What is it?

The Euregio+ Energy Alto Adige-Südtirol AIF, established under Article 12 of Ministerial Decree 30/2015 and for the purposes of Article 33, paragraph 2 of Legislative Decree 98/2011, is an Italian Alternative Investment Fund (AIF), real estate, reserved closed-end type as defined by Article 1, paragraph 1, letter m-quater of Legislative Decree 24 February 1998, n. 58 (the "Consolidated Finance Act" or "TUF"). It specializes in the energy sector, focusing on renewable sources through the development and management of photovoltaic plants on public and private areas and roofs.

The fund has a strong sustainability focus, aligning with the broader KlimaLand 2040 program, promoted by the Autonomous Province of Bolzano to address environmental issues crucial for regional development. The Province acts as a promoter, engaging its own properties, as well as those of municipalities and private enterprises, aiming to increase energy self-sufficiency and reduce CO2 emissions, ultimately improving citizens' quality of life and reducing pollution-related diseases.

The Fund's activity mainly revolves around increasing the value of areas contributed or acquired by the Fund during its lifetime, primarily to build, develop, and manage photovoltaic plants for the production, storage, and direct or indirect commercialization of electricity (the "Plants"), and to benefit from the revenues derived from the sale of electricity produced by these Plants, also through: (i) signing leasing and/or rental agreements; and/or (ii) signing power purchase agreements via corporate vehicles controlled by the Fund or real estate companies in which the Fund holds a stake.

The Fund offers Investors the opportunity to invest in the "real" economy with a strong environmental focus related to renewable energy production. In addition to producing and injecting energy into the grid, the Fund will make plants available to end customers through rental and/or operational leasing formulas, allowing self-consumption for clients.

Revenue is achieved through a prudent and sustainable strategy for determining rental and leasing fees, including a discount compared to final market energy prices for end customers, combined with low vacancy and insolvency risks.

The Fund will handle the construction of plants on areas and roofs within the Fund's assets and will manage the plants, ensuring ordinary, extraordinary, and scheduled maintenance.

The SGR (Fund Management Company) has selected an institutional Investor (Alperia Green Future S.r.l. of the Alperia S.p.A. group) who has demonstrated adequate competence and has also assumed technical and ancillary roles such as Advisor and General Contractor for the Fund.

Responsible Investment

The Fund qualifies as a financial product that promotes environmental and/or social characteristics under Article 8 of the Regulation (EU) 2019/2088 of the European Parliament on sustainability-related disclosures in the financial services sector (the so-called SFDR Regulation).

The investment aims to have a positive environmental and social impact, representing one of the most promising solutions to promote energy sustainability and contribute to the transition to renewable energy sources, in alignment with the European Green Deal.

The main sustainability features of the product are:

• Environmental: The photovoltaic plant significantly contributes to reducing greenhouse gas emissions, supports the energy transition to renewable sources, and decreases the consumption of natural resources in the long term.
• Economic: Photovoltaic solutions can lead to substantial long-term savings by reducing energy costs. Investments can also drive technological innovation and economic growth, supported by public policies ensuring equitable access to renewable technologies.
• Social: Photovoltaic plants for self-consumption aim to improve quality of life over time by lowering energy costs and increasing self-sufficiency.

In the selection and evaluation of investment opportunities, traditional techniques of analyzing the economic-financial risk/return profile are integrated with the analysis of the ESG (Environmental, Social, Governance) risk profile using specific ratings (the "ESG Ratings") developed based on an internally developed methodology.

 For more information on how the product promotes environmental and social characteristics, see the Disclosure pursuant to Article 24 of Regulation (EU) 2022/1288.

Type of investor

The AIF is exclusively reserved for two types of clients:

a) Individuals who qualify as “professional investors” under Art. 1, paragraph 1, letter p), of Ministerial Decree 30/2015. These individuals must declare and prove, according to the regulations in force at the time, that they belong to this category.

b) Individuals who qualify as “non-professional investors,” provided that they subscribe (or purchase) Fund Units for a total amount not less than the minimum amount provided by Ministerial Decree 30/2015 and its subsequent amendments.

Additionally, under Article 14, paragraph 3 of Ministerial Decree 30/2015, the AIF can be marketed to public entities that do not meet the criteria to be classified as public professional clients under Ministerial Decree 11 November 2011, n. 236. This is limited to cases where the participation of these entities in the real estate AIF occurs through the direct contribution of real estate assets or real rights in rem, including concessionary relationships, for public asset enhancement operations pursuant to Article 33 of Legislative Decree 6 July 2011, n. 98, converted into law 15 July 2011, n. 111.

The indicative types of investors include, beyond the Institutional Investor already identified in Alperia Green Future Srl, which also handles ancillary activities, banks, insurance companies, guarantee consortia, pension funds, public entities, social security institutions, and large enterprises meeting at least two size criteria specified in the Fund's Regulations.

The Fund issues three classes of units (respectively, “Class A Units”, “Class B Units” and “Class C Units”) which grant the respective investors differentiated rights, in accordance with the terms and conditions outlined in the Fund’s Regulations.