Commission approves €1.7 billion support for agri-PV in Italy
Post date: 13/11/2023 - 17:49
The European Commission has authorised, under EU state aid rules, a €1.7 billion Italian scheme to support agri-photovoltaic plants. Following the Commission's positive assessment of the Italian recovery plan and its adoption by the Council, the scheme, which will run until 31 December 2024, will be partly financed by the Recovery and Resilience Facility. Farmers will be able to apply for investment grants totalling €1.1 billion, covering up to 40 percent of eligible investment costs. In addition, an estimated €560 million will be made available for Contracts for Difference, which will enable plant operators to hedge against low energy prices. In the event of high market prices, a clawback mechanism will apply, requiring the repayment of amounts in excess of the incentive tariffs.
The scheme aims to support the construction and operation of new photovoltaic systems with a total capacity of 1.04 gigawatts.