Ensol T4 — 8.0%/an · 30 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 · 37.0/75 (42.0 brut, red flags −5)

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - Direct loan dedicated issuer (Ensol Abonnement Sud), clear FR law

B1.3: 1/2 - Senior rank claimed, no known senior debt recorded at this stage

B2 · Opérateur & Track record 7.0/15faible

B2.1: 3/4 - Appointed managers (Paul de Roussel de Préville, Martin d'Hoffschmidt), partially documented profiles

B2.2: 2/5 - Company created 2023, <3 years, 530 installations, limited track record

B2.3: 2/3 - T1, T2, T3 tranches raised without reported incident

B2.4: 0/3 - Accounts unavailable, recent company, balance sheet not verifiable

B3 · Garanties & Sûretés 7.0/15faible

B3.1: 6/9 - Pledge 100% shares Ensol Abonnement Sud, registered, service provider Pono Technologies monitoring cash flows

B3.2: 1/4 - Issuer company capital 10k€, balance sheet data very limited, guarantor weakly capitalised

B3.3: 0/2 - No bank identified, senior debt currently being secured

B4 · Structure financière 8.0/15

B4.1: 3/5 - Subscription model, PPA-like over 20 years, contractual revenues but offering in ramp-up phase

B4.2: 2/4 - fonds propres 550k€ on total cost 5.5m€ (~10%)

B4.3: 2/4 - P&L projections presented, formalised stress test absent but revenues indexed to inflation long term

B4.4: 1/2 - taux de couverture de la dette not precisely calculable, projected rising revenues

B5 · Pré-commercialisation 6.0/10

Planning permission exhausted not applicable (residential rooftop)
530 operational installations, recurring subscription revenues 20 years
Battery offering in ramp-up since 2025
Regulated OA tariff applicable
Deployment phase without total commitment

B6 · Permis & Maturité 4.0/5bon

Residential photovoltaic installations (<36 kWc) do not require planning permission
Established activity, administrative procedures managed, connection in progress
Legal structure documented and operational

B7 · Marché & Localisation 2.0/3

French residential renewable energy market in strong growth (+30% <9kWc)
Reduction in injection subsidies creates battery demand
National policy favourable (40% renewable target 2030)
Market stable and promising

Points forts

✓Enerfip platform licenced PSFP, excellent renewable energy track record (0 default).

✓Solar subscription model with recurring contractual revenues over 20 years.

✓530 operational installations, three previous tranches raised without incident.

✓Residential battery market in strong acceleration post-injection tariff reduction.

✓Pledge 100% shares issuer with dedicated monitoring service provider.

Risques identifiés

!Company created in 2023, balance sheet unavailable, financial history not verifiable.

!Senior debt (5m€) not yet secured - repayment conditional on external refinancing.

!Negative mention not confirmed ('A complete disaster from start to finish') on T4 in forum.

!Issuer share capital 10,000€ - pledge guarantor very weakly capitalised.

!Fourth successive tranche: operational risk concentration on single beginning issuer.

⚠ 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.