Solar farm finance

NextEnergy Capital is financing turnkey solar system supplier Enerqos to construct four solar farms in Apulia, Italy.


NextEnergy Capital, the European merchant bank specialising in renewable energy, is financing turnkey solar-system supplier Enerqos to construct four solar farms in Apulia, Italy.


Last year, the two companies signed an agreement that will see Enerqos construct €1bn-worth (£856m) of solar farms in Europe. The value of the initial projects is approximately €20m.
 
Enerqos will develop, design and construct all four of the new 1MW solar farms as well as manage and maintain them.


One of the farms will feature Enerqos’s patented biaxial Solar Totem tracking technology, which will boost its performance by 38 per cent compared with conventional fixed mounting systems.


All the solar farms will be equipped with a sophisticated remote-management system, based on the Osiride PVE operating system also patented by Enerqos, to monitor their performance.
 
Stephen Sommadossi, co-founder of NextEnergy Capital, said: ‘The construction of these installations is the first step of a long-term partnership with Enerqos.’


NextEnergy has a license to build additional facilities in Apulia and Sicily, of which 37MW will start construction later this year. Enerqos will also build additional plants for NextEnergy in Greece and France at a later date.