Commerz Real enters the agri-photovoltaics market with klimaVest: solar power from the field
08.12.2022 • 5 Reading Time
- klimaVest impact fund acquires solar park project development with agricultural use near Berlin
- Green electricity for a computed 19,000 households per year
- Project opens new market segment for retail investors
- Commissioning planned for 2025 – further parks planned
As the first large asset manager in Germany, Commerz Real acquired a project in the field of agri-photovoltaics, or agri-PV for short, for its klimaVest impact fund. Located near Berlin, the park is expected to start operation in 2025 and reach a nominal output of around 50 megawatts. The seller and cooperation partner is Elysium Solar, a joint venture between the consultancy firms EIC Partners from Zurich and LBD-Beratungsgesellschaft from Berlin, which specialise in the energy market. Elysium Solar develops and supports agricultural PV projects together with research and development partners. With the acquisition, Commerz Real is making a large-scale agricultural PV project in Germany accessible to retail investors for the first time. More are expected to follow.
Advocates of the technology argue that this could open up new areas for renewable energy generation, especially in densely populated countries such as Germany. The concept is flexible and can be adapted to the specific use and environmental conditions on site as required. In addition, the solar modules can help to shield the harvest from weather influences such as hail or excessive solar irradiation or to improve the microclimate on the cultivated areas.
In the project by Commerz Real and Elysium Solar, the modules are set up in rows and automatically aligned with the course of the sun. Agricultural machinery can be used in the corridors in between. Suitable uses include the cultivation of asparagus or berries by a regional farm.