July 21 (Renewables Now) – Cero Generation, an independent portfolio company of Macquarie’s Green Investment Group (GIG), has reached financial close on a 48-MW agrivoltaic solar project in the Lazio region of Italy.
The company said it arranged the financing in partnership with Bayern LB, Siemens Financial Services through Siemens Bank, and Banco Santander.
The Castrum project is Cero’s second large-scale agrivoltaic installation in the country and is being implemented in the Municipality of Montalto di Castro, Viterbo province. When completed, which is expected to happen by the end of next year, the plant will not only generate electricity but also enhance sustainable food production. At least 65% of the 87-hectare site will be used for agricultural crops, Cero said.
Castrum is a zero-subsidy development backed by a long-term power purchase agreement (PPA) with Centrica Energy Trading.
Including this project, Cero’s total operational or under-construction capacity in Italy is rising to 133 MW. It is currently building another agrivoltaic facility of 70 MW in Latina province. In addition, the company has more than 1.5 GW of solar photovoltaic (PV) projects under development in the country.
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