Enfinity Global has completed the sale of a minority stake in its 400MW US operating portfolio to Japanese utility Kyushu Electric Power.
Kyushu Electric has now a 40% equity interest in this portfolio, while Enfinity Global retains 60% and serves as the long-term asset manager of the sites.
In September 2023, Kyushu Electric and Enfinity Global signed a definitive agreement for this deal which includes 28 operational solar PV power plants located in California, North Carolina, and Idaho.
Enfinity’s plans to build its 11.6GW proprietary pipeline in the US over the next few years and pursue further investment opportunities both in M&A transactions and agreements with renewable energy developers.
The company recently announced the acquisition of 546MW of solar assets under development from CS Energy in Colorado.
Enfinity Global chief executive Carlos Domenech said: “Our strategy is to partner with investors such as Kyushu Electric that share similar long-term values and goals in the energy markets where we operate.
“Enfinity is a natural partner for investors looking for scale in renewable energy, addressing decarbonization targets, and obtaining attractive returns while having a reliable operational partner on the ground.
“We are grateful for the trust Kyushu Electric has placed in Enfinity Global.”