Enfinity Global Inc., a US-based renewable energy leader, has successfully closed €189.6 million in financing for 157.1 MW in eight solar power plants in Lazio and Emilia Romagna, Italy, slated to be operational by 2025. The financing, arranged by BayernLB, ING, and Rabobank, comprises €127.4 million in non-recourse senior debt, €17.1 million in VAT financing, and €45.1 million in LC facilities. According to Enfinity, these plants will generate 271 GWh annually once operational, powering 100,000 homes and cutting CO2 emissions by 122,000 tons. The company has secured long-term PPAs with A2A, Nova Aeg, and another unnamed Italian industrial client. As an independent power producer (IPP), Enfinity is at the top 805 MW of permitted projects in Italy, according to Elemens‘ Q2 Dev&Deals report, and is also the leading solar PPA seller with 388 MW under construction.
BayernLB, ING, Rabobank finance Enfinity Global’s Italian projects
The €189.6 million financing includes VAT financing and LC facilities for PPAs, PV modules, and dismantling. (Image Credit: Enfinity Global)
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