#solar energy #Italy #Enfinity Global #Italy Projects #Latium

Enfinity Global Secures Major Renewable Energy Financing

Enfinity Global Inc., a recognized leader in the renewable energy sector, has successfully finalized a significant financing of €165 million directed towards the development of three solar power plants in the Latium region of Italy. This portfolio, boasting a combined capacity of 147 MW, underscores Enfinity’s commitment to expanding sustainable energy solutions in the region. The projects are projected to become operational by 2026, ensuring long-term energy security through Power Purchase Agreements (PPAs) with an international tech partner.

Financing Structure and Sustainability Impact

The financing was executed through a club-deal structure, with ING and Rabobank acting as leading lenders. This funding package consists of €114 million in non-recourse senior debt, alongside €51 million allocated for VAT financing, Letter of Credit facilities for PPAs, solar modules, and decommissioning processes.

The addition of these solar energy projects is expected to significantly cut carbon emissions by approximately 79,500 tons per year, which equates to taking over 62,000 cars off Italian roads annually. This reduction highlights the role renewable energy plays in combating climate change and reducing environmental impacts.

In 2024 alone, Enfinity has secured a staggering €865 million in financing aimed at bolstering its extensive portfolio of 4.8 GW of solar PV and storage projects throughout Italy, with 205 MW already operational. Enfinity stands out as Italy's top independent power producer (IPP) in terms of approved projects, boasting 805 MW of authorized solar initiatives, according to Elemens’ Q4 DevDeals report. Moreover, it leads the Italian solar PPA market, having signed contracts totaling 535 MW with major corporations and utility companies, including Feralpi, Nova AEG, and energy providers such as A2A and Statkraft.

Partnership Support for Renewable Expansion

Enfinity’s CEO, Carlos Domenech, expressed gratitude towards ING and Rabobank for their unwavering support in advancing the company’s portfolio in Italy. He emphasized a shared vision of accelerating renewable energy deployment to assist businesses and governments in achieving their energy transition targets.

Diederik van den Berg, Managing Director at ING, reiterated the bank's commitment to renewable energy, highlighting their proactive role in supporting projects like Enfinity’s in Italy. The goal is to triple their annual renewable energy financing to €7.5 billion by 2025.

Rabobank’s Project Finance team extended their congratulations to Enfinity for their successful financing milestone, highlighting the strength of their collaboration and commitment to supporting Enfinity's renewable energy growth strategy globally.

Expert Consultation and Advisory Team

The financing transaction was backed by various experienced advisors. Albion served as the documentation and security agent, while Gianni Origoni acted as the legal advisor for the lenders. Other consultants included DWF for the borrower’s legal advice, Astris Finance for financial advisory, Fichtner Italia as the technical consultant, and Marsh for insurance advisory.

About Enfinity Global

Founded in 2019, Enfinity Global is a prominent U.S. renewable energy company with an excellent portfolio of 26.8 GW encompassing operational, under-construction, and development-stage assets, alongside an additional 33 GW in earlier stages within the U.S. As Enfinity moves forward, the company's efforts remain dedicated to enhancing renewable energy capacity, reinforcing its status as a pivotal player in the renewable energy landscape.