Mercado SolarCrowdfunded solar plants, paid upfront or in installments
Ana P. (investor, example)
Interactive prototype · all figures are examples[CNV registration: pending]Projected returns, not guaranteedInvestment is subject to Argentine regulation
Mendoza · LavalleConstruction
PSF Lavalle Solar
5.0 MWp · Single-axis tracker · bifacial · 10-year MATER PPA · USD 58/MWh
Key factskey information sheet · all figures are examples
| Item | Value | Source |
|---|---|---|
| What it is | 5.01 MWp (4.2 MWac) solar plant in Lavalle, Mendoza · Single-axis tracker · bifacial · sells its energy under 10-year MATER PPA at USD 58/MWh | ELAP estimate ELAP · report rev C · P50/P90 study · 05/15/2026 |
| Amount being raised | USD 1.70 M from the crowd, out of a CAPEX of USD 3.06 M (USD 0.611/Wp) · 100 % raised · closed 06/2026 | Actual 36 % · Contract 64 % as of 08/12/2026 |
| Minimum ticket | To be defined: financing has not opened | Contract Platform terms, art. 9 · 07/01/2026 |
| Return | P50 11.2 % · P90 9.9 % of contributed capital in year 1 · projected, not guaranteed | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
| Term | 10-year PPA · 25-year useful life | Contract Signed MATER PPA · 03/20/2026 |
| Main risks | Construction · Price after the PPA | ELAP estimate ELAP · report rev C · P50/P90 study · 05/15/2026 |
| Total fees | USD 359,757 one-off (11.8 % of CAPEX) · USD 180,644 per year (29.9 % of year-1 revenue, including debt interest) | Contract Trust agreement, annex III · 06/15/2026 |
[Model: key information sheet under EU Regulation 2020/1503 and CNV RG 717/2018 · to be checked in the legal memo]
TablesMV stationGrid lineSite boundary
Plant — Plan
166 1P tables of 2 × 261 MV station of 5 MVA · 13.2 kV13.2 kV MV line · 1.8 km11 ha used of 30ELAP layout, report revision
Who takes part
| Role | Who | Contribution | Status |
|---|---|---|---|
| Land | Local farmer (example) | In-kind contribution for equity | Ready |
| Inverters | Electro Cuyo (example) | Awarded · 50 % contributed for equity | Ready |
| EPC | Constructora Jarilla (example) | Turnkey · under construction | Ready |
| Buyer | Winery, Luján de Cuyo | 10-year PPA · USD 58/MWh | Ready |
| Trustee | Fiduciaria Pampa S.A. (example) | Ready | |
| Engineering | ELAP | rev C, as built | Ready |
Capital structure example
Land, in kind · USD 0.10 M · 3 %Equipment, in kind · USD 0.07 M · 2 %Crowd · USD 1.70 M · 56 %Bank debt · USD 1.18 M · 39 %
Total USD 3.06 M = CAPEX, sum of the bill of quantities · USD 0.611/Wp · contributed capital (excluding debt) USD 1.87 M
P50P90
Annual distribution — % of paid-in capital
Years 1 to 10 with debtRises once the debt is repaidDrops when the PPA ends (spot USD 45/MWh, example)Projected, not guaranteed
Explicit risks
| Risk | What can happen | What limits it |
|---|---|---|
| Construction | Delay of the MV station transformer: 6 weeks. | The EPC absorbs the penalty under the contract. |
| Price after the PPA | The PPA covers 10 years; after that, spot. | Base scenario USD 45/MWh. |
Questions
No questions yet.
Financing
Closed. The plant is in Construction.
