UK bank backs four new solar farms in Italy

UK-based NextEnergy Capital, a bank specialising in renewable energy, has chosen Italy for its next solar power investments: four Enerqos solar farms to be built in Apulia.

Under an agreement signed last year, NextEnergy Capital will invest €1 billion in Enerqos for European solar farm construction. The total value of the initial projects in Apulia is estimated at about €20 million.

Enerqos will construct the four facilities, each with a 1-megawatt production capacity. One of the farms will feature Enerqos’ patented biaxial Solar Totem® tracking technology, which will allow performance to be increased by 38 per cent compared to conventional fixed mounting systems. All four solar farms will be equipped with a remote-management system for monitoring performance and timely detection of any operational anomalies.

All four facilities are expected to be completed and fully functional by autumn.

Under its agreement with Enerqos, NextEnergy has licensing permission under way for additional facilities in Apulia and Sicily, of which 37 megawatts will start construction later this year. Enerqos will also build additional plants for NextEnergy in Greece and France at a later date.