The European solar energy platform of Macquarie's Green Investment Group, Cero Generation, has switched on a 70 MW agrivoltaic project in Italy's Lazio region as one of the largest solar power plants in the country.
Cero says the project is the 1st in Italy to have a multinational consortium offtaker and has an 'innovative financing approach.' It is contracted by global brewing company HEINEKEN and global technology group Philips under 10-year virtual power purchase agreements (PPA).
For HEINEKEN, the project helps it move closer towards its 100% renewable electricity goal in Europe within a year. As for Philips, this agreement is aimed at supporting hospitals to control their emissions and reset their carbon footprint, it said.
According to Cero CEO Marta Martinez Queimadelos, "The virtual PPAs with HEINEKEN and Philips and the project's clever integration with agricultural crops embodies the scale of innovation needed to combat the climate crisis."
The 70 MW subsidy-free Pontinia Solar Project is located in the province of Latina on 135 hectares of land. Close to 65% of this space will be used for agricultural crops by social farm Fattoria Solidale del Circeo that will provide work on the farm to vulnerable or socially excluded people.
Cero says its current portfolio of 25 GW with 370 utility-scale projects is among the largest in Europe. It is also working on another 48 MW agrivoltaic project in Italy's Lazio that's scheduled to come online by 2023-end (see Europe PV News Snippets).
Italy is getting ready to host many more agrivoltaic projects that are supported by state funding. Recently, the European Commission approved €1.7 billion for the country to support more than 1 GW solar capacity through agrivoltaics (see European Commission Encouraging Agrivoltaics In Italy).