Enfinity Global has closed a $97m structured credit facility with Nomura for a 608MW solar portfolio in the US.
The portfolio consists of operational assets and those under construction, spanning the CAISO, WECC, and SERC markets within the US.
The asset-based credit facility provides both development and construction financing for Enfinity’s development and ready-to-build projects, along with strategic refinancing for its operational fleet.
The facility contemplates a potential upsize of up to $400m to continue driving Enfinity’s US development and construction portfolio forward.
Enfinity Global has an existing US portfolio of 14.8GW of solar and energy storage with land and interconnection in place, plus an additional 33GW under negotiation.
The company expects to have over 1GW of solar and storage assets operational and under construction in the US over the next 12 months.
“Nomura has been a foundational financing partner to Enfinity in the U.S. and Japan as we accelerate the expansion of our global IPP platform,” said Enfinity Global chief executive Carlos Domenech.
He added: “Nomura’s model allows for flexibility in capital formation and deployment, thus creating momentum for our portfolio; we are grateful for their continued support.”
“We are pleased to have another opportunity to partner with Enfinity as it continues to build on its track record of successful deployment of large-scale clean energy assets supporting the energy transition,” global head of Nomura infrastructure & power business Vinod Mukani.
“We look forward to continuing to support Enfinity’s ambitious growth in the industry.”