The energy transition is moving fast, and industrial companies are increasingly looking for more efficient ways to manage their capital. This has led to the emergence of financial solutions that optimize existing projects. One of the best-known models is Sell & Lease Back (or “sale and leaseback”) applied to photovoltaic installations.
At Solventa6, we incorporate this service through a specialized partner to offer new options to companies that already operate a solar plant and want to quickly recover their investment without losing access to the energy generated.
What exactly is a Sell & Lease Back?
Sell & Lease Back is a financial operation that consists of:
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Selling the photovoltaic plant to an investor or financial institution.
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The investor becomes the new legal owner of the assets.
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The selling company signs a lease contract, usually combined with an onsite PPA, which allows it to continue using the installation in exchange for a price assigned to the energy consumed from the plant. In this case, which is the most common: PPA Price = Plant OPEX + return on investor capital CAPEX + margin for the financier.
As a result, the company moves from having a fixed asset on its balance sheet to converting it into a predictable and tax-deductible operating expense (OPEX).
Why is it relevant in industrial photovoltaics?
Because many companies that made the investment 1, 2 or 3 years ago are now looking to:
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Free up capital to take on new projects, expand production lines or strengthen cash flow.
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Outsource management and reduce technical risks.
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Maintain the energy generated and the benefits associated with self-consumption.
In this model, the investor obtains a stable return through lease payments or via an internal PPA with the same energy consumer.
How does it work?
| Stage | Actor | Description |
|---|---|---|
| 1 | Industrial company | Has financed and installed the plant; it is already in operation. |
| 2 | Investor or fund | Purchases the installation (sell). |
| 3 | Industrial company | Signs a lease contract and continues to use the plant. |
| 4 | Optional | An internal PPA is established with a fixed or indexed price. |
Benefits of Sell & Lease Back
- Combined with a PPA, Sell & Lease Back allows savings by obtaining a total price for the plant lease + consumed energy cheaper than the grid.
- Immediate liquidity recovery: transforms an already made investment into cash available today.
- Improvement of financial ratios: reduces technical debt, lightens the balance sheet, and can improve borrowing capacity.
- Outsourcing maintenance and risks: the investor assumes technical responsibilities, O&M, and any repairs.
- Continuity of self-consumption: the company continues enjoying the same energy produced by the plant.
- Stable and plannable payments: moving from CAPEX to OPEX facilitates cost forecasting and optimizes taxation.
Drawbacks and points to consider
As attractive as it may be, this model also has aspects that must be carefully evaluated:
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Loss of direct control over the plant.
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Additional financial cost (lease payments or PPA).
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Possible limitations on modifying or expanding the installation.
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Review of shared self-consumption agreements, if applicable.
For this reason, a thorough prior analysis is essential, covering legal, energy and financial aspects.
The added value of Solventa6
At Solventa6, we advise our clients throughout the entire process:
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Technical assessment of the plant and its condition.
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Analysis of production, performance and remaining useful life.
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Study of the most suitable financial model.
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Support in the relationship with the investor and contract negotiation.
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Re-engineering if needed to integrate an internal PPA, batteries or future expansions.
The goal is to maximize the return on the plant and ensure energy continuity with full security.