Grid access
- Node
- Lavalle 66/13.2 kV substation
- Free capacity
- 8 MW (CAMMESA, public data)
- Requested capacity
- 4.2 MW
- Dispatch priority
- Assigned 02/2026
- Guarantee deposit
- Posted
Energy buyer
Winery, Luján de Cuyo · MATER Large User
10-year MATER PPA · USD 58/MWh
Stages
Land09/2025
Engineering12/2025
Grid access02/2026
Financingclosed 06/2026
todayConstruction45 % complete
Operation03/2027
01Equipment and quantities24 lines · total USD 3,057,800 = CAPEX
| Category | Description | Manufacturer and model | Specification | Quantity | Unit price | Total | Source | Purchase status |
|---|---|---|---|---|---|---|---|---|
| Main equipment, item by item · click a row to see warranty, country and datasheet | ||||||||
| Equipment | Bifacial PV module | JA SolarJAM72D40-580/LB | 580 Wp · N-type bifacial · 1,500 V | 8,632 pcs | USD 64.96 | USD 560,735 | Actual Invoice A-0004-00002231 · Importadora Andina (example) · 08/12/2026 | Installed |
| Equipment | String inverter | SungrowSG250HX | 250 kW · 1,500 V · 12 MPPT | 17 pcs | USD 8,750 | USD 148,750 | Contract Purchase order no. 6 · Electro Cuyo (example) · 06/20/2026 | Delivered |
| Structure | Single-axis tracker, one row (1P) | Array TechnologiesDuraTrack HZ v3 | 1P · 52 modules · ±52° | 166 tables | USD 2,715 | USD 450,690 | Actual Invoice A-0002-00000874 · Trackers del Oeste (example) · 07/30/2026 | Installed |
| Medium voltage | Oil-immersed power transformer | Tadeo CzerwenyTPC 5000 kVA ONAN | 5 MVA · 13.2/0.8 kV · Dyn11 | 1 pcs | USD 94,000 | USD 94,000 | Contract Purchase order no. 9 · Tadeo Czerweny · 07/02/2026 | Purchased |
| Medium voltage | Medium-voltage switchgear, 3 functions | Ormazabalcgm.3 24 kV | 24 kV · 2 lines + protection | 1 pcs | USD 32,000 | USD 32,000 | Contract Purchase order no. 10 · 07/02/2026 | Delivered |
| Electrical BOS | DC solar cable | PrysmianTecsun H1Z2Z2-K | 1 × 6 mm² · 1.5 kV | 20,000 m | USD 0.97 | USD 19,400 | Actual Invoice B-0001-00004410 · 08/05/2026 | Installed |
| Electrical BOS | Low-voltage cable, inverter to station | IMSASubterráneo XLPE Al | 1 × 240 mm² · 1.8/3 kV | 7,650 m | USD 6.30 | USD 48,195 | Actual Invoice B-0001-00004411 · 08/05/2026 | Delivered |
| Medium voltage | Medium-voltage cable, internal network | CimetXLPE 8,7/15 kV Al | 1 × 95 mm² · 13.2 kV | 1,500 m | USD 9.80 | USD 14,700 | Contract Purchase order no. 11 · 07/02/2026 | Purchased |
| Minor items, by category | ||||||||
| Structure | Pile driving and mechanical installation of the trackers | — | 0.030 USD/Wp | 1 lump sum | USD 187,746 | USD 187,746 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Electrical BOS | String boxes, protection, earthing, monitoring and electrical installation | — | 0.052 USD/Wp | 1 lump sum | USD 325,426 | USD 325,426 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Medium voltage | Housing, foundations and installation of the MV stations | — | per station | 1 pcs | USD 32,500 | USD 32,500 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Civil works | Earthworks, internal roads, fencing, drainage and site compound | — | 0.052 USD/Wp | 1 lump sum | USD 325,426 | USD 325,426 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Grid connection | 13.2 kV medium-voltage line, concrete poles | — | per km | 1.8 km | USD 57,500 | USD 103,500 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Grid connection | Outgoing bay at the substation, protection and SMEC metering | — | 1 bay | 1 lump sum | USD 187,500 | USD 187,500 | Contract EPC contract · Constructora Jarilla (example) · 07/01/2026 | Purchased |
| Engineering | ELAP engineering: basic, detailed, P50/P90 and as-built | — | 0.012 USD/Wp | 1 lump sum | USD 60,079 | USD 60,079 | Contract ELAP engineering contract · 12/15/2025 | Purchased |
