Renewable Energy
They are two different things. Under a PPA, a user signs an energy purchase contract with the SPV and pays for the energy they consume: they own nothing. By subscribing shares, an investor becomes a shareholder of the company that owns the solar system and shares in the project's profits.
Example: in the same project, the host user signs the PPA with the SPV, and the investor subscribes shares in that SPV. Two different counterparties to the same asset.
Full guide
What is a PPA, or power purchase agreement
How a solar power purchase agreement works in Colombia: the four steps, the six parties involved, what goes in writing and when it isn't for you.
Read the guide