Enfinity Global Announces Acquisition of 400 MW of Operating Solar Projects

Enfinity Global Inc. (EG) announced it has completed the acquisition of a 400 MW operational utility-scale solar portfolio, marking a milestone in the expansion of the company in the US.

In September 2022, Enfinity Global signed a definitive agreement with Capital Dynamics to acquire a diversified contracted portfolio, consisting of 28 operational solar PV power plants located in California, North Carolina and Idaho, generating recurrent EBITDA of approximately $45 million per year with investment grade counterparties.

The portfolio reached COD within the last five years and holds long-term Power Purchase Agreements with investment grade utility off-takers.

It produces 1,175 GWh of clean electricity per year, enough to power up to 64,000 US households and offset 508,000 tons of CO2 emissions, which is equivalent to taking 110,000 cars off the road.

Enfinity Global is one of the fastest-growing investors, owners, operators, and developers of renewable energy assets, with an existing global portfolio of over 7 GW of power plants in operation, under construction and in different stages of development in energy markets with strong fundamentals.

"We are thankful for the opportunity to work with Capital Dynamics with the support of our investment partners", commented Carlos Domenech, CEO of Enfinity Global. "The US alone invested over $100 billion in renewable energy in 2021. To succeed in the energy transition, sound investments need to be aligned to capital in scale."

"We are grateful for the trust shown by our financing partners, Nomura and AB CarVal," commented Ricardo Díaz, CEO Americas of Enfinity Global. "We will continue to expand our presence in the US market by executing our 1.6 GW proprietary pipeline of projects and pursuing further investment opportunities both in M&A transactions and agreements with renewable energy developers."