In Italy, Enfinity Global has concluded a long-term financing and a VAT financing for three solar power plants.
Bank financing
In Italy, this financing for the Enfinity Global project amounts to €142 million for the construction of three solar parks. Banks, including Santander CIB and BayernLB, provide this financing. The solar plants represent a total of 72MW with an additional 40MW.
These banking institutions act as mandated lead arrangers for each deal club financing. This structure includes €85 million of debt financing and €57 million of VAT financing and facilities. Carlos Domenech, CEO of Enfinity Global, said:
“We are pleased to partner with these leading financial institutions and demonstrate the quality of our portfolio and the depth of the financing sector. Enfinity Global has another 318MW of authorized projects and is committed to its additional projects in the advanced authorization phase of 2GW in Italy. Our goal is to provide solutions to our customers by offering predictable and affordable clean energy. Our plan will accelerate the country’s goal of energy independence while creating thousands of jobs in the green economy.”
The 112MW portfolio is located in the Lazio region of Italy. In addition, it is expected to become operational in the first half of 2024. These solar plants will produce 191GWh of clean electricity per year, enough to power 71,000 homes.
A recognized experience
In addition, they will avoid the equivalent of the amount captured by 3,500 mature trees. Benoit Felix, Global Head of Structured Debt at SantanderCIB, said:
“We play a key role in accelerating the energy transition. Supporting Enfinity Global reinforces our leadership position in the renewable energy sector and demonstrates our commitment to sustainability. Congratulations to Enfinity Global and everyone involved in the execution of these projects.”
Jonas Benholz, Head of Project Finance in Southern Europe , says:
“BayernLB is proud to further contribute to the development of an emission-free energy system in Italy and worldwide. This transaction has shown that grid parity projects will become the dominant asset class in the renewable energy sector.”
Enfinity Global is a global independent power producer with a renewable energy portfolio of over 7GW. These projects are under operation, construction and development in energy markets with strong fundamentals. In addition, they are part of theEuropean Union‘s REPower EU plan.
Enfinity Global is a leading U.S. renewable energy and sustainability company. The company brings in more than $37 billion in financing experiences. It has over 15GW of solar and wind assets developed and acquired.
