#solar energy #Italy #Enfinity Global #Lazio

Enfinity Global Secures €165 Million in Financing for Solar Energy Projects

Enfinity Global Inc., a prominent player in the renewable energy sector, has recently completed a significant financing round worth €165 million, designated for the development of three utility-scale solar power plants in Italy's Lazio region. With a combined capacity of 147 megawatts (MW), these projects represent a major step forward for Enfinity as they aim to meet the increasing energy demands while contributing positively to the environment.

The financing was structured as a club deal, spearheaded by leading financial institutions ING and Rabobank, which served both as lenders and mandated lead arrangers. Out of the total amount, €114 million is allocated as non-recourse senior debt, and €51 million will go towards VAT financing and various letter of credit (LC) facilities that support power purchase agreements (PPAs), photovoltaic (PV) modules, and decommissioning processes.

Environmental Impact and Project Timeline

The anticipated environmental impact of this portfolio is substantial; the reduction of carbon emissions is projected to reach 79,500 tons annually. This reduction is tantamount to eliminating more than 62,000 vehicles from Italian roads each year, showcasing the potential of solar energy to mitigate pollution and combat climate change. The projects are slated to commence operations by 2026, further supporting Italy's shift toward sustainable energy solutions.

In 2024 alone, Enfinity Global has managed to secure a total of €865 million in financing, facilitating a broader deployment of its 4.8 gigawatts (GW) portfolio of solar and storage projects throughout Italy. This includes 205 MW already operational, marking Enfinity as the top independent power producer (IPP) in Italy, with 805 MW of approved solar projects under its banner, as highlighted in the