Reasons To Invest

• Invest in a physical asset planning to sell renewable electricity into the energy market
• Back a community-led solar farm to take back the power and transform how energy is done
• Get in early on this project backed by a $3.5 million government grant
• The solar farm is advanced and almost ready to go!

What do I get if I invest in Manilla Solar

By investing through Equity Crowdfunding, you will own shares in Manilla Solar and be part of our journey by becoming a shareholder. That means that you have a stake in the long-term success of the business should a liquidity event take place. To find out more about becoming a shareholder and what this means review our Investor Page.

The Problem

Investment and ownership of solar farms tends to be the exclusive domain of large companies and investment funds.

The community has no control over their level of investment and cannot know whether it will be enough to replace retiring coal power stations in time and to avoid rising electricity prices. 

The Solution

The Manilla Solar Farm is an opportunity to directly invest into a solar farm and take control of critical energy infrastructure while also helping to accelerate the energy transition.

The Industry

In NSW, nearly 60% of electricity comes from coal generation. This is down from approximately 80% about 5 years ago and the figure is expected to reduce further as large coal power stations like Liddell and Eraring retire. 

Replacing coal power stations with new solar and wind farms along with energy storage has faced various challenges: securing land, obtaining approvals and funding these projects is a complex task. 

Mid-scale projects like the Manilla Solar Farm can navigate these challenges more easily and be brought online quicker.

Competitive Advantage

The Manilla Solar Farm will sell electricity into the NSW segment of the National Electricity Market.  This is a commodity market with a price established by the market operator (AEMO) in 5 minute intervals and every power generator receives the same price. 

The main factor for economic success for a solar farm is the cost of construction and finance that determine whether a profit can be made.  While large-scale solar and wind projects have greater economies of scale, the Manilla Solar Farm has a reasonable scale to allow efficient construction and has grant funding from the NSW Regional Community Energy Fund to assist with the capital cost.  Larger-scale projects also have multiple levels of management that Manilla Solar can avoid. 

Importantly, speed to market is one of the biggest success factors as we are currently in a period of high electricity prices.  The sooner the Manilla Solar Farm is constructed, the sooner Manilla Solar can participate in this favourable market condition. 

Lastly, large-scale projects are often tied up in very complex commercial and financial arrangements.  The Manilla Solar Farm will have a more nimble set up and will be more able to adjust over time to changing market conditions and opportunities.

Business Model

At its core, the business model of Manilla Solar is simple:  raise finance, build and operate a community solar farm that sells renewable energy into the electricity market and provides community benefits. 

A key opportunity are the coming years until ~2030, as coal power stations retire and new large-scale renewable generation takes time to be delivered. Our plan is to finance and build the Manilla Solar Project as quickly as possible to tap into this opportunity.

Investment and deployment of battery storage opens up more revenue streams, including supply of power during peak demand periods at higher prices, as well as providing grid services.

Manilla Solar will be open to offer Power Purchase Agreements and other forms of support to aligned corporates seeking to reduce their emissions and support community energy. 

The Manilla Solar Project will deliver a number of community benefits that are also mandated by the government grant funding, including implementing means by which local residents and business can access renewable energy to reduce their power bills. 

Business Achievements

The Manilla Solar Farm secured  $3.5 million of grant funding from the NSW Government 'Regional Community Energy Fund' in 2020. This grant funding will enable the project to deliver a range of community benefits. 

A commercial partner has performed early design works and secured planning and grid connection approval during its development process.

Manilla Solar has recently raised over $300,000 of seed funding from local investors to commence the acquisition of the Manilla Solar Farm into community ownership, subject to a due diligence process.

This crowd equity raise is now opening up investment to the local community who are invited to make an investment from as little as $60 on the same terms as that seed raise.

Risks

The Company is a single-purpose project business consisting of the Manilla Solar Farm and seeking to sell electricity and renewable energy certificates generated by it.  The Company is not set up to diversify its assets and generate a multitude of different revenue streams.  This means that the Company is exposed to the upside and the downside of this singular focus.

Some of the development rights for the Manilla Solar Farm are currently owned by a commercial developer.  These rights need to be acquired (directly or indirectly) in order for Manilla Solar to realise the Manilla Solar Farm. While the key commercial parameters for the acquisition have been agreed, there remains a risk that the acquisition may fail due to the documentation not being agreed or detailed due diligence not being successful.

The Company is exposed to market forces in the global supply chains for solar farm equipment and in the construction sector.  The procurement process will ultimately create greater cost and timing certainty for the delivery of the Manilla Solar Farm. However, there remains a risk that the cost and timing outcomes do not meet the commercial expectations of Manilla Solar.

Use of Funds

Funds raised in this campaign will be used to progress the project further to investment readiness.

This will include completing outstanding development tasks and undertaking further fund-raising.  In parallel, the engineering will be progressed far enough to enable Manilla Solar to suppliers and contractors to build the Manilla Solar Farm.

About Swarmer

Swarmer is an Australian equity crowdfunding platform connecting businesses and investors. Designed to support start-ups, growth companies and scale-ups we allow everyday investors to own a share in businesses that are the future. We hold Australian Financial Services License (AFS License #507867). 

Find out more about becoming a shareholder via Equity Crowdfunding through Swarmer.