Enfinity Global has closed €118m in financing for the construction of four utility-scale solar power plants with a combined capacity of 101MW in Italy.
Located in the region of Lazio, the projects are expected to become operational in 2024.
UniCredit, BayernLB, and Siemens Financial Services through Siemens Bank have acted as mandated lead arrangers for each site financing through a club deal structure.
This will provide €77m of non-recourse senior debt, €41m of VAT financing, and LC facilities for PPAs and PV modules.
Enfinity Global chief executive Carlos Domenech said: “We are delighted to partner with UniCredit, BayernLB, and Siemens Bank for this initial set of projects as we build our existing 4GW portfolio in Italy.
“We are pleased to bring competitive clean energy to Italy in support of the country’s net energy needs and carbon emission reduction targets.”
Enfinity Global is currently building four additional projects in Italy, totaling 134MW, in the province of Viterbo (Lazio), for which it previously closed €165m in financing.