment on the German law company Solar Ambition Europe GmbH, which is 100% controlled by the subholding Green Enesys Group, to which the Business Information company assigns a D&B Score of 24/100 placing it in an area of medium-high risk, higher than average, both due to the lack of company history (established in August 2020) and because no financial statements have been filed yet. No credit investigation could be conducted on the Italian law company Solar Papilio S.r.l. as it is a recently established and currently inactive company.

Continuing along the participatory chain of interest, we finally encounter the company VIRIDI RE Development GmbH. It is also based in Heilbronn, Baden-Württemberg (Germany), it was established on 11/04/2014, has a share capital of 25,000 euros, and its activities include: production of electricity without distribution, engineering activities for projects in specific technical fields, electrical installation, wholesale trade of other machinery and industrial equipment, and other management activities. The company within the Group serves as a subholding for the management of shareholdings held in Italian and Spanish law companies in the renewable energy sector, with a particular focus on photovoltaic solar energy. For Viridi Re Development GmbH, the D&B Rating assigns a riskiness of "2" (2A), which is associated with a lower weak cessation risk than the average. The Failure Score of Viridi Re Development GmbH is 80/100.

CORPORATE STRUCTURE

The Financing Agreement is a purpose loan: Solar Papilio S.r.l. commits to using the funds received from Investors exactly as specified in the Project outlined in the public offering and not diverting them for other purposes.

There is a letter of patronage from Green Enesys Group GmbH.

COST STRUCTURE

The total connection cost for the photovoltaic system is € 1.374.436,73 (including VAT). To proceed with the procedures, it was necessary to pay Enel approximately ~ 30%, therefore € 412.331 (including VAT).

The collection on Ener2Crowd will allow to refinance this amount, in order to continue with the authorization procedures and the development of new projects in Italy.

AMORTIZATION PLAN

The amortization plan provides for the repayment of the Capital only at the last installment. There are quarterly installments with only Interest Amount equal to € 9.000,00

The following amortization plan for Solar Papilio S.r.l. is calculated with an interest rate of 9% for a total of €400.000.

N.B.: The start of the amortization plan is effective from the first available date after the terms of the release have expired, therefore the table shown is a mere simulation containing the first available date in case of campaign completion at its expiration

*before any tax withholdings.

CONFLICTS OF INTEREST

The Relevant Parties, except for the Conflict of Interest Policy Manager and the Crowdfunding Service Provider, who cannot under any circumstances participate in the Crowdfunding Offerings published on the Platform, are authorized to invest in this Crowdfunding Offering on equal terms with all other Investors and without preferential treatment or privileged access to information.

For more information, please consult the policy at the following link

SDGs ACTIVATED BY THE PROJECT

By financing this project, you can contribute to supporting and implementing the following SDGs Sustainable Development Goals:

Why these SDGs?

• SDG 3 improving the health conditions of the community through the accessibility of the structure;
• SDG 7 energy savings generated by efficiency interventions;
• SDG 8 creation of new jobs generated by the activity;
• SDG 11 improvement of the building, the neighborhood, and the city community;
• SDG 12 responsible and efficient use of available resources;
• SDG 13 combating and mitigating climate change with related reduction of GHG.

Become a protagonist of the future and sustainable development by financing this initiative!

PHOTOVOLTAIC

Solar panels are devices that convert solar light into electrical energy. Made up of solar cells containing semiconductor materials, the panels capture photons from the sun and transform them into direct current. This clean and renewable energy can be used to power our homes, businesses, transportation, and industries, reducing environmental impact. In addition to this environmental benefit, there is also a financial one, derived from self-consumption and/or selling the energy produced by the system. Estimates predict over 50 GW of new photovoltaic capacity for European countries. This would put Europe on a path of expansion, with a projected average annual growth of 85 GW by 20261. In 2022, 41.4 GW of photovoltaic installations were installed at the European level, a 47% increase compared to the 2021 figure of 28.1 GW1. Photovoltaics represent one of the most promising renewable technologies to drive us towards decarbonization. Supporting initiatives like these becomes crucial to move closer to a more sustainable future.

WHAT ARE THE ENVIRONMENTAL BENEFITS GENERATED BY THE PROJECT?

It is estimated that the photovoltaic system will have a total annual production of 17,4 GWh per year, which is equivalent to:

                  

Saving 7.489.000 kg of CO2 in the atmosphere every year

                  

Planting 748.900 trees, enough to cover an area of 3.821 football fields

                  

Avoiding the exhaust emissions of 5.237 cars every year

These are the effects and benefits that can also be generated thanks to your contribution!