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Days left38
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Annual return9,00%
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Investment duration27 MONTHS
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Investors168
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Min/Max investment300 / 250.000€
WHAT AM I ABOUT TO INVEST IN
The company Hydro Clean S.r.l. is requesting a minimum loan of €200,000 (with a maximum of €250,000) for the development of two photovoltaic plants located in Campania, in the Province of Benevento, in an industrial area.
The amount raised through this campaign will be used to finance the advance payments for the connection estimates of E-Distribuzione, which are necessary to proceed with the authorization phase and project development by the company.
The two ground-mounted plants, which will be built in an industrial area, will have a nominal power of 6 MWp (named "Benevento2") and 3 MWp (named "Paduli2"). The authorization process will take place through the “PAS” Simplified Authorization Procedure.
HOW SUCH PLANTS ARE DEVELOPED
Below are the extremely simplified steps to complete a renewable energy project, in this case a photovoltaic system.
The longest and most complex phase is the authorization process, which varies greatly depending on the region where the authorization is requested. However, the new Simplification Decree (which can be found here ) has streamlined some authorization procedures for all plants under 10 MW.
HOW IS THE INVESTMENT REPAID?
Enel Distribuzione's connection estimates have not yet been accepted and paid. The campaign will allow the company to accept the connection estimates.
The critical issue of the project is the authorization phase, and two possible scenarios have been outlined for reimbursing crowd investors:
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SCENARIO OF FAILURE TO OBTAIN AUTHORIZATION FOR THE CONSTRUCTION OF THE PLANT: In this case, it is possible to request a refund of the amount paid to accept the estimate from Enel Distribuzione, which will return the amount to the company (in fact, no work is carried out by the distributor). With the refund of the estimate, Hydro Clean will proceed with the repayment of capital and interest to investors.
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SCENARIO OF OBTAINING AUTHORIZATION FOR THE CONSTRUCTION: In this case, it is possible to either sell the obtained authorization to specialized funds or proceed with the construction of the plant. This way, the financing will be repaid to investors.
The financing duration has been calibrated to allow the Company to work on the authorization of the plants with adequate timing. Early repayment of the financing to investors is possible in both cases.
Qualitative scoring and financial scoring
ENERSCORE+ & EASYSCORE EXPERT INTEGRATED
Ener2Crowd provides an initial qualitative parameter called "EnerScore+", which is assigned to each individual investment proposal. This parameter defines a SCORING system that objectively, comprehensively, and understandably summarizes all the data characterizing the project from a technical perspective, including an ESG evaluation expressed in CLASSES and a verification of the activated SDGs (Sustainable Development Goals) parameters.
A specific Financial Rating called "Easyscore Expert Integrated" is provided, resulting from the credit analysis conducted by the company EasyFintech, which assesses the reliability and solidity of the creditworthiness of the Project Owner company. EasyFintech S.r.l. is a company that operates as a commercial information reseller with a License under art. 134 TULPS issued by the Milan Prefecture, protocol no. 14795/12B15E dated 31/01/2020.
For the project proposed by the company Hydro Clean S.r.l., the resulting EnerScore+ is 10.22, which corresponds to an ENERSCORE+ BBB , while the Easyscore Expert Integrated, through the Autonomous Guarantee, is classified as LEVEL 4 - SOLVENCY.
Qualitative Scoring – EnerScore+
Elements analyzed:
- Clarity of project objectives and comprehensibility of descriptions;
- Strategic significance of the project;
- Project business plan;
- Clarity of information;
- Technical-project verification;
- Evaluation of the honorability of the Project Owner’s team;
- Historical background and platform experience of the Project Owner, including, if applicable, a track record of timely payment of installments;
- Consistency of the crowdfunding project with the platform’s purposes and mission, particularly in terms of environmental sustainability, innovation, positive territorial impact, service ethics, and social impact;
- SDGs activated by the project;
- ESG report issued by Cerved Rating Agency.
