Enfinity Global has secured an up to €100 million bond facility to support the deployment of its energy storage and solar PV projects across Europe.
The facility is being provided by Eiffel Investment Group, an independent asset manager focused on sustainable investments, through four of its investment vehicles.
This transaction marks the first time that Enfinity has closed financing for its BESS portfolio in Europe, where it is developing a 6.4GW battery storage pipeline, including 5.1GW in Italy and 1.3GW in the UK.
Enfinity said energy storage is a key component of its strategy to deliver 24/7 renewable energy solutions to corporate and industrial customers while contributing to grid resilience.
“We are thankful to Eiffel Investment Group for supporting the growth of our Italian platform,” said Enfinity Global chief executive Carlos Domenech.
“The future of competitive low carbon energy solutions relies on innovation of technologies and financings supported by market leaders,” he added.
Head of infrastructure funds at Eiffel Investment Group Pierre-Antoine Machelon said: “We are proud to support Enfinity Global in its growth.
“Building a long-term relationship while structuring a tailor-made financing is at the heart of Eiffel DNA.
“This transaction highlights our commitment to providing financial solutions to accelerate the decarbonization in Europe.”
Enfinity Global has currently secured €865m for Europe through multiple junior and senior debt agreements.
“Enfinity Global continues to expand its renewable energy footprint, leveraging our expertise to accelerate the clean energy transition while delivering reliable and cost-effective solutions for the European market,” said Julio Fournier Fisas, general manager of Enfinity Global for Europe.
“We appreciate partners like Eiffel Investment Group who share our vision for the future of energy.”