Munich’s Feldwerke secures €12 million revolving credit facility to build 100 MW agri-PV portfolio in 18 months

Feldwerke, a Munich-based AgTech startup developing and installing agri-PV (Agrivoltaics) systems, has closed its first major debt financing round. 

A French debt fund specialising in renewable energy has provided €12 million through a revolving credit facility to realise Feldwerke’s construction portfolio of approximately 100 megawatts (MW) within the next 18 months.

“This financing marks a significant milestone for Feldwerke – and a clear signal that institutional investors have recognised the potential of agri-PV as a forward-looking form of land use. The revolving credit facility gives us the flexibility to execute our 100 MW portfolio swiftly and capital-efficiently. We are very pleased to have found a partner who shares our long-term vision and accompanies us on this journey with the right financing structure,” said Nils Kuchenbuch, CEO of Feldwerke. 

Founded in Munich in 2023 by Nicolai Reiners, Nils Kuchenbuch, and Marco Mielenz, Feldwerke is a developer and installer of open-field agri-PV systems. The company has installed more than 20 MW of capacity in two and a half years, including the largest agri-PV installation in southern Germany in Oberndorf am Lech.

The company states that it combines sustainable energy generation with the preservation of agricultural land and actively involves local investors and municipalities in its projects.

Feldwerke specialises in combining solar power generation with active farming. “In agri-PV installations, solar modules are mounted on tracking structures (“trackers”) over agricultural land. The land beneath and between the module rows remains available for growing grain or as grazing land. The company consistently uses single-axis tracker systems that follow the sun’s path, generating not only more energy overall but also feeding disproportionately more power into the grid during the high-value morning and evening hours,” the company explained. 

The concept is gaining increasing interest from institutional investors, banks, and development finance institutions, as they see the dual benefits of energy generation and land use as a strategic advantage over traditional open-field PV.

The financing was provided by a French debt fund specialising in renewable energy. The fund focuses primarily on the construction and development phase of solar energy projects across Europe and has extensive experience structuring construction finance solutions for growing project developers.

Feldwerke notes that revolving credit facilities are particularly powerful instruments in infrastructure finance: once a completed project is handed over to long-term project financing or connected to the grid, the line becomes available again for the next undertaking.

This revolving credit facility allows the company to finance and execute multiple construction projects simultaneously, with completed installations being connected to the grid and the credit line replenished accordingly.

The company states that this flexible credit facility helps scale agri-PV project delivery, bringing it closer to its goal of 1 GW of installed capacity by 2030.

Feldwerke is currently developing around 50 projects totalling over 400 MW. The credit facility’s capital will be used solely for constructing agri-PV installations. Feldwerke has about 100 MW of projects in various stages, ranging from final planning to active construction, that will be realised over the next 18 months.

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