Enfinity Global has agreed a €25m finance facility with Sienna Investment Managers (IM) to construct a 134MW solar portfolio in Lazio, in Italy.
The portfolio consists of four large-scale solar power plants under construction and is scheduled to commission progressively starting second quarter 2024.
Once operational, it will generate 225GWh of clean energy annually, contracted with Statkraft through a 10-year solar power purchase agreement.
Enfinity Global previously secured €162m in financing agreements for this portfolio with a pool of international banks.
Astris acted as financial advisor, DLA Piper served as the lender’s legal advisor and Gianni & Origoni served as the borrower’s legal advisor.
The Sustainable Infrastructure Debt strategy of Sienna IM has already financed renewable energy schemes with a total capacity of 2GW across six countries in Europe.
In Italy Enfinity Global has 235MW under construction, 2.1GW of solar power plants in advanced permitted stages, and 2.3GW of storage projects.
Chief executive for Europe at Enfinity Global Julio Fournier Fisas said: “We are pleased to partner with Sienna Investment Managers for this transaction as we keep progressing in the deployment of green energy infrastructure in Italy.
“It represents a good example of our ability to attract high-quality asset investments to our portfolios.”