Enfinity Global secures US$428 million to fund 17GW portfolio

The investment will help complete its 17GW portfolio. Image: Getty

US renewable energy company Enfinity Global has signed a €400 million (US$428.3 million) agreement with asset manager ICG to spur near-term growth.

This investment will bolster Enfinity Global’s balance sheet to accelerate the completion of its 17GW renewable energy production and storage projects. According to ICG, its infrastructure team ICG Infra will also work with Enfinity Global’s management team to build and operate the existing projects in the long-term, whilst “continuing to support organic and inorganic expansion”.

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“We are very pleased to partner with ICG in order to accelerate the execution of our projects and address our customers’ 24/7 renewable energy needs. ICG’s strong track record in enabling companies to scale, and their vision for the future of the industry, makes them the perfect partner for Enfinity Global,” said Carlos Domenech, CEO of Enfinity Global.

Enfinity Global has been expanding in recent months, including a power purchase agreement (PPA) with Statkraft for 34GWh of solar energy produced at one of its Italian PV facilities in April. It also secured €142 million for solar PV projects with a capacity of 112MW in Italy.

Our publisher Solar Media is hosting the 10th Solar and Storage Finance USA conference, 7-8 November 2023 at the New Yorker Hotel, New York. Topics ranging from the Inflation Reduction Act to optimising asset revenues, the financing landscape in 2023 and much more will be discussed. See the official site for more details.   
22 October 2024
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