The agriPV project combines utility-scale solar with agricultural use, aiming to boost soil productivity and support traditional farming. It is backed by the largest agricultural farmer association in Italy, Coldiretti and Legambiente.
Calling Italy “a key market for NextPower V” for “one of the highest irradiance areas in Europe supported by infrastructure,” NPV ESG managing director Antonio Salvati said that agriPV projects bring nature enhancement, land productivity, local engagement and the clean green energy.
According to the firm, this is its “largest transaction in Italy and the largest agriPV project in Italy to date.” Moreover, it marks the fund’s eighth investment, raising committed capacity to 670MW, of which 220MW is operational and 230MW is nearing commissioning. Another 451MW of solar PV and battery energy storage systems (BESS) are under advanced negotiation, which would take NPV ESG’s committed capacity past 1GW.
Established in 2007, NPV ESG has secured US$843 million in commitments, including US$218 million in co-investments, from global investors, including UK LGPS, a Dutch pension fund, a Japanese insurer and returning investors, including KLP and a major Nordic pension fund.
Recently, NPV ESG acquired a 248MW solar PV portfolio comprising 12 projects in north-eastern Spain, marking its fourth investment. Since inception, the fund has identified 18GW of what NEC describes as “high-quality, attractive investment opportunities” and aims to invest in up to 5GW of renewable generation capacity through the NPV ESG fund.
