Enfinity Global has garnered €316m ($368m), reaching financial close on a portfolio of eight utility-scale solar power projects across Italy.
These projects, located in Emilia-Romagna, Basilicata, and Lazio, will collectively generate 276MW.
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The solar facilities are expected to commence operations by the end of 2026.
The financing arrangement was executed through a club deal, with ING, Rabobank, and BNP Paribas as the mandated lead arrangers, lenders, original hedging counterparties, and green loan coordinators.
The financial package includes €214m in nonrecourse senior debt and €101m designated for VAT, letters of credit for power purchase agreements (PPAs), photovoltaic (PV) modules, and decommissioning obligations.
Enfinity Global CEO Carlos Domenech said: “We are proud to partner with Rabobank, BNP Paribas, and ING to continue accelerating the energy transition in Italy.
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By GlobalData“This milestone further validates our long-term vision and commitment to building a sustainable energy platform that enables our customers to access cost-competitive energy to propel their growth, while we drive investment to Italy and create new jobs.”
The energy output from these facilities is projected to reach around 403GWh annually, which is sufficient to power about 150,000 households in Italy.
This is expected to cut nearly 109,000 tons of carbon emissions per year.
The financing brings Enfinity Global’s total funding raised in Italy over the last two years to €1.3bn, as the company continues to develop its 8GW pipeline of solar PV and storage projects in the country, including 564MW presently under construction in Lazio and Emilia-Romagna.
Enfinity Global also holds a significant position in Italy’s solar PPA market, having secured long-term agreements for 805MW with various industrial, corporate, and utility clients.
Enfinity Global general manager for Europe Julio Fournier Fisas said: “This is our largest project financing to date in Italy, reinforcing our leadership in the market and expanding our presence in regions with high energy demand.
“This deal supports our strategy of bringing energy production closer to consumption centres, allowing us to better serve the growing energy needs of corporate and industrial clients based on their geographic location.”
