Enfinity Global Inc, a prominent player in the renewable energy sector, has announced the successful closure of €189.6 million in financing to support the development of eight utility-scale solar power plants in Italy. The projects, totaling 157.1 megawatts (MW), will be situated in the Lazio and Emilia Romagna regions and are projected to commence operations in 2025.
The financing was arranged through a club deal structure with BayernLB, ING, and Rabobank serving as mandated lead arrangers. The financial package includes €127.4 million in non-recourse senior debt, €17.1 million allocated for VAT financing, and €45.1 million designated for LC facilities related to Power Purchase Agreements (PPAs), photovoltaic (PV) modules, and dismantling costs.
The energy generated by these solar installations will be marketed under long-term PPAs with A2A, Nova Aeg, and another major Italian industrial client. The portfolio is expected to produce 271 gigawatt-hours (GWh) of clean electricity annually, enough to supply 100,000 Italian homes and reduce CO2 emissions by 122,000 tons.
This significant financing milestone underscores Enfinity’s commitment to Italy’s energy transition and aligns with the country’s EU 2030 decarbonization goals. According to Elemens’ Q2 Dev&Deals report, Enfinity is the leading Independent Power Producer (IPP) in Italy, with 805 MW of permitted projects and is also the leading solar PPA seller in the country, with 388 MW signed and under construction.
Carlos Domenech, CEO of Enfinity Global, expressed gratitude to the financing partners, stating, “We are grateful to BayernLB, ING, and Rabobank for their partnership in Italy. We appreciate BayernLB’s support in financing 400 MW in Italy to date. Together, we are setting a new standard for financing and developing clean energy in Italy.”
This financing deal represents a crucial step in Enfinity Global’s ongoing efforts to enhance its renewable energy portfolio and drive sustainable energy solutions in Italy and beyond.
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