Enfinity Global Secures €316 Million for Solar Projects in Italy
Enfinity Global Inc., a prominent player in the renewable energy sector, has recently made headlines by announcing the successful closure of a €316 million financing deal aimed at developing solar power facilities in Italy. With a total capacity of 276 megawatts (MW), these solar plants will be strategically located across the regions of Emilia Romagna, Basilicata, and Lazio. The ambitious projects are expected to become fully operational by the end of 2026.
The financing was organized through a club-deal structure, featuring key financial institutions such as ING, Rabobank, and BNP Paribas, who acted as mandated lead arrangers and green loan coordinators. The deal comprises €214 million in non-recourse senior loans and an additional €101 million designated for value-added tax, letters of credit associated with Power Purchase Agreements (PPAs), photovoltaic (PV) modules, and decommissioning obligations.
Once operational, the energy generated from this new portfolio is projected to reach 403 gigawatt-hours (GWh) annually, which is estimated to significantly mitigate CO₂ emissions by approximately 109,000 tons each year. This reduction is comparable to the annual electricity consumption of around 150,000 Italian households.
Carlos Domenech, CEO of Enfinity Global, expressed pride in collaborating with recognized financial partners like Rabobank, BNP Paribas, and ING to further expedite Italy's energy transition. He highlighted that this milestone reinforces their long-term vision and commitment to establish a sustainable energy platform, granting clients access to competitive energy sources for supporting their growth while stimulating investments and job creation in Italy.
Julio Fournier Fisas, General Manager for Europe at Enfinity Global, commented on how this project marks their largest project financing initiative in Italy to date, reinforcing their market leadership and expanding their footprint in regions with high energy demands. He emphasized the importance of aligning energy generation closer to consumption centers to better support the increasing energy needs of businesses and industries based on their geographical locations.
With this latest financing, Enfinity Global's total amount raised in Italy over the last two years rises to an impressive €1.3 billion. The company is pushing forward its pipeline of solar and storage projects totaling 8 gigawatts (GW) in Italy, including 564 MW currently under construction in Lazio and Emilia-Romagna. Enfinity is recognized as a leader within the Italian solar market, having signed on long-term contracts amounting to 805 MW with industrial customers and energy suppliers.
Thomas Beaumont, Head of Energy Origination EMEA at BNP Paribas, celebrated the financial closure of this significant project, marking the beginning of a robust partnership in renewable energy. He noted that this landmark financing supports the establishment of a large-scale solar portfolio in Italy and highlights BNP Paribas's commitment to fostering energy transitions in one of Europe’s most dynamic markets. Beaumont expressed eagerness to continue collaborating with Enfinity on their ambitious growth plans worldwide.
Diederik van den Berg, Managing Director at ING, underscored the importance of this project, pointing out that this arrangement represents their third recurring mandate with Enfinity in Italy. He reiterated ING's dedication to enhancing their global lending commitments to renewable energies by €7.5 billion by 2025 and looked forward to continuing their partnership with Enfinity.
Rabobank's commitment was also conveyed by Marc Schmitz, Head of Project Finance Europe and Asia, who congratulated Enfinity and their co-lenders for accomplishing yet another successful financing of a photovoltaic portfolio in Italy. He praised the smooth, efficient, and professional collaboration with such an experienced player in the renewable energy sphere, which further solidifies Rabobank's role as a leading actor in promoting renewable energy worldwide.
The financing transaction was supported by a team of esteemed advisors, including Bondholders acting as Facility Agent, Gianni Origoni serving as legal counsel for the lenders, Bird & Bird as legal representatives for the borrower, and others such as Astris Finance as financial advisor, Vector Renewables as technical advisor, PricewaterhouseCoopers for auditing, and MAG Consulting Srl as insurance consultant.
This initiative reflects a significant step not only for Enfinity Global but also for the renewable energy landscape in Italy, promising not just growth for the company, but also contributing to a greener future for the region and possibly beyond.
The financing was organized through a club-deal structure, featuring key financial institutions such as ING, Rabobank, and BNP Paribas, who acted as mandated lead arrangers and green loan coordinators. The deal comprises €214 million in non-recourse senior loans and an additional €101 million designated for value-added tax, letters of credit associated with Power Purchase Agreements (PPAs), photovoltaic (PV) modules, and decommissioning obligations.
Once operational, the energy generated from this new portfolio is projected to reach 403 gigawatt-hours (GWh) annually, which is estimated to significantly mitigate CO₂ emissions by approximately 109,000 tons each year. This reduction is comparable to the annual electricity consumption of around 150,000 Italian households.
Carlos Domenech, CEO of Enfinity Global, expressed pride in collaborating with recognized financial partners like Rabobank, BNP Paribas, and ING to further expedite Italy's energy transition. He highlighted that this milestone reinforces their long-term vision and commitment to establish a sustainable energy platform, granting clients access to competitive energy sources for supporting their growth while stimulating investments and job creation in Italy.
Julio Fournier Fisas, General Manager for Europe at Enfinity Global, commented on how this project marks their largest project financing initiative in Italy to date, reinforcing their market leadership and expanding their footprint in regions with high energy demands. He emphasized the importance of aligning energy generation closer to consumption centers to better support the increasing energy needs of businesses and industries based on their geographical locations.
With this latest financing, Enfinity Global's total amount raised in Italy over the last two years rises to an impressive €1.3 billion. The company is pushing forward its pipeline of solar and storage projects totaling 8 gigawatts (GW) in Italy, including 564 MW currently under construction in Lazio and Emilia-Romagna. Enfinity is recognized as a leader within the Italian solar market, having signed on long-term contracts amounting to 805 MW with industrial customers and energy suppliers.
Thomas Beaumont, Head of Energy Origination EMEA at BNP Paribas, celebrated the financial closure of this significant project, marking the beginning of a robust partnership in renewable energy. He noted that this landmark financing supports the establishment of a large-scale solar portfolio in Italy and highlights BNP Paribas's commitment to fostering energy transitions in one of Europe’s most dynamic markets. Beaumont expressed eagerness to continue collaborating with Enfinity on their ambitious growth plans worldwide.
Diederik van den Berg, Managing Director at ING, underscored the importance of this project, pointing out that this arrangement represents their third recurring mandate with Enfinity in Italy. He reiterated ING's dedication to enhancing their global lending commitments to renewable energies by €7.5 billion by 2025 and looked forward to continuing their partnership with Enfinity.
Rabobank's commitment was also conveyed by Marc Schmitz, Head of Project Finance Europe and Asia, who congratulated Enfinity and their co-lenders for accomplishing yet another successful financing of a photovoltaic portfolio in Italy. He praised the smooth, efficient, and professional collaboration with such an experienced player in the renewable energy sphere, which further solidifies Rabobank's role as a leading actor in promoting renewable energy worldwide.
The financing transaction was supported by a team of esteemed advisors, including Bondholders acting as Facility Agent, Gianni Origoni serving as legal counsel for the lenders, Bird & Bird as legal representatives for the borrower, and others such as Astris Finance as financial advisor, Vector Renewables as technical advisor, PricewaterhouseCoopers for auditing, and MAG Consulting Srl as insurance consultant.
This initiative reflects a significant step not only for Enfinity Global but also for the renewable energy landscape in Italy, promising not just growth for the company, but also contributing to a greener future for the region and possibly beyond.
Topics Energy）
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