NextEnergy Capital has acquired a 73MW advanced agrivoltaic solar project in Campania, marking the largest AgriPV scheme to date in Italy.
The transaction is the biggest in the country so far for its NextPower V ESG fund, which has now reached 670MW of committed capacity.
Once energised, the project will restore 140 hectares of land, with at least 70% reserved for agricultural activity alongside solar generation.
It has secured a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume.
Ross Grier, chief investment officer at NextEnergy Capital, said: “This transaction marks a significant milestone for NextPower V and aligns closely with the fund’s principles of sustainability, innovation, and responsible investment.”
Antonio Salvati, managing director of NextPower V ESG, added: “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.”
NPV ESG has raised $843m in commitments to date and expects first dividends in the second half of 2025.
The fund’s portfolio includes around 220MW in operation, 230MW nearing energisation, and a further 451MW in advanced negotiations.