Enfinity Global has successfully closed €165 million in financing aimed at constructing a portfolio of three utility-scale solar power plants with a combined capacity of 147MW in Italy’s Lazio region. The projects are expected to be operational by 2026, with energy contracted under long-term Power Purchase Agreements (PPAs) with an international technology provider.
Financing Structure
The financing was arranged through a club deal structure, with ING and Rabobank serving as lenders and mandated lead arrangers. This funding package includes €114 million in non-recourse senior debt, along with €51 million allocated for VAT financing and letter of credit (LC) facilities covering PPAs, PV modules, and decommissioning costs.
Environmental Impact
The environmental benefits of this new portfolio are significant, resulting in a reduction of 79,500 tonnes of carbon emissions annually. This reduction is equivalent to removing over 62,000 cars from Italian roads each year, highlighting Enfinity’s commitment to sustainable energy solutions.
Broader Financing Efforts
In 2024 alone, Enfinity has secured €865 million in financing to support the deployment of its 4.8GW portfolio of solar PV and storage projects across Italy, which includes 205MW currently in operation.
Advisory Team
The deal was supported by a comprehensive team of advisors, including Albion as documentary and security agent, Gianni & Origoni as lenders’ legal advisor, DWF as borrower’s legal advisor, Astris Finance as financial advisor, Fichtner Italia as technical advisor, and Marsh as insurance advisor.
Conclusion
With this latest financing, Enfinity Global is well-positioned to expand its renewable energy footprint in Italy, reinforcing its commitment to sustainable energy development and contributing to the country’s energy transition.
Sources
- Enfinity Global – Press Release on Financing
- ING – Renewable Energy Financing Overview
- Rabobank – Financing Solar Projects in Europe
