Farmers across Europe are under real pressure. Volatile crop prices, extreme weather events, and rising input costs are squeezing margins on all sides. Feldwerke, a Munich-based agri-PV developer founded in 2023, is building a model where agricultural land generates stable solar income alongside active farming, and investors are paying attention.
The company recently closed a €12 million revolving credit facility from a debt fund specializing in renewable energy. The capital is earmarked entirely for construction, funding Feldwerke’s current portfolio of approximately 100 MW of agri-PV projects to be built over the next 18 months.
How the Model Works:
Feldwerke installs solar modules on single-axis tracker systems mounted above agricultural land. The land below and between the module rows stays in active use, whether for grain crops, legumes, or grazing. Farmers retain at least 85% of the usable field area, which means EU agricultural subsidies (GAP payments) and the land’s agricultural status are preserved. Tax privileges tied to agricultural land, including inheritance tax benefits, also remain intact under current German law.
The tracker systems are designed to follow the sun throughout the day. That means power generation is spread across morning and evening hours, not just the midday peak that most south-facing fixed-panel arrays produce. This matters for grid pricing: electricity sold during morning and evening demand peaks commands higher rates in direct market contracts.
The Financing Structure:
The €12 million is structured as a revolving credit facility, not a one-time draw. As completed agri-PV installations get connected to the grid and handed over to long-term project financing, the credit line replenishes and becomes available for the next construction project. This lets Feldwerke execute multiple projects in parallel and deploy construction volumes beyond the nominal facility size.
The structure is typical for infrastructure-heavy businesses with predictable asset handovers. For a company at Feldwerke’s stage, it signals that institutional lenders are comfortable with the underlying asset quality and revenue structure of agri-PV projects.
Numbers Behind the Pipeline:
Feldwerke installed 20 MW of agri-PV capacity in its first two and a half years. The company currently has around 50 projects in development totaling over 400 MW across Germany. Its stated goal is 1 GW of installed capacity by 2030.
Its flagship installation in Oberndorf am Lech covers 30 hectares, supplies power to roughly 5,000 households, and was completed from project start to construction in about one year. That’s notably faster than conventional ground-mounted solar projects, which can take two to three years to clear approvals in Germany. Agri-PV installations under the privileged planning category, which bypasses the full municipal zoning process, shorten timelines substantially.
Individual farmer returns can reach up to €3,000 per hectare annually from lease payments or revenue participation arrangements, depending on site characteristics and grid connection quality.
Why Farmers and Municipalities Say Yes:
Across Feldwerke’s reference projects, one pattern shows up consistently: communities that have rejected conventional ground-mounted solar are approving agri-PV. In Bruchsal, the city council voted unanimously for agri-PV while explicitly excluding standard open-field solar. In Schalkham, the municipality is now considering formally prioritizing agri-PV over conventional PV in its planning rules.
The reason is practical. Agri-PV doesn’t require fencing under Feldwerke’s tracker concept, which reduces visual impact and maintains field connectivity. Farmland stays in production, which keeps local agricultural character intact. Municipal councils can show constituents that renewable expansion isn’t displacing farming.
For land-owning farmers who want to diversify income without giving up their fields, the model also fits generational planning. Several Feldwerke projects involve families specifically choosing agri-PV because it keeps land classified as agricultural property, which matters significantly for inheritance tax calculations across generations.
Portfolio Scope and Scale:
The 100 MW construction target covers projects at various readiness stages, from final planning to active build. The largest single project in the current pipeline is a 48 MW installation on 70 hectares in Barby, Saxony-Anhalt, approved unanimously by the local council. Projects range from smaller 1 MW privileged installations on 2.5-hectare plots near farm buildings to large-scale multi-municipality developments exceeding 20 MW.
The Aislingen project in Bavaria is linking a 24 MW installation directly to a freed-up grid connection point from the former Gundremmingen nuclear plant, reusing existing infrastructure rather than requiring new grid builds.
What Comes Next for Feldwerke:
With construction capital secured, Feldwerke’s near-term focus is executing that 100 MW pipeline within 18 months while continuing to develop the broader 400 MW project portfolio. The company offers an end-to-end service for landowners covering site assessment, permitting, grid connection, construction, and long-term operation.
For founders and operators tracking the European energy transition, Feldwerke represents a reasonably clear infrastructure thesis: combine favorable German regulatory treatment of agri-PV with a revolving debt structure, build at scale, and sell or refinance stabilized assets into long-term project finance. The 1 GW target by 2030 depends on sustained project velocity, which the €12 million facility is directly designed to support.
