Danish project developer European Energy is planning to build a major agrivoltaic installation in Vizzini, Sicily, which the company says will be the largest solar plant of its kind in Italy to date at 225 MW. Commercial operation is scheduled to begin in 2028, and European Energy has now secured the financing needed to move the project forward.
Refinancing through CfD
France's agricultural bank Crédit Agricole CIB, Italian banking group Intesa Sanpaolo, Germany's NORD/LB and French commercial bank Société Générale are together contributing €234.1 million. According to the company, the financing demonstrates the bankability of agrivoltaic projects, which combine utility-scale renewable generation with continued agricultural use.
Refinancing is also secured, as the project benefits from a Contract for Difference awarded through the state tender, running over 20 years. “Securing financing for projects of this scale reflects the quality of our development work and our ability to deliver investment-ready renewable energy assets,” said Jens-Peter Zink, Deputy CEO at European Energy. “Strong interest from leading international and Italian lenders demonstrates continued confidence in well-structured renewable energy projects backed by stable regulatory frameworks.”
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Dual land use is mandatory
At this scale, the Vizzini agrivoltaic project is one of the first financings of an agrivoltaic installation of such size and complexity in Italy. Unlike conventional solar parks, the Vizzini plant is being designed so that both electricity production and continued agricultural use of the land remain possible. This dual use is in fact a regulatory requirement in Italy for solar installations built on agricultural land. Sheep will graze beneath the elevated modules, and European Energy will also implement additional measures to enhance biodiversity on the site and launch a reforestation initiative.
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Agrivoltaics becoming the standard
Construction of the plant has already begun. Once operational, European Energy expects annual electricity production of 405 GWh. “Vizzini demonstrates that agrivoltaics can move beyond development into large-scale construction and financing,” said Filippo Ricci, Country Manager for Italy at European Energy. “The combination of contracted revenues, secured grid connection and a robust technical and agricultural design has enabled us to establish a bankable structure for a particularly complex renewable energy project. That is important not only for Vizzini, but also for the development of the agrivoltaic market in Italy.” (su)
