Finance the construction of a portfolio of 6 photovoltaic projects in France
Arrow is a photovoltaic project portfolio based in France, consisting of 6 photovoltaic canopies with a total capacity of 8.01 MWp : 4 in the municipality of La Flèche (72), 1 in the municipality of Saint Amand (50), and 1 in the municipality of Chaumont (52).
- 1 project has been in operation for a few weeks
- 4 projects are ready to build
- And 1 is in the development phase
Specializing in photovoltaic energy, self-consumption, and storage, Mcel Energy aims to raise a total of €2,035,000 in several tranches , following the construction pace of the projects. Following the success of the first two tranches, the company is now offering a third tranche of €385,000 with an annual interest rate of 8% over 46 months.
The offer
Place your savings in French photovoltaic energy
Mcel Energy offers an investment opportunity in the financing of a portfolio of 6 photovoltaic canopy projects in two tranches. For this third tranche, you will directly contribute to the acquisition of the project portfolio from the historical developer Trina Solar France Systems.
OBJECTIVE
The crowdfunding operation for the Arrow project aims to raise €2,035,000 in several tranches, following the development pace of the projects. For this third tranche, the company aims to collect €385,000 with an annual interest rate of 8% over 46 months.
USE OF FUNDS
The funds raised in this round will be used by the project sponsor to finance the construction of the 6 projects. For this third tranche, the funds will finalize the acquisition of the project portfolio from the developer and unlock senior financing to complete the construction.
REPAYMENT
Repayment of the bonds will be made through new mezzanine debt or by selling development projects held by the group.
SECURITY
A pledge on the securities account containing 100% of the shares of the issuer MCEL Nova SPARK, which owns all rights to the 6 projects in the portfolio, has been established.
LEGAL STRUCTURING & TOTAL ENERGIES INVEST’S ROLE
Specifications
Investment phases
- Investment open to everyone
End of project financing
The closing date for contributions may be extended at the request of the project owner.
The return on your investment will be calculated from the date the subscription certificates are generated, i.e. once all the funds have been received and the legal documentation has been signed by the project owner.
Resources
Simulator
Investment simulation
Arrow T3 -
Obligation
8%/year over 3.8 years
- PEA-PME
Simulation - Rate : 8% / year on 3.8 ans
Initial investment:
€5,000
Repayments and interest:
€6,520
In 4 transfers
| Date | Interest* | Capital | Amount |
| 11/07/2027 | €400 | €0 | €400 |
| 11/07/2028 | €400 | €0 | €400 |
| 11/07/2029 | €400 | €0 | €400 |
| 11/05/2030 | €320 | €5,000 | €5,320 |
| Total | €1,520 | €5,000 | €6,520 |
|
*Gross interest before tax, including all fees ( view taxation ) The result presented is not a forecast of the future performance of your investments. It is only intended to illustrate the mechanics of your investment over the investment period. The evolution of the value of your investment may vary from what is shown, either increasing or decreasing. |
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The project
Arrow is a portfolio of French photovoltaic projects spread across the departments of Sarthe, Manche, and Haute-Marne . One of them is already built, four others are at the ready-to-build stage, and the last one is still under development.
In the long term, the projects are expected to produce 8,561 MWh of energy, equivalent to the annual electricity consumption of more than 3,800 people .
💡 Did you know?
The unit “MWc” (pronounced MegaWatt peak) corresponds to the electrical power output of a photovoltaic panel under standard measurement conditions: - Air temperature at 25°C - Standard sunlight at 1,000 Watts per square meter
The “MWh” (pronounced MegaWatt hour) is a unit of energy. It is a power unit multiplied by a time unit.
💡 Did you know?
The P50 and P90 outputs refer to the probability that the expected output will be achieved over the year. Indeed, photovoltaic production is directly linked to weather conditions and is therefore subject to day-to-day and year-to-year variations. - P50 output corresponds to a 50% probability of achieving the expected output. It is therefore optimistic, as it is only achieved, on average, once every two years. - Similarly, P90 has a 90% probability of being achieved, making it more conservative.
Example of a project: Monnerie
In the commune of La Flèche (72), a set of solar canopies with a power output of 2.6 MWc will soon be built in the Monnerie parking lot, located in a leisure area on the outskirts of the town . At the ready-to-build (RTB) stage and winner of the French Energy Regulatory Commission (CRE) tender, the project benefits from a secure electricity purchase tariff for the next 20 years. It will be complemented by the installation of 5 electric vehicle charging stations, benefiting users of nearby shops and sports facilities.
