Falck Renewables announces its first crowdfunding campaign in Sicily
Construction work will soon begin on the Landolina agrivoltaic park in Scicli (Sicily), owned by Falck Renewables. A crowdfunding campaign for Sicilians has been launched with annual returns of up to 6%, to involve local people in the energy transition and the convergence towards widespread, compatible sustainability linked to agriculture.
Milan, Italy, 13 October 2021 – Ecology, environment and jobs are at the heart of Falck Renewables’ Landolina agrivoltaic project in Scicli in the province of Ragusa in Sicily, Italy. Construction is set to begin in November 2021 on the project which will cover a 22-hectare site. 17 hectares will be used for photovoltaics and crops with 5 hectares dedicated solely to planting.
Once operational it is estimated that the 9.7 MW agrivoltaic plant will produce around 20 GWh of renewable energy, equivalent to the needs of more than five thousand households. The plant will combine agricultural production and renewable energy, making maximum use of the land. Native crops such as olive, carob and almond trees, medicinal herbs and polyphytic grass which have been chosen with the help of the Department of Agriculture, Food and Environment of the University of Catania will be grown on the site.
The project will be built on land that has been left uncultivated for the last twenty years and occasionally used for grazing and will generate new employment while respecting the environmental characteristics of the area and the uniqueness of Scicli, a Unesco heritage town.
The Landolina project marks the launch of Falck Renewables first crowdfunding initiative as part of its "Coltiviamo energia" (Let’s grow energy!) programme which allows local people to benefit from a profitable, sustainable and secure investment. Based on the Falck Renewables Group's experience, which has been operating similar community ownership schemes at its UK wind farms for over fifteen years, the Scicli initiative will be developed through a remunerated loan, guaranteed by Falck Renewables. Through the platform www.coltiviamoenergia.it individuals can invest in the plant with amounts ranging from 200 to 10 thousand euros and receive an annual return on the original loan for ten years, with the possibility of full recovery of the capital paid in even in the event of early exit.
People who live in Scicli are being offered a gross annual return of 6% for subscriptions if they invest in the first ten days of the campaign, with a rate of 5% for anyone signing up later. For people who live in other parts of the region, the rate is set at 5% for the first ten days of the campaign, moving to 4% thereafter. At a later stage, the financing opportunity will also be open to employees of Falck Renewables in Italy who will receive a gross annual return of 3%.
Similarly to schemes already in operating in other countries where it has developments Falck Renewables has also set up a community benefit scheme, with the establishment of an annual fund to support local initiatives in the Municipality of Scicli and a scholarship programme to support professionals studying renewable technologies and energy sustainability and development.
Carmelo Scalone, Global Head of Business Development and M&A at Falck Renewables, commented: "We are delighted to launch our first crowdfunding campaign in Sicily, which will benefit the region and the people who live there. For years we have been committed to generating opportunities for the communities living near our renewable energy plants by creating shared value. The initiative we are launching today is part of our sustainable development model, which is at the heart of Falck Renewables' way of doing business and we intend to extend this approach to other plants and other areas in the future.”
Falck Renewables S.p.A., listed on the Italian stock exchange in the STAR segment (“FKR.MI”) and included in the FTSE Italia Mid Cap Index, develops, designs, builds and manages power production plants from renewable sources, with an installed capacity of 1,320 MW (1,283 MW according to the IFRS 11 reclassification) in the United Kingdom, Italy, United States, Spain, France, Norway and Sweden, using wind power, solar power, WtE and biomass technologies. The Group is a global player in the renewable energy technical advisory and asset management services business, through its wholly owned subsidiary Vector Renewables, providing asset management services to clients accounting for approximately 3,800 MW of installed capacity and with experience in more than 40 countries. Falck Renewables also provides highly specialized energy management and downstream services to both energy producers and consumers.
Visit www.falckrenewables.com and connect with us on LinkedIn and Twitter (@falckrenewables).
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