In August 2026 Magnus executed its first co-ownership financing structure for solar lease assets, with a Philippine growth-finance institution.
The structure answers a constraint every zero-capex solar business eventually hits. Under a solar lease, we fund, build, own and operate the plant on a client's roof and sell them the power. The client pays no capital. That is exactly why they choose it — and it means every megawatt we put under lease consumes our balance sheet rather than theirs. Bootstrapped from zero since 2019, we have grown that book carefully, and it has always been the throttle on how fast the lease business could move.
Co-ownership changes where the capital comes from without changing who is accountable for the plant. The financing partner owns the asset. Magnus originates the opportunity, engineers and builds the system, operates and maintains it for the life of the contract, and shares the revenue it produces. The client's experience is unchanged: one counterparty, one tariff, one number to call when an inverter alarms at two in the morning.
What makes it work is that we already do all four jobs. A financier taking asset risk on a rooftop portfolio is underwriting the quality of the engineering and the durability of the O&M as much as the credit of the offtaker. We can show independently audited, SEC-filed accounts, an operating plan covering 117 sites and 33.8 MWp, and crews and warehousing in all three island groups. That is a different conversation from the one an installer has with a lender.
We expect this to be the first of several. The counterparty is not named here while the publicity terms of the executed agreement are confirmed; we will update this post rather than write a new one when that is settled.