Financial Scoring – Easyscore Expert Integrated
(Data not available for this project as it is a recently established company)
Elements considered for calculating the Easyscore Expert Integrated Report – (classes from 1 to 10 with a score of 0 - 100) compiled by EasyFintech S.r.l.:
- Company structure, ultimate beneficiaries, and reputational analysis;
- Analysis of company executives and associated entities;
- Last three filed financial statements;
- Financial scorings (Crif, CriBis, CeBi, Cerved, Dun & Bradstreet);
- Analysis of InfoCamere databases
- Possible bad news concerning company owners and administrators
- Possible registrations and/or prejudicial transcripts concerning the Project Owner, controlling shareholders, and corporate executives
- Statistical methodologies based on Artificial Intelligence, Machine Learning, and Data Analysis;
- Commercial reliability scoring;
- Bank of Italy Central Risk Database analysis.
NOTE: It is specified that these values represent only an element of consideration that an investor may take into account when deciding to participate in the financing.
INTEREST RATE DEFINITION
In recent months, the global socio-economic context has led to a significant increase in inflation, which is a prolonged increase in the average level of prices of goods and services. The ECB has therefore predicted an increase in mortgage and financing rates with the aim of preserving consumers' purchasing power. The increase in central rates is a macroeconomic policy to counter inflation: the objective of raising rates is to reduce purchasing power by reducing available liquidity for both individuals and companies, to slow down the economy and prevent a continuous uncontrolled rise in prices. . In June 2024, after 5 years, the ECB made an initial rate cut of 0.25 percentage points, followed by another 0.25 percentage points in September and October, with a continuously revised bearish outlook - following macroeconomic estimates, opening up new scenarios in the financial market.
INDEXING TO EURIRS AND EURIBOR INDICES
Just as banks define the interest rate applied to loans, in this case, the interest rate is also tied to the EURIRS index (in the case of a fixed rate) and EURIBOR index (in the case of a variable rate).
THE PLACE OF INTERVENTION
The two photovoltaic plants will be built in Campania in the Province of Benevento in the Ponte Valentino Industrial Zone (BN).
HYDRO CLEAN S.R.L.
The company's primary goal is to promote renewable energy production through planning, feasibility analysis, electrical and structural design, construction, management, and maintenance. All these activities align with its "mission" to contribute to decarbonization and the energy transition, particularly in Southern Italy.
THE CREDIT ANALYST OPINION
The analysis of the company proposing for fundraising is based on the report provided by EasyFintech S.r.l. - License art. 134 TULPS Prefecture of Milan protocol no. 14795/12B15E dated 31/01/2020 - based on available banking database calculators such as Crif, CriBis, CeBi, Cerved, Dun & Bradstreet, InfoCamere, and other financial scoring tools that combine traditional analyses (economic-financial, trend, reputational) with statistical methodologies based on Artificial Intelligence, Machine Learning, and Data Analysis.
Hydro Clean S.r.l. is a special purpose vehicle company established in 2021 with ATECO code 74.9, whose primary corporate purpose is “other technical consulting activities n.e.c., including consulting services in the environmental and energy-saving sector,” specializing in operations involving the development, construction, and management of renewable energy plants. The reference parent company is Luminosa S.r.l. through its controlling entity Patti Chiari S.r.l., which is also the parent company of Hydro Clean S.r.l.The company’s administrator is Lorenzo Pasquale Fasolino, with no negative records found.
Given Hydro Clean S.r.l.'s recent establishment, the analysis was conducted on Luminosa Energia Distribuzione S.r.l. , the parent company, active since 2011, specializing in renewable energy and controlling Patti Chiari S.r.l., which issued the Autonomous Guarantee.
The adopted analysis methodology involves calculating a synthetic risk indicator, called the Easyscore Integrato of EasyFintech S.r.l., obtained through a proprietary algorithm integrating three partial scorings (Easyscore Expert, CeBi Score 4, and CR Score). The Easyscore Integrato of EasyFintech places Luminosa S.r.l. in an area corresponding to the judgment of “Solvency”.