| Development | ELAP development: permits, environmental impact and dispatch priority management | — | 0.018 USD/Wp | 1 lump sum | USD 90,118 | USD 90,118 | Contract ELAP engineering contract · 12/15/2025 | Purchased |
| Development | Independent engineer: design review and construction certification | — | USD 2,500 per MWp | 1 lump sum | USD 12,516 | USD 12,516 | Actual Trustee's invoice · 06/20/2026 | Awarded |
| Development | Land, in-kind contribution for equity (valuation) | — | in kind | 1 lump sum | USD 100,000 | USD 100,000 | Contract Land contribution agreement · valuation (example) · 09/10/2025 | Purchased |
| Trustee | Trust formation and legal structuring | — | fixed fee | 1 lump sum | USD 18,000 | USD 18,000 | Actual Trustee's invoice · 06/20/2026 | Purchased |
| Insurance | All-risk construction and transport insurance | — | 0.45 % of construction | 1 lump sum | USD 11,388 | USD 11,388 | Contract Policy no. 448812 · 06/28/2026 | Purchased |
| Platform fee | Platform placement fee | — | 3 % of the crowd raise | 1 lump sum | USD 51,000 | USD 51,000 | Contract Platform terms, art. 9 · 07/01/2026 | Awarded |
| Contingency | Construction contingency | — | 4 % of construction | 1 lump sum | USD 101,223 | USD 101,223 | Contract ELAP engineering contract · 12/15/2025 | To quote |
| Financing cost | Cost of investor installments and debt structuring | — | 5 % of the amount paid in installments + 1 % of the debt | 1 lump sum | USD 45,834 | USD 45,834 | Contract ELAP engineering contract · 12/15/2025 | To quote |
| Taxes | Import duties, statistics fee and non-recoverable taxes | — | 5 % of imports from outside Mercosur | 1 lump sum | USD 37,074 | USD 37,074 | Contract ELAP engineering contract · 12/15/2025 | To quote |
| Bill of quantities total · 0.611 USD/Wp over 5.007 MWp | USD 3,057,800 | |||||||
Prices in USD excluding VAT. Supplier, EPC, O&M and trustee names are examples; manufacturers and models are real and their prices are examples.
02Prices and CAPEXUSD 3,057,800 · 0.611 USD/Wp
| Category | USD | USD/Wp | % of total | Market reference USD/Wp | Platform average USD/Wp | Source |
|---|---|---|---|---|---|---|
| Equipment | USD 709,485 | 0.142 | 23.2 % | 0.155 | 0.143 | Actual 79 % · Contract 21 % as of 08/12/2026 |
| Structure | USD 638,436 | 0.128 | 20.9 % | 0.125 | 0.119 | Actual 71 % · Contract 29 % as of 07/30/2026 |
| Electrical BOS | USD 393,021 | 0.079 | 12.9 % | 0.080 | 0.076 | Actual 17 % · Contract 83 % as of 08/05/2026 |
| Medium voltage | USD 173,200 | 0.035 | 5.7 % | 0.035 | 0.047 | Contract as of 07/02/2026 |
| Civil works | USD 325,426 | 0.065 | 10.6 % | 0.060 | 0.061 | Contract as of 07/01/2026 |
| Grid connection | USD 291,000 | 0.058 | 9.5 % | 0.050 | 0.061 | Contract as of 07/01/2026 |
| Engineering | USD 60,079 | 0.012 | 2.0 % | 0.012 | 0.012 | Contract as of 12/15/2025 |
| Development | USD 202,634 | 0.040 | 6.6 % | 0.035 | 0.038 | Actual 6 % · Contract 94 % as of 06/20/2026 |
| Trustee | USD 18,000 | 0.004 | 0.6 % | 0.003 | 0.003 | Actual as of 06/20/2026 |
| Insurance | USD 11,388 | 0.002 | 0.4 % | 0.002 | 0.002 | Contract as of 06/28/2026 |
| Platform fee | USD 51,000 | 0.010 | 1.7 % | 0.010 | 0.010 | Contract as of 07/01/2026 |
| Contingency | USD 101,223 | 0.020 | 3.3 % | 0.020 | 0.020 | Contract as of 12/15/2025 |
| Financing cost | USD 45,834 | 0.009 | 1.5 % | 0.012 | 0.010 | Contract as of 12/15/2025 |
| Taxes | USD 37,074 | 0.007 | 1.2 % | 0.008 | 0.008 | Contract as of 12/15/2025 |
| Total | USD 3,057,800 | 0.611 | 100 % | 0.607 | 0.612 | Actual 36 % · Contract 64 % as of 08/12/2026 |
Market reference: ELAP estimate ELAP · 2026 market reference, 19 budget prices · 09/15/2026. The platform average is that of the other 6 projects on this page. Each category is the sum of its lines in the bill of quantities.
