Next2Sun seeks funding for agri-PV projects in Austria

A unit of German agrivoltaics developer Next2Sun AG is seeking to secure financing in a crowd-investing campaign to support the expansion of agrivoltaic installations across Austria.

Next2Sun Austria GmbH aims at raising EUR 1 million (USD 1.06m) on the Rockets Investments platform and EUR 736,000 has already been secured. The fresh capital will be used to deploy 8 MWp of agri-PV capacity. The company has a project pipeline of 35 MW, of which 4.5 MW is fixed at EUR 2.25 million.

Initially, the business targeted EUR 500,000 but the goal was increased after the funding target was reached within ten hours after the launch of the campaign.

The campaign is open to investments starting from EUR 250 and offers an interest rate of 7.5%.

Dillingen/Saar, Saarland-based Next2Sun installs agrivoltaic systems and solar fences featuring vertically stacked bifacial glass-glass modules. The solar fence, offered by the company, is also equipped with bifacial glass-glass modules and serves as an enclosure in ecological livestock farms. Founded in 2015, the company has already deployed 10 MW of agri-PV capacity in Germany. In Austria, the unit has installed 270 solar fences and small agri-PV systems.

The company noted that the environment for agri-PV projects in Austria has improved as under the Renewable Energy Expansion Act (EAG) such projects are preferred to conventional ground-mounted solar parks due to the dual use of land.

(EUR 1.0 = USD 1.062)

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