Enfinity Global Secures $20 Million of Growth Capital

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Dec 03, 2020, 08:48 ET

DOVER, Delaware, Dec. 3, 2020 /PRNewswire/ -- Enfinity Global Inc. closed a second funding round of $20 million from funds managed by Spring Creek Investment Management, LLC to continue to scale its global operations of over 3 Gigawatts in projects. The investment was made in two tranches: $10 million at the holding company; and $10 million in a joint warehouse facility to fund the development of 450 Megawatts in Italy.

Spring Creek is an investment manager based in Philadelphia with a proven track record investing in a broad range of industries, including sustainable energy.

Carlos Domenech, CEO of Enfinity Global (PRNewsfoto/Enfinity Global)

Carlos Domenech, CEO of Enfinity Global, noted: "We are excited to partner with the team at Spring Creek and further benefit from their insight of capital formation on renewables".

According to Bloomberg's NEF 2020 report, $130 trillion will have to be deployed globally by mid-century to achieve a 2 Celsius degree temperature reduction. This will bring solar and wind to be 56% of the global electricity generation by 2050. Over $2.6 trillion has been invested in renewable energy from 2010 to 2019 as the fully delivered cost of renewables has become an economically viable replacement for conventional carbon-based fuels.

Domenech added that "the zero-carbon economy will create attractive investment opportunities requiring various types of capital and structures to scale."

About Enfinity Global:

Enfinity Global Inc., together with its subsidiaries, is a global renewable energy solutions platform focused on developing, financing, building, operating and owning renewable energy assets. With offices across Europe, Asia and the US, the company develops energy solutions to help achieve a zero-carbon footprint and enable a sustainable transition to a carbon-free economy worldwide. For more information about Enfinity Global, please visit: www.enfinity.global

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SOURCE Enfinity Global