Enfinity Global secures a new clean energy commercialization agreement in Italy and reaches 225 GWh in the first quarter of 2023

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Apr 18, 2023, 08:00 ET

MIAMI , April 18, 2023 /PRNewswire/ -- Enfinity Global Inc.(EG), a leader in renewable energy, has signed a long-term solar power purchase agreement (PPA) with Statkraft for the commercialization of 34 GWh/year of clean electricity in Italy that complements the closing of additional 191 GWh announced in January 2023.

The total 225 GWh/year of clean energy contracted will be produced by a 134 MW utility-scale solar power portfolio located in the province of Viterbo. Once operational, the energy produced will be enough to power 85,000 homes and offset 91,500 tons of CO2 emissions, equivalent to the amount captured by 4,200 mature trees.

The company has closed €22.6 million in financing with Santander Corporate & Investment Banking (Santander CIB) and BayernLB for the construction of a 22 MW utility-scale solar power plant that will be serving the new PPA. These institutions have acted as mandated lead arrangers through a club deal structure that includes non-recourse senior debt financing, VAT financing and LC facilities.

"We are very grateful to strengthen our collaboration with Statkfraft, Santander CIB and BayernLB in these transactions, which proves our ability to build scalable long-term business partnerships," said Carlos Domenech, CEO of Enfinity Global. "The vast majority of our portfolio is located in regions that together account for more than 80% of the country's electricity demand, which demonstrates our value as a relevant partner for Italy's energy transition."

According to the Elemens LookOut Report, Enfinity Global consolidated its leading position in Italy in 2022 by topping the ranking of utility-scale solar energy companies per number of MW permitted (367 MW) and was the company that submitted the highest number of MW for approval during the year. Enfinity Global owns a 2.3 GW portfolio of projects in different stages of development in Italy.

About Enfinity Global

Enfinity Global Inc., together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2018. With offices across US, Asia, and Europe, and a pipeline of over 6 GW of projects in operation and different stages of development, the company aims to make a significant contribution to the transition to a net zero carbon sustainable economy. Enfinity's leadership team brings over $37 billion of financing experience in the renewable energy sector and over 15 GW of developed and acquired solar and wind assets. www.enfinity.global

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SOURCE Enfinity Global