Pacifico, Eiffel sign up with hands in 300-MW agrivoltaic rollout in Italy

• Germany's Pacifico Energy Partners and French asset supervisor Eiffel Investment Group have consented to jointly service approximately 300 MW of agrivoltaic projects in Italy, several of which with integrated battery storage space.

The firms will certainly establish the schemes via a joint venture that will certainly get up to EUR 20 million (USD 21.1 m) from Eiffel, Pacifico claimed on Thursday.

Under the arrangement, Pacifico will bring mid-stage advancement projects to the JV's portfolio, while its companion will certainly take care of safeguarding bridge equity financing as well as the called for permits and authorisations. The growth procedure will certainly be handled by Pacifico. When the projects reach the ready-to-construction stage, the JV partners may market them.

Pacifico as well as Eiffel will generally concentrate on photovoltaic (PV) projects in the Lazio region of western Italy. The proposed solar farms will be set up on land that will be all at once utilized for power generation as well as agricultural functions such as olive tree planting and farming. Once completed, the power plants are anticipated to create electricity for greater than 200,000 neighborhood homes. A few of them will certainly be coupled with battery storage space systems.

Eiffel will certainly purchase the JV through a just recently released fund with the European Investment Fund (EIF) aimed at supplying equity bridge loan for as much as 7 GW of renewable resource assets in Europe.