US independent power producer (IPP) Enfinity Global has expanded a bond facility with the Eiffel Investment Group to US$183 million, to further its work in the US solar and battery energy storage system (BESS) sectors.
The new bond facility builds on another bond facility agreed between the companies last year, valued at US$108 million, to support Enfinity’s deployment of solar BESS projects across Europe. Enfinity said that the latest bond facility would support its investments in both Europe and the US; the company has an operational solar PV portfolio of 28 projects, with a combined capacity of 400MW, in the US. Its largest operational project is the 56MW CSolar South project in California.
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However, Enfinity’s US pipeline is much larger, with 450MW of capacity under construction, alongside a total development pipeline of 22GW, in a country acknowledged as “strategically important” by Eiffel’s leadership.
“The US market is both strategically important and highly dynamic,” said Eiffel head of infrastructure Pierre-Antoine Machelon. We are pleased to deepen our presence on this market alongside a trusted and experienced partner like Enfinity Global and to address the surging US power demand with green energy.”
The news follows Enfinity starting commercial operations at a 33.8MW Italian solar project last month, the first project to reach this state in a 336MW solar portfolio, from which technology giant Microsoft will acquire power.
