Maclear Project Green Energy
- Written by
- Just P2P
- •
- Updated March 18, 2025
Score B+
GREEN ENERGY SRL is an end-to-end service provider in the green energy sector based in Italy, specializing in the design, procurement, installation, and maintenance of renewable energy solutions, primarily solar photovoltaic systems and battery energy storage systems (BESS). Founded by Bonelli Simone, the company has demonstrated consistent growth since inception, with revenues increasing from 8 M€ in 2021 to 11 M€ in 2024.
The project seeks an €800,000 loan to finance equipment procurement for a secured contract with Acciai Speciali Terni S.p.A., a major steel manufacturer. This contract, valued at €1,946,748, involves installing an advanced energy storage system to optimize electricity consumption and enhance grid stability for the client.
Investment terms
Loan requested : 800,000€
Period : 14 months
Interest rate : 14.7%
Company Contribution : 449,033€ for equipment plus 697,715€ for services
The 800,000€ loan will fund equipment procurement for their contract with Acciai Speciali Terni S.p.A. The company contributes significantly to the total project cost of €1,946,748, providing €449,033 toward equipment purchases and fully covering the €697,715 for engineering, installation, and commissioning services. This balanced funding approach with substantial company investment demonstrates commitment to the project’s success.
Risk metrics
Debt/Equity Ratio : 1.79 (Medium risk)
LTV (Loan to Value) : 36% (Low risk)
Credit History Score : 9/10 (Very Good)
This projecthas a balanced profile with the Debt/Equity ratio of 1.79 falling within the medium risk range (1.0-2.0), indicating moderate financial leverage. This is offset by the very strong LTV of 36%, well below the 60% threshold for low risk classification, demonstrating excellent collateral coverage. The company’s credit history score of 9/10 indicates very good creditworthiness, suggesting a strong track record of financial responsibility.
Business profile
Geographic Location : Italy (EU member states)
Industry Sector : Renewable Energy (Solar PV and Battery Storage)
Collateral Type : Equipment/Company assets
GREEN ENERGY SRL operates in Italy, an EU member state with favorable renewable energy policies including commitments to increase renewable energy share to 30% by 2030 and significant funding through the PNRR (Piano Nazionale di Ripresa e Resilienza). The renewable energy sector, particularly solar and battery storage systems, is experiencing robust growth with the Italian market estimated at €35 billion annually.
The company offers tangible collateral through its service infrastructure (valued at €550,000), inventory (average €450,000), and the equipment being procured under the financed contract (€1,249,033). These last years, the company has demonstrated revenue growth and established relationships with major industrial clients, positioning it well in a growing market segment.
Positive / Risk factors
Positive factors
- Strong and growing revenue trajectory
- Diversified business model (multiple revenue streams)
- Expansion into maintenance services (recurring revenue)
- These services have higher profit margins (45%)
- Secured contract with major industrial client
- Strong collateral coverage with LTV of only 36%
- Very good credit history score (9/10)
- Growing sector (supported by government policies)
- Experienced leadership with industry expertise
- Significant company contribution
Risk factors
- Medium debt-to-equity ratio of 1.79 (moderate leverage)
- Decline in net profit margin due to significant investment
- Drop in net profit from €687,197 (2023) to €118,391 (2024)
- Reliance on subcontractors for installation projects
- Equipment procurement may suffer supply disruptions
- Competition in the renewable energy sector
Score B+
The B+ rating is justified by the company’s excellent LTV ratio of 36% and very good credit score of 9/10, which help mitigate the medium debt-to-equity ratio of 1.79. While the sharp decline in 2024 profitability raises concerns, this was strategically driven by substantial reinvestment in infrastructure and service capabilities that should enhance long-term revenue stability.
The secured contract with a major industrial client, strong collateral coverage, and significant company contribution of approximately €1.15 million toward the total project costs provide additional confidence in the investment opportunity. Overall, GREEN ENERGY SRL presents a balanced risk profile with strong mitigating factors that position this as an attractive medium-risk investment with good growth potential.
