#USA #Miami #Energy Storage #Enfinity Global #Daiwa Energy

Enfinity Global Partners with Daiwa Energy Infrastructure

Enfinity Global Inc., a prominent name in renewable energy solutions, has recently finalized a substantial transaction by selling nearly 49% of its minority interest in two major battery energy storage system (BESS) projects. This deal is a noteworthy collaboration with Daiwa Energy Infrastructure Ltd. (DEI), a branch of the distinguished Daiwa Securities Group Inc., one of Japan's top financial institutions.

In total, these energy storage projects, amounting to 380 megawatts (MW), are strategically located in both the United States and Italy. Enfinity retains a significant controlling share of approximately 51%, which allows them to maintain oversight during development and construction phases, while also acting as the long-term asset manager for these projects.

Project Details

The first project, set in the USA's Houston zone in the ERCOT (Electric Reliability Council of Texas), will feature a powerful 250 MW BESS, designed for a two-hour duration, with a total capacity of 500 megawatt-hours (MWh). In tandem, the second initiative, located in Italy's Veneto region, will involve a slightly smaller 130 MW BESS capable of supporting operations over four hours, with a total capacity of 520 MWh. Both projects are slated to commence operations by the year 2027.

This international partnership aims to bolster grid resilience and meet the heightened energy demands associated with increasing reliance on data centers, industrial electrification, and advanced technologies such as artificial intelligence. As highlighted by Carlos Domenech, CEO of Enfinity Global, the partnership marks an opportunity to bring meaningful investments into the USA and Italy, while simultaneously enhancing the reliability of clean energy capabilities.

Strategic Advantages

Domenech expressed, "We are honored to partner with Daiwa Energy Infrastructure, one of Japan's leading financial institutions, to bring new investments to the USA and Italy. This collaboration exemplifies a mutually beneficial outcome, demonstrating a case study in enhancing grid capabilities and accelerating the power of reliable, competitive clean energy for our clients."

On the other side of the partnership, Jun Hayakawa, Deputy President of DEI, emphasizes the favorable conditions for energy storage globally, particularly due to the rising generation capacity of renewable energy sources. He notes that this partnership represents a pivotal move for DEI to broaden its renewable and storage portfolio on a worldwide scale, with Enfinity being an exceptional partner positioned for profit in the swiftly evolving renewables market.

Conclusion

Ricardo Diaz, Global Head of Capital at Enfinity, highlighted that integrating like-minded, long-term investors into their global projects is essential for accelerating growth and enhancing returns. Enfinity Global, known for its rapid expansion, boasts a diversified portfolio amounting to 35.5 GW, which includes an impressive mix of solar, wind, and battery storage projects. Currently, the company is operational with 1.1 GW and has an additional 1.2 GW under construction.

Legal support for this transaction came from firms Winston Strawn and DLA Piper for Enfinity, while DEI sought advisory from Orrick Herrington Sutcliffe, Ensight Energy Consulting, and Ernst & Young. This significant transaction not only marks a milestone for both companies but underscores the global shift towards sustainable energy solutions, laying the groundwork for improving energy infrastructure worldwide.