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Enfinity Global Secures €316 Million Financing for 276 MW of Solar Projects in Italy
The financing was arranged through a club deal structure, with ING, Rabobank, and BNP Paribas, acting as Mandated Lead Arrangers, Lenders, Original Hedging Counterparties and Green Loan Coordinators. The funding package includes €214 million in non-recourse senior debt alongside €101 million in facilities for VAT, letters of credit (LCs) for PPAs, PV modules and decommissioning obligations.
The energy generated by this new portfolio is expected to total approximately 403 GWh annually, resulting in an estimated reduction of 109,000 tons of CO₂e emissions each year. This is equivalent to the annual electricity consumption of around 150,000 Italian households.
said Carlos Domenech , CEO of Enfinity Global.
commented Julio Fournier Fisas, Enfinity Global General Manager for Europe .
This financing brings Enfinity Global's total raised in
Italy in the last two years to €1.3 billion, as the company advances its 8 GW pipeline of solar PV and storage projects in the country, including 564 MW currently under construction in
Lazio and Emilia-Romagna . Enfinity currently leads
Italy's solar PPA market, having signed 805 MW of long-term agreements with industrial, corporate, and utility off-takers.
commented Thomas Beaumont , Head of Energy Origination EMEA at BNP Paribas.
commented Diederik van den Berg , Managing Director, Global Lead Renewables & Power.
said Marc Schmitz , Head of Project Finance Europe and Asia at Rabobank.
The deal was supported by a team of advisors, including Bondholders as Facility Agent and Documentary and Security agent, Gianni & Origoni as lenders' legal advisor, Bird & Bird as borrower's legal advisor, Astris Finance as financial advisor, Vector Renewables as technical advisor, PricewaterhouseCoopers as auditor advisor, and MAG Consulting Srl as insurance advisor.
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