NextEnergy Capital has secured a 73MW advanced agrivoltaic solar project in Campania, Italy, setting a new benchmark for the country’s agrivoltaic (AgriPV) sector. The acquisition, the largest of its kind in Italy, is a significant addition to the NextPower V ESG fund, which has now reached 670MW of committed capacity.
The project, once operational, will restore 140 hectares of land, with at least 70% dedicated to agricultural activities alongside solar generation. It has secured a 20-year contract for difference from the GME DM Agrivoltaico Auction, ensuring a stable revenue stream for the project’s entire volume.
Ross Grier, chief investment officer at NextEnergy Capital, emphasized the transaction’s alignment with the fund’s core principles. “This transaction marks a significant milestone for NextPower V and aligns closely with the fund’s principles of sustainability, innovation, and responsible investment,” he said.
Antonio Salvati, managing director of NextPower V ESG, highlighted the project’s innovative nature and its potential to set a precedent for future AgriPV mandates. “This is the largest transaction to date for NextPower V in Italy and provides an innovative AgriPV opportunity, ensuring it is resilient and prepared for future AgriPV mandates in Europe and other markets,” he added.
The NextPower V ESG fund has raised $843 million in commitments to date and anticipates its first dividends in the second half of 2025. The fund’s portfolio is diverse, with around 220MW already in operation, 230MW nearing energisation, and an additional 451MW in advanced negotiations.
This development could accelerate the adoption of AgriPV systems in Italy and beyond, demonstrating the viability of combining solar generation with agricultural activities. The project’s success may encourage other investors to explore similar opportunities, potentially reshaping the renewable energy landscape and promoting more sustainable land use practices. Moreover, the integration of solar generation with agriculture could help address land use concerns often associated with large-scale renewable projects, fostering a more harmonious relationship between energy production and food security.