Feldwerke secures a €12M revolving credit line to support a 100 MW agri-PV rollout.

      The Munich-based developer responsible for Germany's largest agricultural photovoltaic (agri-PV) facility is set to construct 100 MW over the next 18 months. The newly established debt line serves as the working capital necessary to transform a 250 MW project pipeline into actionable initiatives.

      Feldwerke, the Munich-based agri-PV developer, has obtained a €12 million revolving credit facility to finance the creation of a 100 MW portfolio of agricultural-photovoltaic projects over the coming year and a half. This facility relies on debt rather than equity, allowing the company to convert its approved or pending projects into viable, grid-connected capacities efficiently.

      Specializing in agri-PV, a term used in Germany for agrivoltaics, the company implements a dual-use strategy that places elevated solar arrays over crops or grazing areas, enabling a single hectare to yield both electricity and agricultural products. Over the past three years, the technology has transitioned from policy-backed demonstration projects to commercial-scale implementations across Europe, with Germany being the most advanced market. This development is supported by the country’s EEG (Erneuerbare-Energien-Gesetz) tariff framework and the backing of the federal Ministry for Economic Affairs and Climate Action.

      Feldwerke is leveraging its proven track record with this new financing. The company commenced construction on Germany’s largest agri-PV park in Oberndorf am Lech, Bavaria, in August 2025, and the 17 MWp facility became operational at the end of March 2026. Additionally, a 32 MW project in Baden-Württemberg is in the development pipeline, alongside seven other projects currently awaiting approval. According to Feldwerke's published data, the total pipeline stands at approximately 250 MW. The new €12 million credit line is aligned with the initial 100 MW of this pipeline, implying financing of about €0.12 per watt of capacity (not including equity and tariff subsidies that each project leverages).

      The decision to use a revolving credit facility instead of project-finance term debt is a significant detail. This structure allows Feldwerke to access funds as construction milestones are met across multiple projects, repay as each project secures permanent financing, and draw against the same line for subsequent projects in the pipeline. While this structure is standard among renewables developers operating on a portfolio basis, it is less common for a startup under three years old, making the willingness of a lender (the specific bank has not been disclosed) to extend the facility a notable underwriting indicator.

      The broader German agri-PV market is another factor supporting this venture. Germany's solar-incentive programs for 2026 include the KfW 270 loan program, EEG Marktprämie auctions, specific agri-PV grants, and the Bavarian Free-Field Photovoltaic Ordinance, which designates certain agri-PV setups as ‘privileged’ for permitting.

      The interplay of low-cost public debt, predictable tariff income, and faster permitting processes has significantly enhanced the financial viability of agri-PV development compared to traditional ground-mounted solar. Feldwerke's portfolio is strategically aligned with this policy framework.

      On a European scale, the TNW-tracked context provides further support; the EU-backed BayWa agri-PV project, which includes six projects across five countries, was the first major pan-European policy-supported pilot initiative, while Feldwerke is focused on the commercial rollout of the same concept.

      The current push in German renewable policy, championed by Chancellor Merz as a key element of his economic revival strategy, has resulted in noticeably quicker permitting times through the first half of 2026, based on EEG auction throughput data. Feldwerke stands to gain from these procedural advancements at the scale of its pipeline.

      Founded in October 2023 and operating from Munich, Feldwerke has not publicly revealed its equity funding details, post-money valuation, or the interest rate for the new credit line. It remains to be seen whether the company will pursue an equity round in conjunction with this debt facility—this will become clear in the upcoming quarters.

      In the wider German energy startup sector, valuations have been more robust in the past 18 months, and Feldwerke's combination of operating grid-connected capacity and a well-defined approved pipeline positions it within a category that investors are increasingly willing to support at scale.

      Regarding operational specifics: the lender has not been named, the drawdown schedule tied to construction milestones is undisclosed, and it is unclear which of the 100 MW from the approximately 250 MW pipeline will be built first. However, the commitment is clear: the goal is to achieve 100 MW of new agri-PV capacity within 18 months. The next phase will reveal whether the pipeline proceeds as planned or if the credit facility will have to accommodate delays.