UK-based asset manager NextEnergy Capital has acquired a 73-megawatt (MW) agrivoltaic solar project in the Campania region of southern Italy, in what it says is the country’s largest transaction of its kind to date.
The project, which combines solar power generation with agricultural land use, is the largest to be undertaken so far by the company’s NextPower V ESG fund. The acquisition brings the fund’s total committed capacity to 670MW, NextEnergy said on Monday.
Once operational, the project will restore 140 hectares of land, with over 70% designated for continued agricultural use. It has secured a 20-year contract for difference (CfD) through Italy’s GME DM Agrivoltaico Auction, covering 100% of its electricity output.
“This transaction marks a significant milestone for NextPower V and aligns closely with the fund’s principles of sustainability, innovation, and responsible investment,” said Ross Grier, chief investment officer at NextEnergy Capital.
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.”
The fund has raised $843 million in investor commitments so far and expects to distribute its first dividends in the second half of 2025. Its portfolio includes approximately 220MW of operating assets, 230MW approaching energisation, and a further 451MW in advanced-stage negotiations.
