US-based renewables developer Enfinity Global has secured $164m (JPY26bn) financing for a 250MW solar portfolio in Japan.
The financing, made in partnership with Macquarie Capital and a syndicate led by Shinhan Asset Management, positions the company for further growth in Japan, it said.
The portfolio consists of seven operating utility-scale solar projects, one scheme under construction, and an enterprise value of over $1bn.
The assets are expected to produce more than 300GWh of clean energy annually, enough to power 60,000 Japanese homes and offset 35,000 tons of CO2 emissions.
“We are delighted to partner with Macquarie and Shinhan as we scale our platform in Japan,” said Enfinity Global chief executive Carlos Domenech.
“Japan’s energy transition needs world-class companies that invest in these high-quality long-lived assets and support emerging energy needs such as those driven by data centres.”
A Macquarie Capital representative added: “We are thrilled to partner with Enfinity Global to support the financing of this portfolio. Our collaboration underscores our commitment to supporting the growth of high-quality renewable energy projects in attractive markets.”
Macquarie Capital, the investment division of Macquarie Group, stands as the world’s largest infrastructure investor in infrastructure and power assets worldwide.