Enerland Group has reached financial close and secured €20 million in financing for the development and construction of its advanced agrivoltaic plant, Craco. The project has a capacity of 20 MWp and will be located in the municipality of Craco, in the Basilicata region (Italy). The asset is 100% owned by the company, and the financing has been provided by a single institution, Bankinter.
The project is part of the incentive mechanisms for advanced agrivoltaics and receives financial support from the National Recovery and Resilience Plan (PNRR), directly contributing to the energy transition, environmental sustainability and rural development goals promoted at national and European levels. The commercial structure contemplates a twenty-year contract under a PPA-CfD model with the GSE (Gestore di Servizi Energetici), an Italian public entity under the Ministry of Economy and Finance.
The plant has been designed to integrate solar power generation with agricultural and livestock activities. One of these is sheep grazing, that ensures efficient and sustainable land use and the continuity of local productive activities for a minimum period of 20 years. This approach not only enables us to meet our energy supply commitments, but also promotes social development and helps stem rural depopulation.
“We are delighted to announce the financing of our first project in Italy and we sincerely thank Bankinter for its trust and commitment. We would also like to thank all the stakeholders who have made this milestone possible, such as EY and Praxi, and express our gratitude to the municipality of Craco”, said Manuel Balet, CEO of Enerland Group.
He also added: “The addition of Craco to Enerland’s portfolio strengthens our position in Italy. We are convinced of the value that this asset can bring to the Italian market, and we are proud of this commitment and the rapid execution in the development of advanced agrivoltaic solutions”.
Current status of the Craco project
The substation’s construction began several months ago, and the commissioning of the project is scheduled in the middle of this year, in compliance with the requirements established by the GSE. During the construction phase, approximately 50 workers are expected to be involved, while the operational phase will create six permanent jobs over the next 30 years. Enerland has also launched a local development plan that prioritizes improving the infrastructure and services in the municipality of Craco, reinforcing the positive social impact of the project.
About Enerland Group Italy
Enerland Group is a Spanish multinational specialized in renewable energy, and has been operating in Italy since 2019, where it develops agrivoltaic, wind, and energy storage projects. Enerland Group Italy also has a 700 MW portfolio in an advanced stage of development, in addition to the 15 MW already built and 20 MW under construction. In the field of energy storage, the company is advancing projects with a total capacity of 1,528 MWh at various stages of development. Last December, Enerland also got granted two photovoltaic projects, one of which includes battery systems under the FER-X scheme, reinforcing its commitment to long-term investment and presence in the Italian market.
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