Agios Theodoros Solar Park
Connection terms pending
Target Q4 2026
Ref: PARK-RTB-2026

Agios Theodoros Solar Parkwith Battery Storage

Utility-scale solar PV with integrated BESS • Merchant DAM exposure • Strong leveraged equity returns

Agios Theodoros, Larnaca District, Cyprus
2.64 MWp
Solar Capacity
10.56 MWh
Battery Storage
~16-20%
Leveraged IRR (indic.)
€834k
Y1 gross energy revenue

Investor pack — indicative materials only; not an offer to sell securities.

Solar PV System

Installed Capacity
2.64 MWp
Technology
680W Bifacial TopCon
Bifaciality 75%, gain +11%
Mounting
Fixed Tilt 25° South
Albedo 0.7 (white surface)
Specific Yield
2,150 kWh/kWp
Annual Generation
5.68 GWh
Estimated annual production

Battery Energy Storage

Capacity
10.56 MWh
Duration
4 Hours
Daily Cycles
1 Full Cycle
Function
Peak Shifting
Key Benefits
  • • Evening peak dispatch (~€183/MWh ref.)
  • • Hybrid solar + BESS revenue stack on merchant DAM
  • • Grid services and future market upside

Financial Structure

Conservative assumptions with strong leveraged returns

Capital Expenditure

PV EPC Cost€1.90M
(€0.72/Wp turnkey)
BESS System€1.34M
(€127k/MWh ex VAT)
RTB Acquisition€1M
Development€350k
(Grid, permits, fees, contingency)
Total CAPEX€4.59M

Financing Structure

Senior Debt (~70% of PV+BESS)€2.27M
On PV EPC + BESS
Equity (RTB + Dev + balance)€2.32M
Equity Required€2.32M
DSCR: Above 3.0x (conservative)

Revenue & Returns

Avg DAM (TSOC sample)~€158/MWh
Peak evening (17–21h)~€183/MWh
Y1 gross energy revenue~€834k
Solar €280k + BESS €554k (indicative model)
Annual OPEX (Y1, incl. land)~€122k
PV €40k + BESS €26k + Other €38k + Land €18k
FCFE / debt servicesee Excel model
Leveraged Equity IRR (indicative)
~16-20%

Investment Options

Flexible equity participation suitable for private investors, family offices, and strategic energy investors

25%

Equity Stake

Investment
€580k
Annual Cash Flow
~€184k/yr
Express Interest

50%

Equity Stake

Investment
€1.16M
Annual Cash Flow
~€367k/yr
Express Interest

75%

Equity Stake

Investment
€1.74M
Annual Cash Flow
~€551k/yr
Express Interest
FULL OWNERSHIP

100%

Equity Stake

Investment
€2.32M
Annual Cash Flow
~€735k/yr
Express Interest

Why This Project

Connection terms pending

Major permits in place — confirm formal EAC grid connection terms in diligence before close.

Integrated BESS

4-hour integrated BESS — 3,025 MWh/yr indicative discharge at evening peak prices (TSOC DAM sample). BESS revenue Y1 ~€554k.

Premium Technology

680W bifacial TopCon, fixed tilt 25° south, white albedo ground (bifacial gain +11%) — delivering 2,150 kWh/kWp specific yield.

Strong Returns

Leveraged equity IRR ~16-20% — merchant DAM and hybrid dispatch model with upside from rising peak prices. Full derivation in Excel Revenue_Model sheet.

Single Operator

Lighthief handles EPC, BESS integration, and long-term O&M - one experienced partner.

De-risked Investment

RTB status, integrated BESS, and DSCR above 3.0x provides a de-risked investment profile.

Delivery & Operations

Single experienced operator from construction to operations

Lighthief Logo

Lighthief

Full-service solar developer & operator

EPC Contractor

Turnkey construction

BESS Integration

Energy Management System

Long-term O&M

Asset management

Interested in This Project?

Schedule a call to discuss investment options, review detailed financials, and understand the project timeline.

Reference: PARK-RTB-2026 | Agios Theodoros, Larnaca District, Cyprus