Enerland Group has reached financial close and secured financing of €20 million for the development and construction of its advanced agrivoltaic park, Craco. The project has a capacity of 20 MWp and will be located in the municipality of Craco, in the Basilicata region of Italy. The asset is 100 % owned by the company and the financing has been granted by a single financial institution, Bankinter.
The project falls within the incentive mechanisms for advanced agrivoltaics and has the financial support of National Recovery and Resilience Plan (PNRR), contributing directly to the objectives of energy transition, environmental sustainability and rural development promoted at national and European level. The commercial structure includes a twenty-year contract under a PPA-CfD model with the GSE (Gestore di Servizi Energetici), the Italian public body under the Ministry of Economy and Finance.
The plant is designed to integrate solar energy generation with agricultural and livestock activities. These notably include sheep grazing, which ensures efficient, sustainable land use and the continuation of local productive activities for a minimum period of 20 years. This approach not only makes it possible to meet energy supply commitments, but also promotes social development and helps curb 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 parties who made this milestone possible, such as EY and Praxi, and to express special thanks to the municipality of Craco," said Manuel Balet, CEO of Enerland Group.
They also added: "The addition of Craco to Enerland's portfolio strengthens our position in Italy. We are convinced of the value this asset can bring to the Italian market, and we are proud of our commitment and of the swift execution in the development of advanced agrivoltaic solutions."
Current status of the Craco project
Work on the substation began several months ago and the project is scheduled to be commissioned in the middle of this year, in compliance with the requirements established by the GSE.
During the construction phase, the involvement of around 50 workers is expected, while six permanent jobs will be created during the operational phase over the next 30 years. In addition, Enerland has promoted a local development plan that prioritises improving infrastructure and services in the municipality of Craco, strengthening the project’s positive social impact.
About Enerland Group Italy
Enerland Group, a Spanish multinational specialising in renewable energy, has been present in Italy since 2019, where it develops agrivoltaic, wind and energy storage projects.
Enerland Group Italia currently has a portfolio of approximately 700 MW in an advanced stage of development, in addition to 15 MW already built and 20 MW under construction. In the field of energy storage, the group is driving projects with a total capacity of 1,528 MWh at different stages of development.
Likewise, during last December, Enerland was awarded two photovoltaic projects, one of them with battery systems under the FER-X scheme, reinforcing its commitment to investment and long-term presence in the Italian market.