Enfinity Global, a prominent name in the renewable energy sector, has closed a financing round amounting to €118 million. This funding is earmarked for the construction of four utility-scale solar power plants, collectively generating 101 megawatts (MW) of energy. These plants are strategically located in the region of Lazio, Italy, and are slated to commence operations by 2024.
The financing structure, orchestrated through a club deal framework, involved the participation of notable financial institutions including UniCredit, BayernLB, and Siemens Financial Services (through Siemens Bank), all serving as mandated lead arrangers for each of the project’s financing needs.
Breaking down the financing components, the package includes €77 million of non-recourse senior debt, €41 million for value-added tax (VAT) financing, and facilities for Letters of Credit (LC) catering to Power Purchase Agreements (PPAs) and photovoltaic (PV) modules.
The impact of these solar power plants on the environment is substantial. They are projected to produce 172 GWh of clean electricity annually, which can power approximately 64,000 Italian households. Furthermore, this clean energy generation will offset a significant 69,000 tons of CO2 emissions, equivalent to the absorption capacity of 3,100 mature trees.
Enfinity Global’s CEO, Carlos Domenech, expressed enthusiasm about the collaboration with financial partners and emphasized their commitment to bolstering Italy’s energy landscape while adhering to carbon emission reduction targets. He highlighted the company’s dedication to delivering competitive clean energy solutions in alignment with Italy’s energy needs.
Enfinity Global’s ambitious plans extend beyond this recent financing achievement. The company is concurrently working on four additional solar projects in Italy’s Viterbo province, totaling 134 MW, for which it has already secured €165 million in financing. The company envisions investing a substantial 3 billion euros in Italy over the next three years, aiming to expand its existing portfolio through various development strategies, including in-house initiatives, partnerships, and acquisitions.
Leaders from UniCredit, BayernLB, and Siemens Bank commended Enfinity Global’s commitment to advancing Italy’s clean energy goals. They emphasized the significance of well-structured financing solutions in facilitating large-scale renewable energy projects and underlined their institutions’ dedication to supporting the transition towards a sustainable and low-carbon economy.
Enfinity Global Inc., headquartered in the United States, operates globally and stands as a key player in the renewable energy domain, consistently contributing to a cleaner and more sustainable energy landscape.