Technical and corporate DD for an equity raising of a residential rooftop company in Portugal

Published August 2025

Solar rooftop portfolio targeting 3,100 Clients and targeting 11 MWp and 9 MWh of BESS by the end of 2026 in Portugal. The business model is based on homeowners paying a monthly rent to the Sponsor in exchange for reduced grid electricity consumption, with additional offerings including batteries, EV chargers, and heat pumps.

Everoze conducted both technical and corporate due diligence tailored to this emerging residential energy-as-a-service model. Our DD-on-demand approach allowed us to adapt the risk assessment to the innovative nature of the business.

Key scope elements included:

  • Portfolio overview and site selection methodology
  • Review of energy yield assessment approach
  • Assessment of technology and key equipment suppliers
  • Contract drafting support including: Framework Services Agreement, O&M Framework Contract, Subscription Agreement and Asset Management Agreement
  • Financial model review and sizing of the Maintenance Reserve Account
  • Corporate due diligence covering teams, management, and processes from both a technical and commercial perspective

Bernardo Fernández, CEO of Bling mentions: “Everoze was quite knowledgeable on the sector and provided valuable insights with regards to best-in-class operations throughout the whole process, all in all very helpful.”

The work was led by Benoit Ribeaud and Christian Gertig, supported by Nastasia PacautStefan Mau, Marina Presas, Roman KorzynietzRagna Schmidt-Haupt, among others.