NextEnergy Capital Acquires Italy’s Largest Agrivoltaic Project

NextEnergy Capital (NEC), a global renewables manager focused on the solar+ sector, has acquired a 73MW advanced Agrivoltaic project in Campania, South-Eastern Italy. This is the Fund’s largest deal in Italy and the biggest AgriPV project in the country to date. The project will restore 140 hectares of land, with at least 70% dedicated to agriculture, while producing clean electricity from solar PV. It has secured a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its output.

The acquisition is the Fund’s eighth investment. It brings total committed capacity to 670MW, with about 220MW in operation and 230MW due online soon. Another 451MW of solar PV and battery storage is in advanced negotiation. Once completed, the portfolio will exceed 1GW of committed capacity. NPV ESG has raised $843 million in commitments, including $218 million for co-investments, from global investors such as pension funds, insurance companies, and existing NEC backers. 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. The transaction required the relentless work of many varied stakeholders across the NextEnergy Group and showcases the benefits of having access to the entire solar value chain from investment to development, being able to deliver a high-quality project in a de-risked fashion for our investors. I am proud of the teams for driving forward this innovative, industry leading, advanced AgriPV project as we continue to push towards the global clean energy transition.”

The project combines large-scale solar with active farmland to improve soil health and support traditional land use. It is backed by Coldiretti, Italy’s largest farmers’ association, and Legambiente, an environmental NGO. Agrivoltaics offer multiple benefits, including higher land productivity, water conservation, and protection from extreme weather. They also give farmers new income streams, reducing reliance on traditional agriculture and strengthening local community resilience.