Enfinity Global has closed €142m in long-term and VAT financing, and LCs facilities for the construction of 112MW in three utility-scale solar power plants in Italy.
This financing was comprised of two tranches with Santander Corporate & Investment Banking and BayernLB providing project financing for two power plants totaling 72MW, and an additional tranche for 40MW that also included Nomura.
These institutions have acted as mandated lead arrangers for each project financing through a club deal structure that includes €85m of non-recourse senior debt financing, and €57m of VAT financing and LC facilities (PPA and PV modules).
Carlos Domenech, chief executive of Enfinity Global, said: “We are grateful to partner with three leading financial institutions and demonstrate the quality of our portfolio and the depth of the financing sector.
“Enfinity Global has an additional 318MW of permitted projects and is committed to build out its incremental 2GW of advanced permitting projects in Italy.
“We aim to bring solutions to our customers by delivering predictable and affordable clean energy.
“Our plan will accelerate the country’s energy independence goal while creating thousands of jobs in the green economy.”
The 112MW portfolio is located across the Lazio region and is expected to be operational in the first half of 2024.