Enfinity Global Secures 2 GW Connectivity for Solar and Wind Projects in India

Hyderabad, India - January 28, 2025 - Enfinity Global, a world leader in renewable energy, has made significant strides by securing connectivity for 2 GW of solar and wind projects in several Indian states including Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka. This important development marks a key initiative in the company's efforts to expand its renewable energy portfolio and contribute to India's energy transition.

This 2 GW portfolio is projected to produce enough electricity to power approximately 4.7 million households while preventing an estimated 49 million tons of CO2 emissions each year. The energy generated will be directed towards state-owned utilities, commercial, and industrial clients, highlighting Enfinity Global's commitment to sustainable energy solutions.

Carlos Domenech, CEO of Enfinity Global, stated, "This milestone underscores our dedication to accelerating India's renewable energy transition and supporting the ambitious goal of installing 500 GW of non-fossil capacity by 2030." He further emphasized the company's global presence, which enables the creation of capital and operational synergies, combined with local expertise to establish Enfinity as a strategic partner for the long-term energy needs of clients in India.

With over 1 GW of projects set to enter construction this year, including initiatives in Maharashtra and Karnataka slated to commence in the first quarter of 2025, Enfinity Global's renewable energy portfolio in India now totals approximately 3.3 GW at various stages. This includes 240 MW already operational, 2 GW with connectivity granted, and an additional 1 GW of solar, wind, and energy storage projects currently in development. Recently, the company was awarded a contract for a 300 MW solar-wind hybrid project through a competitive bidding process with SJVN, to be executed in the fourth quarter of 2024.

In the upcoming three years, Enfinity aims to develop and operationalize facilities that will generate over 5 GWh of renewable energy annually, under Power Purchase Agreements (PPAs) with both large and small clients. The company is also taking significant steps to secure the necessary capital to realize its portfolio in India by collaborating with both national and international financial partners.

In May 2024, Enfinity entered into a subordinated financing agreement worth $135 million with the Canada Pension Plan Investment Board (CPP Investments) to support the development and construction of solar and wind projects across the country. This strategic collaboration is aimed at not just advancing renewable energy initiatives, but also at fostering economic growth and job creation in the regions where these projects are implemented.

As India continues to seek energy independence and a reduction in carbon emissions, Enfinity Global is poised to play a pivotal role in shaping the future of renewable energy in the country. The collective impact of these projects on both the environment and society will signify a substantial leap towards achieving a sustainable energy future. Furthermore, the company's innovative approach and strategic partnerships align perfectly with the government's vision for a greener and more sustainable India.

Enfinity Global Logo

In conclusion, Enfinity Global's commitment to securing 2 GW of connectivity not only highlights its strategic initiatives but also reflects an unwavering dedication to spearheading the energy transition movement in India. Stakeholders can look forward to seeing the tangible benefits of these renewable projects in the years to come.