À propos
Crowdfunding for a solar plant on a canopy at Loubès-Bernac (Lot-et-Garonne), carried out by project company TSI 72, subsidiary of Mexens group (formerly Technique Solaire). The plant is winner of the 8th tranche of PPE 2 'Buildings' call for proposals 2024 with remuneration complement contract over 20 years. Issuance of simple bonds for 2,137,000 € to partially finance construction and commissioning.
Plateforme · 22.0/25
A1 · Statut réglementaire
8.0/8✓ max
- Valid agrément AMF AMF licence, licence fonds propres-2023-26 registered
- Maximum score
A2 · Track Record
6.0/6✓ max
- Default 0.74% (<1% → 6 pts)
- Delay rate 1.14% (<5% → 6 pts)
- Realised yield 6.85%/year in progression, compliant with ENR standard (5-9%) → 6 pts
- A2 = (6×0.5 + 6×0.3 + 6×0.2) = 6/6
A3 · Rigueur de sélection
2.0/4
- Strategic ENR refocusing in 2019 documented, suggesting rigorous selection committee
- No selection rate published explicitly
- Non-quantified process → 2 pts
A4 · Santé financière
4.0/4✓ max
- Subsidiary of Lendosphère (123 IM Group, institutional), net result +434K€ in 2024, no losses since 2019, >5 years in existence, no platform distress signal
- Maximum score
A5 · Protection investisseurs
2.0/3
- Approved agrément AMF → 4-day cooling-off period + mandatory continuity plan (1 pt)
- Segregated accounts mandated regulatory for all agrément AMF (1 pt)
- Secondary market not documented in available data (0 pt)
Projet · 45.0/75
(50.0 brut, red flags −5)
B1 · Instrument & Structure
8.0/10bon
B1.1: 5/5 - Simple bond fixed rate, clear French law
B1.2: 2/3 - Direct loan from JLT Energy 13 subsidiary, well documented
B1.3: 1/2 - Simple bond with no known senior debt, ranking in fact not registered
B2 · Opérateur & Track record
13.0/15bon
B2.1: 4/4 - Mexens appointed, identifiable managers, structured group
B2.2: 5/5 - 0.9 GW in operation, >50 MWc connected documented, maximum ENERGY score
B2.3: 2/3 - Operations ongoing on Lendopolis, positive track record on AMF platforms
B2.4: 2/3 - Crédit Agricole and Bpifrance shareholders; tight balance sheet possible given 4 GW ambitions
B3 · Garanties & Sûretés
5.0/15faible
B3.1: 5/5 - Joint and several guarantee from JLT Energy 13 (company in Mexens group, 100% shareholder of project company)
B3.2: 1/4 - Guarantor equity capital not disclosed, gearing not calculable
B3.3: 0/2 - No banking partner identified for this specific project >2M€ → RF2 triggered
B4 · Structure financière
9.0/15
B4.1: 4/5 - CRE 20-year contract (remuneration complement), IRR not disclosed but PPA-like signed → 4 points
B4.2: 2/4 - Operator equity contribution not specified; crowd/total ratio unknown
B4.3: 2/4 - No formalised stress test but 20-year purchase contract provides solid structure
B4.4: 1/2 - taux de couverture de la dette not calculable, contracted revenue reduces risk
B5 · Pré-commercialisation
8.0/10bon
- Winner PPE2 'Buildings' tranche 8 (2024), 20-year remuneration complement contract obtained
- Purged permit not confirmed, connection in progress according to news. → 8 points (purged permit + applicable regulated rate)
B6 · Permis & Maturité
4.0/5bon
- Winner PPE2 call for proposals, 20-year CRE contract signed, plant under construction according to file
- Enedis connection not yet confirmed as finalised in the file → 4 points
B7 · Marché & Localisation
3.0/3✓ max
- French RES market in strong growth (33 GW cumulative, PPE3 target 54-60 GW 2030)
- Lot-et-Garonne in dominant ground segment (68%)
- Price 55-70 €/MWh compatible with CRE profitability. → 3 points
⚠ Alertes détectées · −5 pts déduits
Pas de financement bancaire
−5 pts
No banking partner identified on project of 2,137,000 € (threshold >€2M)
Points forts
Mexens group: 0.9 GW in operation, 2nd winner PPE2 rooftops in France
20-year CRE remuneration complement contract secured, PPE2 winner
Institutional shareholders: Crédit Agricole and Bpifrance in capital since 2017
French RES market in strong growth, PPE3 target almost triples capacity by 2030
Lendopolis platform PSFP AMF, excellent track record (default <1%)
Risques identifiés
Financial guarantees of guarantor JLT Energy 13 not documented in the file
Absence of identified banking partner on this specific project
Enedis connection delays increasing (12-36 months depending on region)
Operator equity contribution and detailed financing plan not disclosed
30% increase in high-efficiency module cost since January 2026 may impact budget
Voir toute l'analyse Lendopolis →
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⚠ 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.