The European Commission (EC) last week gave its nod to a EUR-1.2-billion (USD 1.21bn) support scheme backing the installation of solar photovoltaic (PV) capacity across Italy’s agricultural sector.
The entire funding to be made available will be sourced from the country’s Recovery and Resilience Facility. As part of the initiative, agricultural and agro-industrial players, as well as companies involved in breeding, will be able to apply for direct grants covering up to 90% of the capital requirements needed for installing PV panels for self consumption.
The costs to be funded will be subject to certain ceilings, depending on the capacity of the solar arrays, the EC noted.
The support scheme will run until June 30, 2026.
Italy’s Recovery and Resiliency Facility was greenlighted by the EC last summer, providing the country with access to EUR 68.9 billion in grants and EUR 122.6 billion in loans to recover from the COVID-19 pandemic. Around 37% of the total allocation under the plan is earmarked for climate-related initiatives and renewable energy.
According to its national energy and climate plan, Italy aims to make renewables account for 30% of total energy consumption and 55% of electricity generation by 2030.
(EUR 1.0 = USD 1.010)
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