US independent power producer (IPP) Enfinity Global has obtained US$164 million for a 250MW solar PV portfolio in Japan.
The solar PV portfolio, worth over US$1 billion, consists of seven operating utility-scale solar projects and one project under construction. It is expected to produce more than 300GWh of power annually.
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Enfinity Global said the financing was made in partnership with Macquarie Capital, the investment division of Australian financial services group Macquarie Group and a syndicate led by Shinhan Asset Management.
“Japan’s energy transition needs companies investing in assets and supporting emerging energy needs such as those driven by data centers,” said Carlos Domenech, CEO of Enfinity Global.
Earlier this year, Enfinity Global also secured a US$195 million long-term financing for a 70MW solar PV plant in Japan. Located in the northern prefecture of Aomori, the plant uses bifacial solar modules and is part of a 250MW PV portfolio from the IPP in Japan. The project is expected to produce over 75GWh of electricity per year.
Additionally, secured US$135 million in financing for a 1.2GW solar and wind portfolio in India. The projects in the portfolio span through fives states, which are Maharashtra, Delhi, Karnataka, Uttar Pradesh and the solar hotbed state of Rajasthan. According to the IPP, the development of the portfolio is in an advanced stage with an expected commissioning set between 2025 and 2026.