The planned commissioning of the plant is January 2027 .
Example of a project: Petit Renard
Also in the commune of La Flèche (72), a set of solar canopies has been installed in the Petit Renard parking lot . With a power output of 0.5 MWc, the project has been operational since March 2026 and is expected to obtain its Consuel certification in the coming weeks. It benefits from an S21 electricity purchase contract for a duration of 20 years.
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Impact
Project owners
Founded in 2025 by a leading team in renewable energy , Mcel Energy is active in the development of photovoltaic projects, self-consumption, and energy storage.
Today, the company has 35 MWp of projects under development, including 8 RTB (Ready To Build) projects and 35 projects in development .
AN EXPERT TEAM
Co-founded by renewable energy experts with proven track records, Mcel Energy benefits from their experience to carry out its mission in service of the energy transition.
| Maarten de Haas | Nicolas Douchet | Nouri Taleb |
|---|---|---|
| Co-founder and CEO | Co-founder and CFO | Co-founder and CCO |
| Maarten de Haas | Nicolas Douchet | Nouri Taleb |
|---|---|---|
| Since 2017, Maarten de Haas has been working on the transition of companies toward renewable energy at the pan-European level. Former CEO of Sunrock France, he successfully launched and developed the company to make it a major player in the French market in just two years. An excellent team builder, Maarten de Haas is an inspiring operational leader. | Active in the French photovoltaic industry since 2010, Nicolas Douchet brings extensive experience in finance and strategy. With his entrepreneurial background in the solar energy sector, he has developed in-depth expertise in the French market. A visionary, Nicolas Douchet is also a guarantor of stability. | A committed entrepreneur, Nouri Taleb successfully transitioned from his thriving pharmaceutical business in France to focus on renewable energy, particularly through a large real estate portfolio powered by clean energy. Like nature itself, Nouri Taleb is a persistent force. |
Our analysis
Risk overview
Construction risks
Risk of higher construction costs due to rising raw material prices
Mitigation methods
Despite the lack of proposed construction contracts, MCEL Energy now appears to be in a strong negotiating position with its various potential partners, thanks to the competition among several market players. Through these negotiations, the company hopes to secure competitive rates, thereby limiting its initial capital expenditures.
Development risk
Risk relating to authorizations issued to the company and land, and third-party appeals against authorizations issued.
Mitigation methods
Development risk is limited by the portfolio’s diversity, as only one of the six projects in the portfolio is currently under development. The risk relates to securing feed-in tariffs for the Camping project, as the project has already obtained its building permit. This risk also pertains to the approval process for permits. A worst-case scenario would be securing a lower-than-expected feed-in tariff for electricity.
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
The portfolio business plan, modeled on the basis of guaranteed feed-in tariffs, projects a stable outlook over the next 20 years, enabling the project company to meet the senior financing criterion of a DSCR of 1.15x for each fiscal year. The pledge of the issuing company’s securities accepted by Total Energies Invest as part of the financing ensures that Total Energies Invest will take possession of these securities in the event that the company fails to make its annual interest payments.
Operating risks
Risk related to an activity that depends on a limited number of key persons responsible for carrying out the planned strategy. The risk is that one of these key persons leaves the project.
Mitigation methods
MCEL ENERGY is led by dedicated and experienced professionals with expertise in both the development of renewable energy projects and the financial structuring of project financing. The management team benefits from an extensive network of contacts in the sector, enabling it to facilitate partnerships, negotiations, and the structuring of fundraising efforts, particularly with banking partners. Financially, the company benefits from the support of its shareholders, who have already injected nearly €600,000 since its inception. At the same time, several bank loans are expected to be secured by MCEL ENERGY in the coming months to accelerate the group’s growth in terms of hiring and business development. These loans, currently under negotiation, are expected to be finalized by mid-2026. MCEL ENERGY is also highlighting a clearly defined strategy, with plans to hire more than six employees by the first half of 2026.
Investing in this participatory financing project involves risks, including the risk of total or partial loss of the capital invested. Your investment is not covered by the deposit guarantee schemes established in accordance with directive 2014/49/EU of the European Parliament and of the Council . Your investment is also not covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council . Return on investment is not guaranteed. This is not a savings product, and we recommend that you not to invest more than 10% of your net assets in participatory finance projects. You may not be able to sell the investment instruments when you wish. If you are able to sell them, however, you may incur losses.
