Enfinity Global has completed the acquisition of a 400MW operational utility-scale solar portfolio.
In September 2022, Enfinity Global signed a definitive agreement with Capital Dynamics to acquire a portfolio consisting of 28 operational solar plants located in California, North Carolina and Idaho, generating recurrent EBITDA of approximately $45m a year with investment grade counterparties.
The portfolio reached commercial operation dates within the last five years and holds long-term power purchase agreements with investment grade utility offtakers.
Enfinity Global is an investor, owner, operator and developer of renewable energy assets, with an existing global portfolio of over 7GW of power plants in operation, under construction and in different stages of development in energy markets with strong fundamentals.
“We are thankful for the opportunity to work with Capital Dynamics with the support of our investment partners,” said Carlos Domenech, CEO of Enfinity Global.
“The US alone invested over $100bn in renewable energy in 2021.
“To succeed in the energy transition, sound investments need to be aligned to capital in scale.”
Funds managed by AB CarVal, an established global alternative investment manager, and Nomura, a global financial institution, acted as co-financing partners to Enfinity Global.
“We are grateful for the trust shown by our financing partners, Nomura and AB CarVal,” said Ricardo Díaz, CEO Americas of Enfinity Global.
“We will continue to expand our presence in the US market by executing our 1.6GW proprietary pipeline of projects and pursuing further investment opportunities both in M&A transactions and agreements with renewable energy developers.”
Enfinity Global was advised on the transaction by an advisory team from CCA Capital LLC and a legal team at McDermott Will & Emery.