Enfinity Global Completes Minority Sale of its 400 MW in US
Enfinity Global Inc. announced the successful completion of a minority sale in its 400 MW US operating portfolio to Kyushu Electric Power Co. Inc.
March 21, 2024. By News Bureau
Kyushu Electric has now a 40% equity interest in this portfolio, while Enfinity Global retains 60% and serves as the long-term asset manager of the portfolio.
In September 2023, Kyushu Electric and Enfinity Global signed a definitive agreement for this deal which includes 28 operational solar PV power plants located in California, North Carolina, and Idaho.
Enfinity's plans to build its 11.6 GW proprietary pipeline in the US over the next few years and pursue further investment opportunities both in M&A transactions and agreements with renewable energy developers. The company recently announced the acquisition of 546 MW of solar assets under development from CS Energy in Colorado.
"Our strategy is to partner with investors such as Kyushu Electric that share similar long-term values and goals in the energy markets where we operate", said Carlos Domenech, CEO of Enfinity Global. "Enfinity is a natural partner for investors looking for scale in renewable energy, addressing decarbonization targets, and obtaining attractive returns while having a reliable operational partner on the ground. We are grateful for the trust Kyushu Electric has placed in Enfinity Global".
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