Crowd invited to fund RP Global’s 400-MW solar project in Spain – EQ Mag Pro
RP GLOBAL offers the residents of Puerto Lumbreras and Lorca (Murcia) the possibility of contributing to the development and construction of its “CARRIL SOLAR” project .
SOLAR RAIL is a 400MW photovoltaic solar plant project , one of the largest in Europe and, if built, would prevent the emission of 250,000 tons of CO2 per year (the equivalent of taking 54,300 passenger vehicles off the road, driven for a anus). You have much more information about the project on its own website, here: https://carril-solar.com
RP GLOBAL is an Austrian developer and producer with more than 30 years of experience in the sector, and 8,000 MW under development in Europe, South America and Africa in wind, solar and hydroelectric renewable assets. RP GLOBAL is firmly committed to the socioeconomic development of the environment where it develops its projects , and offers this guaranteed loan as part of its package of initiatives aimed at giving the community access to part of the economic benefit that the project will bring, as well as to disseminate to it and allow the involvement of the local population.
The full amount raised will be used by RP GLOBAL to fund development and construction costs of the project. 100% of the loan obligations are guaranteed by RP GLOBAL HOLDING, SL, parent company of the RP GLOBAL group in Spain established in 2006 , with nearly €40 million on its balance sheet and in its own funds (the company has no other debts in balance) according to the last available audit, and sound financially.
The main characteristics of the loan are the following:
1) It will accrue interest every six months from the moment of its disbursement.
2) Maximum duration of 3 years, or until the project comes into operation, whichever comes first.
3) Interest rate:
- At 5.0% per annum from the disbursement until the time they obtain all the necessary permits to start the works.
- At 6.0% per annum from the start of the works and until the project is connected to the grid, or up to 3 years after disbursement, whichever comes first.
4) Amortization of the principal in its entirety at the end of the loan term.
The main risk of the investment is that derived from Carril Solar not obtaining all the necessary licenses and permits for the start of construction of the project; the project is still in the “development” phase. In this way, the denial of any licenses and permits pending to be obtained by the AA.PP. could cause the infeasibility of the project. To mitigate this risk, RP GLOBAL has issued a corporate guarantee, guaranteeing 100% of the loan obligations, and has the right to prepay the loan in the event of the project becoming unfeasible.
