AEP Obernberg

Project introduction: Solar park and battery storage system at a shared location

AEP Obernberg combines an existing solar park with a planned battery storage system at the same location in Obernberg am Inn, Upper Austria. The solar park has a capacity of approximately 6 MWp and is already in operation. In addition, a battery storage system with 6 MW and 12 MWh of storage capacity is planned. The land and solar park are owned by the project company AEP OBB GmbH.

The generated solar electricity is primarily marketed through the existing regional energy community. Quantities not absorbed there flow into other energy communities or the public grid.

The planned battery storage system can absorb electricity independently of the solar park's current production and release it again at a later point in time. This allows it to be deployed on various electricity markets and create additional marketing opportunities for the project. CyberGrid is intended to take over the marketing and optimisation of the storage system. Completion and commissioning are planned for the second quarter of 2027. Revenues from the battery storage system can only be generated after successful construction, grid connection and commissioning.

How are revenues generated?

AEP Obernberg combines two different revenue sources: existing income from electricity production and planned revenues from the marketing of the battery storage system.

1. Revenues from the solar park

The solar park already generates revenues from the sale of the electricity it produces. This is primarily supplied to the regional energy community. The currently agreed electricity price is 11 ct/kWh.

The actual revenues depend in particular on the amount of electricity generated, offtake within the energy community and the electricity prices agreed in each case.

2. Revenues from the battery storage system

After construction, grid connection and commissioning, the battery storage system is intended to generate additional revenues. This will include in particular participation in the balancing energy market and short-term electricity trading. In short-term electricity trading, the storage system can absorb electricity at low market prices and release it again at higher market prices. CyberGrid is to take over the marketing and ongoing optimisation. The revenues actually achievable depend, among other things, on market prices, technical availability, energy losses and marketing costs.

AEP H2 GmbH and management

AEP H2 GmbH develops and implements energy solutions for companies, municipalities and other project partners. Its range of services covers photovoltaic systems, battery storage, solar carports, charging infrastructure and energy communities. AEP supports projects from planning and financing through implementation to ongoing operation. To date, approximately 400 owned photovoltaic systems with a total capacity of around 40 MWp and battery storage systems with a total capacity of around 4 MWh have been realised. For the implementation of AEP Obernberg, AEP takes on project development and technical and commercial management. Specialised partners are engaged for specific areas of the project.

Corporate structure

AEP H2 GmbH develops and manages the AEP Obernberg project. AEP OBB GmbH is the project company for the site and the owner of the land as well as the existing solar park. The planned battery storage system is also intended to be realised at the level of AEP OBB GmbH.

Currently, AEP H2 GmbH holds 100% of the shares in AEP OBB GmbH. In the course of the financing, these shares are to be taken over by AEP2 FNZ GmbH, which in turn is 100% owned by AEP H2 GmbH.

Investors invest in the bond issued by AEP2 FNZ GmbH. The capital raised is passed on as a subordinated loan to AEP OBB GmbH and used there to refinance project funds already deployed as well as for the construction and commissioning of the battery storage system.

Investors do not acquire a direct participation with the bond an der AEP OBB GmbH.

Partners for financing, technology and implementation

For the implementation of AEP Obernberg, AEP works with partners for financing, construction, storage technology, grid connection and marketing. The overview shows their respective role in the project.

Sources & use of funds

According to the current budget planning, a total investment of 9.887 MEUR is planned for AEP Obernberg. This covers construction and infrastructure costs, development, advisory and transaction costs, construction-period interest and financial reserves.

The financing consists of equity, senior debt and the financing offered via Invesdor.

The table below shows the sources and use of funds of the project. 

Cash flow & repayment of the bond

The planned payments to investors are made from the available cash flows of the project. These initially come from the ongoing operation of the solar park. Once the battery storage system has been completed and commissioned, additional revenues from its marketing will be added. The bond has a term of seven years and provides a fixed interest rate of 8.00 % p.a. as well as quarterly interest payments. The principal of the bond is to be repaid in stages from 2028 onwards over the remaining term.

Sustainability and SDGs

Actual and projected figures

Get insight into the company's financial figures, such as the development of revenue and earnings. Find out more about the growth forecast.

Collateral

The following security is provided for this funding round: a guarantee from AEP H2 GmbH in the amount of 300,000 euros and the assignment by way of security of the rights and claims arising from the subordinated loan between AEP2 FNZ GmbH and AEP-OBB GmbH.

The value of the collateral may fluctuate, particularly in the event of a default, which may result in a lower return. Detailed information on the collateral can be found in the KIIS in the documents section for this funding round.

Risk summary (simplified)

Investments in growth companies through bonds involve a very high level of risk. You may lose part or all of the money you invest.

The following text provides a brief and highly simplified overview of selected risks associated with an investment in AEP2 FNZ GmbH.

It is not exhaustive and does not replace the detailed description of the risks contained in the Key Investment Information Sheet (KIIS).

Before investing, you must read the KIIS in full and carefully assess whether you understand and are able to bear all the risks described therein.

In the event of any discrepancies between this summary and the KIIS, only the KIIS shall be legally binding.

Key risk areas (brief overview)

Project implementation and operation: The battery storage facility is still under construction. Construction, delivery, installation, technical malfunctions, battery degradation and safety incidents may cause delays or additional costs. Important contracts have not yet been finalised; suppliers or service providers may fail to perform. This may reduce project revenues.

Energy market and regulation: Revenues from the PV system depend on the sale of electricity to an energy community. Prices are agreed annually; there are no long-term fixed offtake volumes. Revenues from the battery storage facility are based on forecasts in a still-developing market. Electricity prices, grid restrictions, charges, taxes and regulations may change.

Default and returns: Interest and repayment depend on AEP2 FNZ GmbH receiving payments from AEP OBB GmbH. The project’s bank financing has priority over the loan granted by AEP2 FNZ GmbH to AEP OBB GmbH. The collateral and guarantee may not cover all investor claims. If cash flow is insufficient or one of the companies becomes insolvent, payments may be delayed or may not be made at all; a total loss is possible. Inflation, costs and your individual tax situation may further reduce your return.

Platform, sale, rights and technology: A platform failure may delay communications or payments. However, your contractual claims against the project owner remain unaffected. You will generally not be able to terminate the bond early; moreover, there is no liquid secondary market. A sale may be impossible or may result in losses. You have no voting rights, and the bond terms may be amended by the required majority. Technical problems, cyberattacks or loss of access to the digital register or electronic vault may temporarily or permanently prevent access to the bonds.

A complete and detailed description of all risk factors can be found exclusively in the KIIS in the document section of this financing round.

Investment-related documents

Log in to access further information.

No updates are currently available.

This section will be regularly updated with new, project-relevant information throughout the financing period. To be notified promptly about new updates, subscribe to our newsletter.