Finance

Arena launches crowdfunding campaign to finance 722 MW of storage in Spain

Through French company Enerfip, the Spanish developer seeks to finance up to EUR 3,000,000 ($3,230,000) and offers investors a fixed annual return of 9.5% over a period of three years.

By

Pilar Sanchez Molina

Jul 01, 2024

Spanish developer Arena Green Asset is seeking to finance its Arena Green Assets T1 project, a portfolio of 69 battery energy storage systems (BESS) under development with a cumulative capacity of 722 MW, located throughout Spain.

Anyone can invest in the Arena Green Assets T1 portfolio, which is already available for investment on the crowdfunding platform run by French Enerfip. The Spanish developer will be responsible for delivering the portfolio through a development services agreement (DSA).

The total objective of this fundraising is to raise EUR 5 million, with the first tranche aiming for EUR 3 million. The proposed interest rate is 9.5% over 36 months. The campaign will close on July 13.

The minimum investment is EUR 10 and the maximum is EUR 2,706,230. According to Enerfip, EUR 293,770 have been raised so far.

From pv magazine Spain

Written by

Pilar Sanchez Molina
Pilar worked as managing editor for an international solar magazine, in addition to editing books, primarily in the fields of literature and art. She joined pv magazine in May 2017, where she manages the Spanish newsletter and website and helps write and edit articles for the daily news section in Latin America.
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