LONDON, UK – In another significant boost for the renewable energy investment sector, CSM Securities Sàrl has officially announced the successful full redemption of its secured Medium Term Notes regarding the Santa Marta Solar Park in Alcoutim, Portugal.
Investors in the three-year fixed income opportunity have received their full capital alongside a healthy 60% return, marking a definitive success for early-stage solar development financing in the Iberian Peninsula.
The Santa Marta project, a 200MW ground-mounted solar facility located in the high-yield Algarve region of Portugal, has met many of its strategic milestones, advancing from early-stage development to a significantly de-risked project, attractive to institutional buyers. This successful maturity highlights the efficacy of the underlying strategy, where project values often double between early stage, on their journey to ultimately achieving ready to build stage, as they secure an array of permits.
A Proven Strategy in Solar Energy Investment
The success of the Santa Marta bond was driven by a disciplined focus on the “funding gap” that exists between early stage projects and the construction-ready phase. By securing a 420-hectare site under a long-term lease and navigating the Portuguese “Acordo” framework, the project team successfully created significant intrinsic value.
The technical execution was managed by Shannon Energy, an originator with a track record of over 500MW in clean energy capacity. Their ability to secure multiple permits and approvals was central to the project’s increase in value.
Securing the Yield: 60% Total Return Realised
As of the 31st of December 2025, the Issuer confirmed that all bonds were redeemed in full, with final coupons paid to bondholders. Listed on the Frankfurt Stock Exchange, the security provided a transparent, asset-backed route for High-Net-Worth Individuals to participate in the European energy transition.
The maturity value (representing a 60% profit) was paid pro-rata to investors, validating the high-alpha potential of specialized solar energy investment when paired with experienced project developers.
The Next Chapter: Introducing the Solar45 Opportunity
Following the successful exit of Santa Marta, the team has launched its next flagship installation: Solar45. This new offering is designed for sophisticated investors seeking to capitalise on the continued momentum of Portugal’s renewable targets. Importantly, the Santa Marta project actually forms a part of the underlying portfolio of Solar45, in yet another encouraging note for potential investors in this new offering.
Solar45 targets a 45% fixed return over a 3-year term, providing a structured fixed income return of 15% per annum, paid at maturity. The programme is already open for new investment with an initial 10 million euro issuance.
Optimising the Risk-Reward Profile
While the previous Santa Marta opportunity offered 60%, the Solar45 bond is structured at 45% to reflect a significantly de-risked investment profile. This evolution in the portfolio strategy offers several enhanced security features:
• Diversified Pipeline: Unlike a single-asset project, Solar45 invests in a pipeline of solar and Battery Energy Storage Systems (BESS).
• Infrastructure Synergy: By co-locating storage with solar, the project hedges against grid volatility and pricing risks.
• Proven Framework: The team now operates with a more established “Acordo” framework and deeper local regulatory integration.Future-Proofing Portfolios with Clean Energy
For the modern High net worth investor, Solar45 represents a “Smarter Slice of Solar. It bridges the gap between early stage projects without essential permitting, and an ultimate institutional sale, focusing on the least capital-intensive yet most profitable portion of the project lifecycle.With a Vienna Stock Exchange listing expected shortly, Solar45 provides a clear, time-bound path to 45% growth, backed by the same leadership and expertise that delivered the Santa Marta success.
