UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
CURRENT REPORT PURSUANT TO REGULATION A OF THE SECURITIES ACT OF 1933
April 6, 2021
(Date of Report (Date of earliest event reported))
ENERGEA PORTFOLIO 1 LLC
(Exact name of registrant as specified in its charter)
| Delaware | | 84-4475410 |
(State or other jurisdiction of
incorporation or organization) | | (IRS Employer
Identification Number) |
35 Noble Street
Brooklyn, NY | | 11222 |
| (Address of principal executive offices) | | (Zip Code) |
(860) 316-7466
Registrant’s telephone number, including area code
Class A Investor Shares
(Title of each class of securities issued pursuant to Regulation A)
Acquisition of Projects
The Company has acquired the following three Projects:
| | Itaguai I | | Itaguai II | | Palmas |
| Power Capacity | | 1.00 MW AC | | 1.00 MW AC | | 4.27 MW AC |
| | | | | | | |
| Name of SPE | | Energea Itaguai I Aluguel de Equipamentos e Manutencao Ltda. | | Energea Itaguai II Aluguel de Equipmentos e Manutencao Ltd. | | Energea Palmas Geracao S.A. |
| | | | | | | |
| State | | Rio de Janeiro | | Rio de Janeiro | | Bahia |
| | | | | | | |
| Location | | Itaguai | | Itaguai | | Malhada |
| | | | | | | |
| Land Status | | Leased | | Leased | | Leased |
| | | | | | | |
| Customer | | Nova Geracao Comestiveis LTDA | | Condominio Shopping da Habitacao – Casa Shopping | | Telefonica Brasil S.A. |
| | | | | | | |
| Initial Contract Term | | 15 Years | | 10 Years | | 20 Years |
| | | | | | | |
| Purchase Price | | $933,257.00 | | $986,666.00 | | $4,790,559.00 |
| | | | | | | |
| Estimated Equity | | $894,642.35 | | $965,707.43 | | $4,717,208.93 |
| | | | | | | |
| Estimated Debt | | N/A | | N/A | | N/A |
| | | | | | | |
| Estimated Project IRR* | | 13.5% | | 12.6% | | 14.7% |
| * | We calculate the internal rate of return for the Project based on the anticipated cash flows from the Project. We assume that the Project will have a zero value at the expiration of the initial contract term. This is intentionally a conservative assumption. In almost all cases a Project will have some residual value, and sometimes a significant residual value. For example, we might enter into a new Project Rental Contract for the Project, even if at a lower rent. |
EXHIBITS
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on April 6, 2021.
| | ENERGEA PORTFOLIO 1 LLC |
| | | | |
| | By: | Energea Global LLC, |
| | | Its Manager |
| | | | |
| | | By: | /s/ Michael Silvestrini |
| | | | Manager |
| | | | |
| | | By: | /s/ Christopher Sattler |
| | | | Manager |
DATED: April 6, 2021
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