Investment manager CarVal Investors and Enfinity Global have entered into a $300m loan facility to fund the development of Enfinity’s 3GW of renewable energy projects.
The pipeline includes solar photovoltaic and wind projects under different stages of development, underwriting and evaluation.
The International Renewable Energy Agency (IRENA) estimates that a $131tn investment will be required in order to achieve net zero carbon dioxide emissions by 2050.
Carlos Domenech, CEO of Enfinity Global, said: “We are very pleased to have CarVal as a partner in our journey.
“Together we have designed a $300m facility that aligns sustainable investment guidelines with the execution capabilities required to be a leader in the net zero carbon economy.”
“We are excited to support Enfinity Global’s growth and leverage our combined expertise,” said Jonathan Hunt, a managing director for CarVal Investors.