Independent power producer Enfinity Global has confirmed the signing of power purchase agreements (PPAs) totalling 420 MW for solar photovoltaic projects in Italy with a US-based technology company, according to a statement released on June 10. These agreements provide for the long-term supply of electricity from photovoltaic plants developed by Enfinity across the Italian territory.
Financial details of the deal, as well as the buyer’s identity, were not disclosed. However, the Miami-headquartered company stated that the PPAs align with its strategy to meet the energy needs of international clients operating within the Italian market.
Expanding portfolio and market leadership
Enfinity Global currently claims a portfolio amounting to 35.5 GW of renewable energy and storage projects, including operational, under-construction, and development-stage assets. An additional 37 GW of projects are under negotiation, primarily across the United States, Europe, Japan and India.
In Italy, the company has strengthened its presence over the past two years by securing PPAs totalling 805 MW. This makes it one of the leading market players, according to data from the Q4 Dev&Deals report published by advisory firm Elemens. The report ranks Enfinity as Italy’s top independent power producer (IPP) in terms of authorised projects.
Financial capacity and international reach
Founded in 2019, Enfinity Global is backed by a leadership team with more than $41bn in renewable energy financing experience. The company reports having developed and acquired over 26 GW of solar and wind assets across key markets.
Its operations are supported by offices in the United States, Europe, Japan and India. Enfinity continues to pursue its strategy of long-term bilateral agreements with companies in energy-intensive sectors.
“We are pleased to continue supporting our clients across various sectors in Italy,” said Enfinity Global Chief Executive Officer Carlos Domenech, as quoted in the statement.
