The Munich-based developer behind Germany’s largest agri-PV plant plans to build 100 MW over the next 18 months. The new line of credit is a pipeline program that converts the 250 MW pipeline into deliverable projects.
An agri-PV engineer based in Munich Feldwerke obtained a revolving credit facility of 12 euros to underwrite the construction of a portfolio of 100 MW of agro-photovoltaic projects in the next 18 months.
The facility is debt rather than equity, making it the capital the company uses to convert its approved or approved project pipeline into deliverable, grid-connected energy quickly.
The company is a specialist in the category. Agri-PV is the German abbreviation for agrivoltaics, a dual-use method that places high-altitude solar panels above crops or pasture land so that the same hectare produces both electricity and agricultural output.
TNW City Coworking Space – Where your best work happens
A workplace designed for growth, collaboration, and endless networking opportunities at the heart of technology.
The technology has been moving from the stage of policy-backed demonstrators to being deployed on a commercial scale across Europe in the last three years, with Germany being the most developed national market after the country’s EEG tax framework (Erneuerbare-Energien-Gesetz) and the bilateral support of the Ministry of Economic Affairs and Climate Action.
Feldwerke’s track record is where the new funding comes into play. Company Germany’s largest agri-PV park broke ground in Oberndorf am Lech, Bavaria, in August 2025, and the 17 MWp facility became operational at the end of March 2026..
A 32 MW project in Baden-Württemberg is under development and seven other projects are currently under approval. In Feldwerke’s published figures, the total pipeline is estimated at 250 MW. The new line of credit of E12m is equivalent to the first 100 MW of that pipeline, with a suggested financing unit of about €0.12 per watt of capacity (excluding the equity price and tax subsidy stake the rest of each project depends on).
The choice of a revolving credit facility structure instead of a term loan for a financial project is a technical detail. The revolver allows Feldwerke to draw cash as construction milestones reach multiple projects, pay as permanent financing for each project closes, and redraw against the same line for the next project in the pipeline.
The structure is common for renewable portfolio developers, but unusual for one less than three years old, and the willingness of the lender (the company did not disclose the bank involved) to extend the facility at all is a sound sign of underwriting.
The wider German agri-PV market is the sector on which the entire trade depends. Germany’s solar-incentives stack for 2026 it includes the KfW 270 loan program, EEG Marktprämie auctions, dedicated agri-PV grants, and the Bavarian Free-Field Photovoltaic Ordinance, which classifies certain agri-PV installations as a ‘right’ for approval purposes.
The combination of low-cost public debt, predictable revenues, and accelerated permits have greatly improved the unit economics of agri-PV development compared to straight ground-mount solar, and Feldwerke’s portfolio is precisely aligned with that policy stack.
The European core followed by TNW is the second leg. I BayWa agri-PV scheme supported by the EU which included six projects in five European countries was the first pilot program supported by European policy; Feldwerke works on the commercial scale output side of the same thesis.
A comprehensive cycle of German renaissance policy push that Chancellor Merz used as the basis of his economic recovery framework produced timelines that allow for a significantly faster first half of 2026 (on EEG-auction throughput data), a process change that Feldwerke is now set to benefit from on a pipeline scale.
Feldwerke was founded in October 2023 and operates in Munich. The company did not publicly disclose its equity financing stack, post-money valuation, or indicative interest rate on the new line of credit. Whether the company will use the corresponding equity cycle after the credit institution is a question that will be answered by the next several sections.
Germany’s comprehensive energy startup division has been raising with increasingly defensive ratings over the past 18 months, and Feldwerke’s combination of grid-connected operating capacity and proven pipeline visibility puts the company in a category that investors have been consistently willing to return to scale.
In the details of the operation: the lending bank has not been named, the schedule for reducing the construction rate has not been disclosed, and the company has not specified which of the 100 MW pipelines of the 250 MW pipeline will be built first.
Visible structural commitment: 100 MW of new agri-PV capacity in 18 months for a German developer with one operational asset and seven approved. The next 18 months will decide whether the pipeline arrives on time or whether the credit institution accepts the slippage.