Below is a summary of the analyses of the other partial scorings:
• Cribis D&B Rating: evaluates the company's financial solvency and commercial reliability through the Cribis d&b Rating calculation (Failure score, Delinquency score, Paydex Cribis d&b, negative events). GIFT obtained a Cribis Rating of “2” with a "lower-than-average risk of cessation".
• CeBi Score 4: CeBi analyses provide the calculation of the PD – Probability Default through a certified algorithm used by Italian banks in internal rating systems. The financial statement analysis as of 31-12-2023 classifies the company in class S, corresponding to a Solvency situation with a PD of 0.14%. This class includes 10.70% of companies in the sector INSTALLATION OF MACHINERY AND INDUSTRIAL EQUIPMENT.
• CR Score: provides a summary judgment on the use of credit lines granted by the banking system, as reported in the Bank of Italy’s Central Risk database. The score, calculated over a 12-month period, is reserved but does not indicate any evident criticalities.
These analyses, summarized in the Easyscore Integrato of EasyFintech, place Luminosa S.r.l. in a “Solvency” area.
CONCLUSIONS
Hydro Clean is a purpose-driven company used for the development of renewable energy plants, established in 2021 with recent financial indicators. The reference company and parent company, as mentioned above, is Luminosa Energia Distribuzione S.r.l., which provided the autonomous guarantee in this specific operation.
Luminosa has a long-standing presence in the sector, and its financial statement for 2023 shows improvements in several financial indicators compared to the previous year, with an increase in production value and net profit growth. However, some critical aspects related to the management of operating costs and the company's overall debt must be monitored. Nevertheless, the company has demonstrated a good growth capacity and must carefully manage its financial dynamics to consolidate its market position.
It should be noted that the above indications are only a reference to help investors make an informed and autonomous decision based on their own risk propensity. A thorough evaluation of all available elements is always recommended.
CONTRACTUAL STRUCTURE
The Financing Agreement is a purpose-specific loan: Hydro Clean S.r.l. commits to using the funds received from Investors exactly as outlined in the Project presented in the public offer and not diverting them for other purposes.
An Autonomous Guarantee is provided by the Parent Company Luminosa S.r.l.
COST STRUCTURE
The total connection cost for the two photovoltaic plants is approximately €746,000 (including VAT) in total. To proceed with the procedures, it was necessary to pay Enel approximately ~30%, amounting to €224,000 (including VAT). The minimum fundraising target on Ener2Crowd will cover 26% of the total Capex, while the maximum target will cover 33% of the total amount.
The crowdfunding campaign serves as a bridge loan necessary for the Company to advance part of the liquidity needed for the development of the photovoltaic plants and connection estimates. The remaining part of the amount is covered partly by company funds and partly by financial institutions more aligned with the project's business plan.
AMORTIZATION PLAN
The amortization plan provides for the repayment of the Capital only in the last installment. There are quarterly installments with only the Interest Portion amounting to €5.625,00.
The following amortization plan for Hydro Clean S.r.l. is calculated with an interest rate of 9,00% for a total of €250.000.
N.B.: The start of the amortization plan is finalized from the first available date after the release terms have elapsed; therefore, the statement provided is merely a simulation containing the first available date in the event of the completion of the campaign by its deadline.
*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
The SDGs - (Sustainable Development Goals) are 17 goals defined by the United Nations in the 2030 Agenda for Sustainable Development as a framework for a programmatic strategy "to achieve a better and more sustainable future for all" by 2030.
https://sdgs.un.org/goals
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 two photovoltaic projects developed by Hydro Clean Srl will have a nominal capacity of 6 MWp and 3 MWp total which is equivalent to:
Saving 5.805.000 kg of CO2 in the atmosphere every year
Planting 580.500 trees, enough to cover an area of 2.962 soccer fields
Avoiding the emissions of exhaust gases from 4.059 cars every year
These are the effects and benefits that can also be generated thanks to your contribution!
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