Renantis launches third agrivoltaic project in Italy with a lending crowdfunding campaign
Milan, 4 July 2023 – Renantis announces the launch of its third lending crowdfunding campaign to support the construction of the La Manganizza agrivoltaic plant. Located in Manzano, in the province of Udine (Friuli Venezia Giulia region) the campaign offers an energy investment opportunity for those in the local community.
The project, with work commencing in autumn 2023, will be developed on a 15-hectare site and will have an installed capacity of 8.16 MW, with total investment estimated at about EUR 8 million. Once in operation, the plant is expected to produce around 12 GWh of energy per year, equivalent to the consumption of more than 4,000 households. The technology used for energy production consists of over 14,000 double-sided solar PV modules on single-axis trackers and this technology will allow for higher output and reduced visual impact compared to traditional modules.
The project will combine energy production with agriculture to give the land dual purpose. The area will host multiple beehives to produce honey and related products, a probiotic meadow and numerous region-native plants, including hedges and melliferous trees. Using the land in this way will encourage the presence of bees and ensure that the land remains visibly in keeping with the landscape. The apiary will be managed by a local company that will exclusively enjoy the fruits of the agricultural activities.
More than 85% of the plot will remain cultivable, i.e. the part occupied by the hedges and the lawn under and between the panels. This area will form an ecological oasis, providing the right environment for bees to play their important role in maintaining the natural ecosystem. The restoration of natural habitats such as rows, hedges and meadows makes it possible to mitigate further decline of the bee population, which is one of the goals of the revision of the EU Pollinators Initiative presented by the EU Commission at the beginning of 2023.
Renantis will give private individuals the opportunity to invest in the La Manganizza plant through a new lending crowdfunding campaign, active from today, Tuesday 4 July. Lending crowdfunding provides a remunerated loan guaranteed by Renantis. Individuals can participate with amounts between EUR 200 and EUR 10,000, and with an interest rate of 6.5% per year, for 3 years, for residents of Manzano and neighbouring municipalities, while residents in the Friuli Venezia Giulia region will have a 5.5% remuneration rate.
The campaign follows the success of the lending crowdfuding initiative for the Terzo di Aquileia plant, in the province of Udine (Friuli Venezia Giulia region), which closed in May. The campaign attracted 58 investors and more than EUR 150,000 was collected, exceeding the target set by Renantis by 50%. This project, with a total planned investment of around EUR 30 million, has created an investment opportunity for locals living close to the future plant.
Overall, Renantis has already successfully closed two lending crowdfunding campaigns for agrivoltaic projects in Italy, Terzo di Aquileia and Scicli, in the province of Ragusa (Sicily region).
“Renantis recognises the importance of cultivating constructive and lasting ties with local communities,” comments Giangiacomo Altobelli, Renantis’ community manager in Italy. “We are grateful for the positive reception in our Terzo di Aquileia and Scicli lending crowdfunding campaigns and we hope the same success will accompany the Manzano one. Involving the local people in the realisation of sustainable energy projects allows them to directly contribute to the energy transition, and this is both a priority and an exciting collaboration for us. We’ll look forward to working with the residents in this area on other initiatives with a social, educational and environmental impact to benefit the area.”