Enfinity Global Secures 2 GW Connectivity for Solar and Wind Projects in India
Enfinity Global, a leading player in the renewable energy sector, has announced that it has secured connectivity for 2 gigawatts (GW) of solar and wind power projects in several Indian states including Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka. This strategic initiative represents a vital advancement in Enfinity's efforts to enhance its renewable energy portfolio and contribute to India’s ongoing energy transition.
The combined capacity of the 2 GW portfolio is projected to generate enough electricity to power approximately 4.7 million households while also helping to prevent the emission of around 49 million tons of CO2 annually. The electricity produced from these projects will be supplied to utility companies as well as commercial and industrial clients.
Carlos Domenech, CEO of Enfinity Global, emphasized the importance of this milestone, stating, "This step underscores our commitment to accelerate the transition towards renewable energy in India, aiming to support the ambitious target of deploying 500 GW of non-fossil fuel capacity by 2030." He added that Enfinity’s global presence enables it to create synergies in capital and operations, positioning it as a strategic and reliable partner to meet long-term energy needs in the Indian market.
With over 1 GW of projects scheduled to commence construction this year, including significant projects in Maharashtra and Karnataka starting in Q1 2025, Enfinity Global's renewable energy portfolio in India is now approximately 3.3 GW at various stages of development. This includes 240 MW that are already operational, 2 GW that have been granted connectivity, and an additional 1 GW of solar, wind, and energy storage projects currently being developed. The company has also recently secured a hybrid solar-wind project of 300 MW under the bidding process of SJVN, expected to be operational by Q4 2024.
Over the next three years, Enfinity plans to develop and commission renewable power plants capable of providing more than 5 gigawatt-hours (GWh) of renewable electricity per year, including through power purchase agreements (PPAs) with commercial and industrial customers.
The company is also taking significant steps to mobilize the capital necessary for executing its portfolio in India through collaborations with both national and international financial partners. In May 2024, it successfully entered into a senior financing agreement of $135 million with the Canada Pension Plan Investment Board (CPP Investments) to support the development and construction of solar and wind projects across the nation.
This ambitious approach not only underscores Enfinity’s dedication to renewable energy but also positions the company as a key player in supporting India’s clean energy goals and facilitating a sustainable future. With its robust strategies and partnerships, Enfinity Global is poised to make a lasting impact on the renewable energy landscape in India and beyond.
The combined capacity of the 2 GW portfolio is projected to generate enough electricity to power approximately 4.7 million households while also helping to prevent the emission of around 49 million tons of CO2 annually. The electricity produced from these projects will be supplied to utility companies as well as commercial and industrial clients.
Carlos Domenech, CEO of Enfinity Global, emphasized the importance of this milestone, stating, "This step underscores our commitment to accelerate the transition towards renewable energy in India, aiming to support the ambitious target of deploying 500 GW of non-fossil fuel capacity by 2030." He added that Enfinity’s global presence enables it to create synergies in capital and operations, positioning it as a strategic and reliable partner to meet long-term energy needs in the Indian market.
With over 1 GW of projects scheduled to commence construction this year, including significant projects in Maharashtra and Karnataka starting in Q1 2025, Enfinity Global's renewable energy portfolio in India is now approximately 3.3 GW at various stages of development. This includes 240 MW that are already operational, 2 GW that have been granted connectivity, and an additional 1 GW of solar, wind, and energy storage projects currently being developed. The company has also recently secured a hybrid solar-wind project of 300 MW under the bidding process of SJVN, expected to be operational by Q4 2024.
Over the next three years, Enfinity plans to develop and commission renewable power plants capable of providing more than 5 gigawatt-hours (GWh) of renewable electricity per year, including through power purchase agreements (PPAs) with commercial and industrial customers.
The company is also taking significant steps to mobilize the capital necessary for executing its portfolio in India through collaborations with both national and international financial partners. In May 2024, it successfully entered into a senior financing agreement of $135 million with the Canada Pension Plan Investment Board (CPP Investments) to support the development and construction of solar and wind projects across the nation.
This ambitious approach not only underscores Enfinity’s dedication to renewable energy but also positions the company as a key player in supporting India’s clean energy goals and facilitating a sustainable future. With its robust strategies and partnerships, Enfinity Global is poised to make a lasting impact on the renewable energy landscape in India and beyond.
Topics Energy）
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