03Open tenderanonymous until awarded, named afterwards
Equipment · String inverter 250 kW, 1,500 VAwarded on 06/20/2026 · 17 pcs · 2 quotes
| Bidder | Offer | Unit price | Total | Versus lowest | Lead time | Result |
|---|---|---|---|---|---|---|
| Electro Cuyo (example) | Sungrow SG250HX | USD 8,750 | USD 148,750 | +1.0 % | 10 wk | Selected |
| Electro Pampa (example) | Solis S6-GU250K-EHV | USD 8,660 | USD 147,220 | lowest | 16 wk | Not selected |
Why it won: The second cheapest (1 % above B), but contributes 50 % of the order for equity and delivers in 10 weeks versus 16.
04Use of fundsUSD 1,424,984 disbursed of USD 2,883,425
| Sources | USD | % |
|---|---|---|
| Land, in kind | USD 100,000 | 3.3 % |
| Equipment, in kind | USD 74,375 | 2.4 % |
| Crowd | USD 1,700,000 | 55.6 % |
| Bank debt | USD 1,183,425 | 38.7 % |
| Total | USD 3,057,800 | 100 % |
| Uses | USD | % |
|---|---|---|
| Equipment | USD 709,485 | 23.2 % |
| Structure | USD 638,436 | 20.9 % |
| Electrical BOS | USD 393,021 | 12.9 % |
| Medium voltage | USD 173,200 | 5.7 % |
| Civil works | USD 325,426 | 10.6 % |
| Grid connection | USD 291,000 | 9.5 % |
| Engineering | USD 60,079 | 2.0 % |
| Development | USD 202,634 | 6.6 % |
| Trustee | USD 18,000 | 0.6 % |
| Insurance | USD 11,388 | 0.4 % |
| Platform fee | USD 51,000 | 1.7 % |
| Contingency | USD 101,223 | 3.3 % |
| Financing cost | USD 45,834 | 1.5 % |
| Taxes | USD 37,074 | 1.2 % |
| Total | USD 3,057,800 | 100 % |
In-kind contributions (USD 174,375: land and equipment for equity) do not go through the account. The rest is paid from the trust account against certified milestones by the independent engineer, and every disbursement is published here.
| Date | Milestone | Amount | Use | Certificate | Status |
|---|---|---|---|---|---|
| 06/20/2026 | Financing close | USD 231,713 | Engineering, development, trustee and placement fee | Trust closing record | Paid |
| 08/20/2026 | EPC signing and advance | USD 397,757 | EPC advance | Certificate no. 1 · Estudio Ingeniería Zonda (example) | Paid |
| 09/20/2026 | Modules delivered to site | USD 795,514 | Modules and inverters on delivery | Certificate no. 2 · Estudio Ingeniería Zonda (example) | Paid |
| 10/20/2026 | Pile driving | USD 318,205 | Pile driving and structure | on certification | Planned |
| 11/20/2026 | Mechanical installation | USD 344,723 | Mechanical installation | on certification | Planned |
| 12/20/2026 | Electrical installation | USD 318,205 | Electrical BOS and cables | on certification | Planned |
| 01/20/2027 | MV station and line | USD 265,171 | MV stations, line and outgoing bay | on certification | Planned |
| 02/20/2027 | CAMMESA commercial operation | USD 212,137 | EPC balance, contingency and retention | on certification | Planned |
| Total through the trust account | USD 2,883,425 | CAPEX minus in-kind contributions | |||
05Who gets paid whatUSD 359,757 one-off · USD 180,644 per year
| Party | Who | Item | Basis | Amount USD | When | Source |
|---|---|---|---|---|---|---|
| Platform | Mercado Solar | Placement fee | 3 % of the crowd raise, once at close | USD 51,000 | Once | Contract Platform terms, art. 9 · 07/01/2026 |
| Platform | Mercado Solar | Administration and secondary market | 1 % of revenue, per year | USD 6,040 | Per year | Contract Platform terms, art. 10 · 07/01/2026 |
| ELAP | ELAP | Engineering | 0.012 USD/Wp | USD 60,079 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| ELAP | ELAP | Development | 0.018 USD/Wp | USD 90,118 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| Trustee | Fiduciaria Pampa S.A. (example) | Trust formation | fixed fee | USD 18,000 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| Trustee | Fiduciaria Pampa S.A. (example) | Trust administration | 0.8 % of revenue, per year | USD 4,832 | Per year | Contract Trust agreement, annex III · 06/15/2026 |
| EPC | Constructora Jarilla (example) | EPC's declared margin | 10 % of the works in its scope (included in the bill of quantities) | USD 116,210 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| O&M | Operadora Solar Andes (example) | Operation and maintenance | USD 15,000 per MWp per year | USD 75,098 | Per year | Contract Trust agreement, annex III · 06/15/2026 |
| Bank | Banco Regional (example) | Debt structuring | 1 % of the debt | USD 11,834 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| Bank | Banco Regional (example) | Year-1 interest | 8 % a year on the debt | USD 94,674 | Per year | Contract Trust agreement, annex III · 06/15/2026 |
| Independent engineer | Estudio Ingeniería Zonda (example) | Technical review and construction certification | USD 2,500 per MWp | USD 12,516 | Once | Contract Trust agreement, annex III · 06/15/2026 |
| One-off, within CAPEX | USD 359,757 | 11.8 % of CAPEX | ||||
| Annual, year 1 | USD 180,644 | from the payment waterfall | ||||
Declared conflict of interest. ELAP is at once engineer, developer and platform of this project: it charges for engineering, development and the platform fees. That is why the technical review is signed by an independent engineer (Estudio Ingeniería Zonda (example)), who also certifies every milestone before a disbursement.
