Costa Rica SME Solar

Escazú, san jose, United States

Short Description

This Costa Rican investment vehicle has 5 photovoltaic solar projects with hotels under an operating lease contract. These projects have been built between 2014 and 2016, and are operational and generating income. This loan will be secured by the income of these projects, and will be used to invest in new similar projects.


Summary

 

We are requesting a loan to expand our existing portfolio of current Solar Energy projects in Costa Rica.  The existing projects have been operational for more than 2 years and have been financed entirely from equity.   Click here for our video.  

We offer our customers, small and medium-sized companies, a solar installation based on a PPA (energy purchase) contract. We do 100% of the investment, the installation is ours, and the customer buys the energy for an agreed price per kWh. (At the end of the contract we hand over the installation to the customer.) This results in a saving for the customer of 10-40% on his electricity bill.

We work without subsidies, the electricity prices and sun in Costa Rica are such that it is profitable without help. Costa Rica is not Puerto Rico, nor is it an island, but the country of 5 million inhabitants is one of the most developed countries in Latin America, safe, with a good legal system, a well-functioning democracy and little corruption.

Our current portfolio of projects is sufficient to repay the loan. We have a pipeline of potential customers to which we presented a binding proposal. The idea is that at the moment the customer signs, we can immediately start with the already collected Gridshare loan.

We use proven technology and big brands: Canadian Solar panels, Kaco inverters. The contract with the customer has been checked several times by different lawyers, from other investors. The law in Costa Rica supports what we do.

For investors of 10,000 Euro or more, we organize a tour of the projects and other tourist destinations, with 5 nights in double room included (we have many hotels among our clientele!)

 


Key personnel

Bart Goossens – Owner

Function: general manager.

Bart has been working in solar energy since 2005. Until 2010 with Ra Solar in Spain, where he was co-responsible for the realization of 10 large projects totaling 15MW for sale to the grid. In 2011 moved to Costa Rica, where he founded Ra Newables SRL and realizes small Solar projects based on PPA contracts. First with own money, then for an international investment fund. So far 20 Solar projects and 10 energy efficiency projects realized in Costa Rica.

Bart's LinkedIn Profile

 

Linda Goossens - Owner

Function: commercial director

Linda founded the company Ra Solar in 2005, where she led the realization of 10 large projects totaling 15MW for sale to the grid. In 2011 she moved to Costa Rica, where she is commercial director and co-owner at Ra Newables SRL, and realizes small Solar projects on the basis of PPA contracts. First with own money, then for an international investment fund. So far 20 Solar projects and 10 energy efficiency projects realized in Costa Rica.

Linda's LinkedIn Profile


Market description

In Costa Rica the electricity prices are very high, around 0.25$ per kWh. There is also a lot of sun, about 2000 kWh/m2/year. This means that solar energy is profitable for own use without subsidies.

SPV SolarSi offers a unique product to the customer that competes with bank loans. Our offer is a PPA, power purchase agreement, a contract that is often used in large-scale renewables projects. The customer only pays the received energy, and does not have to worry about anything. We are the experts, and we do daily monitoring, preventive maintenance and corrective maintenance. (The customer only needs to clean the panels twice a year.) If for some reason the system produces less than expected, this is not a big problem for the customer, he simply buys more at the electricity company (albeit more expensive). We, the experts, provide an optimal solution in the long term, and the customer simply has cheaper energy. And beautiful solar panels.

We offer contracts of 10, 15 and 25 years. The contract has an arbitration clause and is accompanied by a so-called "pagaré", a document that can be collected quickly.


DEBT

SUMMARY OF PRINCIPAL TERMS FOR SENIOR DEBT LOAN

THIS SUMMARY OF PRINCIPAL TERMS (“TERM SHEET”) SUMMARIZES THE PRINCIPAL TERMS OF A PROPOSED SENIOR DEBT LOAN AND DOES NOT CONSTITUTE ANY BINDING OBLIGATION OF THE PARTIES. THIS TERM SHEET DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR AN OFFER TO PURCHASE SECURITIES.

Issuer

SolarSi Costa Rica LLC.,to be incorporated , a Delaware limited liability company (the “Company”),

Securities to be Issued

10 year loan

Offering Amount

$100,000; oversubscriptions up to $200,000

Minimum Investment Amount

$1,000 minimum investment

Use of Proceeds

Realization of small scale photovoltaic solar projects in Costa Rica on PPA contract basis.

Interest

7% per annum.

Repayment

Quarterly  $6.994,42 for 40 quarters.

Change of Control

The Company will give the Investor not less than fifteen (15) days advance written notice of any Change of Control.

Information Rights

The Company will provide the Investors reports as required under Regulation Crowdfunding.

Expenses

The Company and the Holders will each bear their own legal and other expenses with respect to the transactions contemplated by this Term Sheet.

 



Debt Repayment Interest Rate: 7%
Debt Repayment Period: 120 (months)
Minimum Investment: 1000

No updates yet
This section is for public discussions about the project.


Type of Offering
Renewable Energy Project
Regulatory Exemption
Regulation Crowdfunding (Title III)
Categories
Solar (PV)
Targeted Offering Amount
$100,000
Investors
5
Offering Deadline
May. 10, 2019



Progress
12% Funded

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