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Italian renewables developer Renantis SpA has initiated commercial operation of a 9.7-MW solar agrivoltaic plant in the village of Scicli in Sicily, the company said on Thursday.
The Scicli solar agricultural scheme spans 22 hectares (54.4 acres) of previously uncultivated land in the Landolina district of the village. Now with solar panels up, over 75% of the site will be used for photovoltaics and crop planting, Renantis said.
The solar farm itself will generate around 20 GWh of electricity per year. A local cooperative will manage the agricultural activity.
Renantis invited the locals to participate in the investment in the Scicli project through a crowdfunding campaign launched at the end of 2021. The campaign raised over EUR 180,000 (USD 198,477) from 68 local investors, who will receive an annual return of up to 6% on the original loan for ten years. They also have the possibility to fully recover the capital even in the event of early exit, according to Renantis.
(EUR 1.0 = USD 1.103)
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