06Production and assumptionsP50 10.41 GWh · P90 9.76 GWh per year · Source: ELAP estimate · ELAP · report rev C · P50/P90 study · 05/15/2026
| Data or assumption | Value |
|---|---|
| P50 production | 10.41 GWh per year · 2,080 kWh/kWp |
| P90 production | 9.76 GWh per year · 1,950 kWh/kWp |
| Weather data source | PVGIS-SARAH3 cross-checked with Solcast |
| Years in the series | 2005 to 2023 (19 years) |
| Global horizontal irradiation (GHI) | 1,985 kWh/m² per year |
| Bifacial gain | 7.2 % |
| Total system losses | 14.5 % |
| Soiling | 2.0 % with quarterly cleaning |
| Availability | 99.0 % |
| Grid curtailment | 2.0 % |
| Annual module degradation | 0.4 % per year (manufacturer's linear warranty) |
| Combined uncertainty (1 σ) | 4.9 % · P90 = P50 × (1 − 1.28 σ) |
Download ELAP's P50/P90 studyPDF of report rev C, with the weather series and the loss breakdown.
07Revenue10-year MATER PPA
| Item | Value | Source |
|---|---|---|
| Price | USD 58/MWh | Contract Signed MATER PPA · 03/20/2026 |
| Term | 10 years from commercial operation | Contract Signed MATER PPA · 03/20/2026 |
| Indexation | 1.5 % a year in USD from year 4 | Contract Signed MATER PPA · 03/20/2026 |
| Counterparty | Winery, Luján de Cuyo · MATER Large User | Contract Signed MATER PPA · 03/20/2026 |
| Guarantees | Bank guarantee for 2 months of billing | Contract Signed MATER PPA · 03/20/2026 |
| Energy covered | 100 % of the energy | Contract Signed MATER PPA · 03/20/2026 |
| After the contract | Spot, USD 45/MWh as an example | ELAP estimate ELAP · report rev C · 05/15/2026 |
08Payment waterfallyear 1 · projected
| Order | Item | Basis | USD year 1, P50 | % of revenue | USD year 1, P90 | Source |
|---|---|---|---|---|---|---|
| Energy sales revenue | 10.41 GWh × USD 58/MWh | USD 603,991 | 100.0 % | USD 566,242 | Contract Signed MATER PPA · 03/20/2026 | |
| 1 | Operation and maintenance | USD 15,000 per MWp per year | −USD 75,098 | 12.4 % | −USD 75,098 | Contract Trust agreement, annex III · 06/15/2026 |
| 2 | Operational all-risk insurance | 0.4 % of CAPEX per year | −USD 10,702 | 1.8 % | −USD 10,702 | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
| 3 | Trustee fee | 0.8 % of revenue | −USD 4,832 | 0.8 % | −USD 4,530 | Contract Trust agreement, annex III · 06/15/2026 |
| 4 | Platform administration fee | 1 % of revenue | −USD 6,040 | 1.0 % | −USD 5,662 | Contract Platform terms, art. 10 · 07/01/2026 |
| 5 | Municipal fees and gross receipts tax | 1.2 % of revenue | −USD 7,248 | 1.2 % | −USD 6,795 | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
| 6 | Income tax | 35 % of profit, with 25-year depreciation | −USD 99,080 | 16.4 % | −USD 86,264 | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
| 7 | Debt service (principal and interest) | USD 1.18 M at 8 % over 10 years | −USD 176,365 | 29.2 % | −USD 176,365 | Contract Trust agreement, annex III · 06/15/2026 |
| 8 | Inverter replacement reserve | USD 3,000 per MWp per year | −USD 15,020 | 2.5 % | −USD 15,020 | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
| 9 | Distribution to investors | 11.2 % of contributed capital | USD 209,606 | 34.7 % | USD 185,805 | ELAP estimate ELAP · trust model, report rev C · 05/15/2026 |
First operation, taxes and debt; then reserves; and only after that the investors. The return on the sheet is the last line divided by the contributed capital (USD 1,874,375).
