Cero nears construction start on PPA-backed agrivoltaic project in Italy

Cero Generation, an independent portfolio company of Macquarie’s Green Investment Group (GIG), has reached financial close for a 70-MW agrivoltaic solar project in Italy, which is backed by two power purchase agreements (PPAs).

The Pontinia project is expected to enter the construction phase this month and be completed in the first quarter of 2023. It will be implemented in the Province of Latina in the Lazio region.

The solar plant will make use of single-axis trackers, bifacial modules and string inverters. The developer says that 65% of the project site will be used for agricultural crops, which makes Pontinia one of the first large-scale agrivoltaic solar plants in the country. Its two long-term off-take contracts also make it one of the first corporate PPA project financings in Italy.

Cero has more than 9 GW of solar projects under development in Europe, including over 1.5 GW in Italy.

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