Italian renewables developer Renantis SpA has officially commenced operations at its 9.7-megawatt (MW) solar agrivoltaic plant located in the village of Scicli, Sicily. The project, situated on 22 hectares of previously unused land in the Landolina district, integrates solar panels over 75% of the site, combining photovoltaics with crop cultivation.
Generating approximately 20 gigawatt-hours (GWh) of electricity annually, the solar farm represents a noteworthy step toward sustainable energy practices. The agricultural aspect of the initiative will be overseen by a local cooperative, emphasizing a dual-purpose utilization of the land.
Renantis took an innovative approach to funding by inviting local participation through a crowdfunding campaign initiated in late 2021. The campaign successfully raised over EUR 180,000 (USD 198,477) from 68 local investors, showcasing community support for the venture.
Participants in the crowdfunding initiative are set to receive an annual return of up to 6% on their initial investment for a ten-year period. Additionally, they have the option of full capital recovery, even in the case of an early exit, as outlined by Renantis.