On January 31st 2023, Eko Agro Group (EAG) entered into a preliminary agreement (MoU) with RWE Renewables Italia - one of the leading energy suppliers in Europe and a major renewable energy provider on the global stage. The agreement is set to develop 35 Agri-Photovoltaic (APV) sites, concerning ca. 850 ha. of agricultural land across several regions in Italy; the result of which is foreseen to generate up to 700MW/h of clean energy.
In parallel, on February 16th 2023, EAG entered into a partnership agreement with RheAura OP, a major nationwide organization of Italian agricultural producers. This partnership will create an operational structure based on the EAG model aimed at the development of APV sites on suitable areas belonging to RheAura’s associates. APV solutions require an innate knowledge of agricultural operations and thus RheAura’s network and farming expertise is a key opportunity.
These preliminary agreements mark two major steps for the group in their goal to strengthen the sustainability of farming and leverage the growing symbiosis of green energy and sustainable agriculture.
ESGTI AG holds majority ownership of EAG and it remains the key player in their AgTech & Sustainable Agriculture investment pillar. As it carves the way for sustainable agriculture practices on a large scale this agreement is a major step for the Group and a positive sign towards investors who seek certified and financed business models in this space.