09Sensitivityyear 1 · same model as the payment waterfall · Source: ELAP estimate · ELAP · trust model, report rev C · 05/15/2026
| Case | Year-1 return | Versus base | Distribution USD | Per USD 1,000 |
|---|---|---|---|---|
| Base case (P50) | 11.2 % | — | USD 209,606 | USD 112 |
| Sale price −10 % | 9.2 % | −2.0 pp | USD 171,525 | USD 92 |
| P90 production | 9.9 % | −1.3 pp | USD 185,805 | USD 99 |
| CAPEX +10 %, with more debt | 9.4 % | −1.8 pp | USD 176,183 | USD 94 |
| 20 % exchange-rate gap | 9.3 % | −1.9 pp | USD 174,672 | USD 93 |
CAPEX +10 %: the overrun is financed with more debt. Exchange-rate gap: revenue is collected in pesos at the official rate and the investor converts to dollars at a rate 20 % higher.
10Construction progress20 % actual versus 26 % planned · Source: Actual · Progress certificates · Estudio Ingeniería Zonda (example) · 10/10/2026
| Milestone | Planned | Actual | Delay |
|---|---|---|---|
| EPC signing and advance | 07/15/2026 | 07/15/2026 | on time |
| Modules delivered to site | 09/15/2026 | 09/24/2026 | 9 days |
| Pile driving | 10/15/2026 | 10/29/2026 | 14 days |
| Mechanical installation | 11/15/2026 | 12/06/2026 | 21 days |
| Electrical installation | 12/15/2026 | pending | — |
| MV station and line | 01/15/2027 | pending | — |
| Energization | 02/15/2027 | pending | — |
| CAMMESA commercial operation | 03/15/2027 | pending | — |
| Main equipment | Of 8 |
|---|---|
| Awarded or later | 8 |
| Purchased | 8 |
| Delivered to site | 6 |
| Installed | 3 |
| Month | Planned | Actual | Curve |
|---|---|---|---|
| 07/2026 | 0 % | 0 % | |
| 08/2026 | 3 % | 1 % | |
| 09/2026 | 13 % | 8 % | |
| 10/2026 | 26 % | 20 % | |
| 11/2026 | 42 % | — | |
| 12/2026 | 58 % | — | |
| 01/2027 | 74 % | — | |
| 02/2027 | 87 % | — | |
| 03/2027 | 97 % | — | |
| 04/2027 | 100 % | — |
Purchase status of each item in section 1. Actual dates and progress: independent engineer's certificates.
11Change logpublic to everyone
| Date | What changed | From | To | Why | Source |
|---|---|---|---|---|---|
| 05/15/2026 | ELAP report | rev B | rev C | Detailed engineering closed with the awarded equipment. | ELAP estimate ELAP · report rev C · 05/15/2026 |
| 08/12/2026 | Modules: source | Contract · USD 0.112/Wp | Actual · USD 0.112/Wp | Invoice paid and modules on site. | Actual Invoice A-0004-00002231 · 08/12/2026 |
| 09/02/2026 | Planned energization | 01/15/2027 | 02/05/2027 | 6-week transformer delay; the EPC absorbs the penalty. | Contract EPC note no. 7 · 09/02/2026 |
When a figure changes source (estimated, quoted, contracted, actual), the previous one stays here.
12Documentsdata room
- Trust agreementPDF · 06/2026Registered users only
- ProspectusPDF · 04/2026View
- Power purchase agreementPDF · 03/2026Registered users only
- ELAP engineering report, rev CPDF · 05/2026View
- Grid access studyPDF · 02/2026View
- Independent engineer's technical auditPDF · 10/2026 · progress certificate 3Registered users only
- Quarterly financial statements of the trustPDF · 09/2026 · Q3 2026Registered users only