Enfinity Global Ignites a Bright Future with €118m Investment in Italian Solar Power. Enfinity Global, a trailblazer in renewable energy, has recently achieved a significant milestone by securing a whopping €118 million in financing. This substantial investment is earmarked for an ambitious venture – the construction of four utility-scale solar power plants in Italy. These plants, with their impressive combined capacity of 101MW, are set to make a notable impact in the region of Lazio. As we look forward to 2024, the year these projects are expected to come online, there’s an air of excitement about the positive changes they will bring. This development is not just a step towards green energy but a leap into a sustainable future.
The financial orchestration behind this project is as impressive as its environmental impact. Leading the charge are UniCredit, BayernLB, and Siemens Financial Services through Siemens Bank. These financial powerhouses have come together in a club deal structure, providing a robust financial backbone for the initiative. The funding includes €77 million of non-recourse senior debt, €41 million for VAT financing, and additional Letter of Credit facilities for Power Purchase Agreements (PPAs) and photovoltaic (PV) modules. Carlos Domenech, the Chief Executive of Enfinity Global, expressed his enthusiasm about this collaboration. “We are thrilled to join forces with UniCredit, BayernLB, and Siemens Bank for these initial projects as we expand our existing 4GW portfolio in Italy,” he said. Domenech’s vision is clear – to contribute significantly to Italy’s energy needs while helping the country meet its carbon emission reduction targets through competitive clean energy. But this is just the beginning of Enfinity Global’s journey in Italy. The company is already in the process of building four additional projects in the province of Viterbo (Lazio), totaling 134MW. These projects, backed by a prior €165 million financing, underscore Enfinity Global’s commitment to transforming Italy’s energy landscape. In summary, Enfinity Global is not just investing in solar power plants; it’s investing in a brighter, greener, and more sustainable future for Italy. As these projects progress, they promise to be a beacon of hope and a model for renewable energy initiatives worldwide.
Credits: [Image: Enfinity Global]