0000000000-20-005331.txt : 20200911 0000000000-20-005331.hdr.sgml : 20200911 20200616144805 ACCESSION NUMBER: 0000000000-20-005331 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200616 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Energea Portfolio 1 LLC CENTRAL INDEX KEY: 0001808949 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC, GAS & SANITARY SERVICES [4900] IRS NUMBER: 844475410 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 9 CEDAR LANE CITY: OLD SAYBROOK STATE: CT ZIP: 06475 BUSINESS PHONE: (860) 316-7466 MAIL ADDRESS: STREET 1: 9 CEDAR LANE CITY: OLD SAYBROOK STATE: CT ZIP: 06475 PUBLIC REFERENCE ACCESSION NUMBER: 0001213900-20-013047 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]4>7!E+UA/8FIE8W0O0V]L;W)3 M<&%C92]$979I8V5',Z%$;3 BU,"VEA6J % M6J %6J %6J %6J %6O ]*WOEK(,D*\X#9H:[]P]6<&19EAU+^GP>RR(B(B(B M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B+_-A\?'^_O[V]O;Z^OKR\' MGI^?GP[$AY="%(AB43AV^=.M%A$1$1$1$9$?2,H4S\_/CX^/]_?WOP[<'=E- MR6+L]?OW[ZCAZ>GI]?5504-$1$1$1$1$+N;M[>WIZ>GAX6&_WS<"Q:]?O^[O M[^.KQW.(\K]__VZJBLJ1,EY>7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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filename2.txt United States securities and exchange commission logo June 15, 2020 Michael Silvestrini Manager Energea Portfolio 1 LLC 9 Cedar Lane Old Saybrook, CT 06475 Re: Energea Portfolio 1 LLC Amendment No. 1 to Offering Statement on Form 1-A Filed June 5, 2020 File No. 024-11218 Dear Mr. Silvestrini: We have reviewed your amended offering statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your offering statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our June 2, 2020 letter. Amendment to the Offering Statement on Form 1-A Executive Summary Our Story , page 3 1. You assert that "the customer will typically save 20% - 40% on its electricity bill." However, the appendices to the offering statement indicate that the estimated customer savings for your Itaguai I Project and Palmas Project are 15% and 18.5%, and the information is blank for your Itaguai II Project. Please explain or reconcile these apparent inconsistencies. The Offering, page 4 2. We note your response to our prior comment 2 but continue to believe that you should file Michael Silvestrini Energea Portfolio 1 LLC June 15, 2020 Page 2 the related material contracts. For example, it appears that the revenues to be generated by the Palmas Project will represent the majority of the company's revenues in 2021. Please file as exhibits the contracts relating to this project pursuant to Section 6(b)(ii) of Item 17 of Form 1-A, or tell us why you believe these contracts are not required to be filed. Our First Projects, page 26 3. You disclose an 'Estimated Project IRR" for each of your anticipated first three projects. Please explain to us in necessary detail how you calculated these internal rates of return. In addition, please ensure that all material assumptions underlying these calculations are disclosed in the offering statement. Financial Statements Notes to financial statements, page F-8 4. We note your response to prior comment 5 indicating that the company's fiscal year ends on December 31st for both tax and financial reporting purposes. Please disclose the company's fiscal year-end in the notes to your financial statements in your next amendment. You may contact Joanna Lam, Staff Accountant at 202-551-3476 or Craig Arakawa, Accounting Branch Chief, at 202-551-3650 if you have questions regarding comments on the financial statements and related matters. Please contact Irene Barberena-Meissner, Staff Attorney, at 202-551-6548 or Tim Levenberg, Special Counsel, at 202-551-3707 with any other questions. FirstName LastNameMichael Silvestrini Sincerely, Comapany NameEnergea Portfolio 1 LLC Division of Corporation Finance June 15, 2020 Page 2 Office of Energy & Transportation FirstName LastName