Sonora — 8.5%/an · 36 mois

Plateforme · 22.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence granted by AMF on 6 December 2022 (fonds propres-2022-2), registre ORIAS n°15003274
Status fully compliant, currently valid

A2 · Track Record 6.0/6✓ max

Default 0.8% (<1% → 6 pts×0.5=3.0)
Delay 0.8% (<5% → 6 pts×0.3=1.8)
Realised yield ~5.9% compliant with announced ranges → 6 pts×0.2=1.2

A3 · Rigueur de sélection 3.0/4bon

RES selection process documented and recognised (technical, legal, financial due diligence)
Selection rate not explicitly published in available data

A4 · Santé financière 3.0/4bon

Independent platform founded in 2014 (>10 years), no distress signals
Active European expansion (Spain, Italy, Netherlands)
Fund launch 2026
No direct institutional backing

A5 · Protection investisseurs 2.0/3

agrément AMF licensed → mandatory 4-day reflection period + continuity plan (1 pt)
Segregated accounts via third-party payment service provider Mangopay (1 pt)
No operational secondary market identified (0 pt)

Projet · 26.0/75 (31.0 brut, red flags −5)

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Simple obligation fixed rate, French law

B1.2: 2/3 - Direct borrowing by the operator, no société dédiée (SPV)

B1.3: 0/2 - Ranking referred to documentation, second ranking pledge

B2 · Opérateur & Track record 10.0/15

B2.1: 4/4 - Bernard Prouvost appointed, identifiable public officer

B2.2: 4/5 - Specialist in floating PV, MWp operated not quantified

B2.3: 1/3 - Enerfip historical track record not documented in the file

B2.4: 1/3 - Gearing approximately 1.8, judicial verification not performed

B3 · Garanties & Sûretés 6.0/15faible

B3.1: 5/9 - Second ranking pledge on Atakama securities and current accounts

B3.2: 1/4 - Financial soundness of Atakama Invest not documented

B3.3: 0/2 - No banking partner identified, project >2M€

B4 · Structure financière 4.0/15faible

B4.1: 2/5 - Projects in development phase, no PPA or contractualised revenue

B4.2: 1/4 - Equity committed N/A, existing corporate equity

B4.3: 1/4 - No stress test presented

B4.4: 0/2 - taux de couverture de la dette not documented, revenue not contractualised

B5 · Pré-commercialisation 2.0/10faible

Portfolio of 77 projects in development phase
No PPA, permit or grid connection documented in the file

B6 · Permis & Maturité 1.0/5faible

Development phase
Status of permits and land not specified for the 77 projects

B7 · Marché & Localisation 1.0/3faible

Score adjusted via live data: 'declining' trend noted (Lille offices)
Data of limited relevance for international floating PV, B7 capped at 1

Points forts

✓Profitable issuer: revenue of 26.6 M€ and net profit of 1.1 M€.

✓Debt to equity ratio declared at 68%.

✓Pioneer and recognised player in floating photovoltaics.

✓Enerfip platform licensed PSFP with low default history.

✓Simple obligation under French law, annual coupon of 8.5%.

Risques identifiés

!Second ranking pledge only, first ranking creditor not identified.

!Development portfolio: permits, PPA and grid connections not documented.

!Multi-country exposure (United States, Japan, Italy) with country and regulatory risks.

!Project news research not performed: absence of incident not confirmed.

!Live market data (Lille offices in decline) poorly suited to the asset.

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.