CashNews.co
This is the latest funding the IPP signed for its Italian solar portfolio, after securing €118 million in December 2023 and a further €25 million in March this year.
The company is currently building 416MW of capacity in Italy across 17 projects, which have secured long-term power purchase agreements (PPAs). The latest of such PPAs was signed last month with Italian utility A2A. Under the PPA, electricity will be provided through six solar plants with a combined capacity of 134MW.
“As Enfinity advances and expands its existing 25.1 GW global portfolio, capital formation plays an instrumental enabling role. We are focused on serving deep energy markets with the right fundamentals and partnering with strategic investors and leading financial institutions,” said Ricardo Diaz, Americas CEO and Global Head of Capital at Enfinity Global. “Enfinity’s capital formation efforts are centered around establishing long-lasting relationships that efficiently scale and create value for the entire value chain as we serve customer needs.”
Enfinity has a 4.8GW portfolio of solar and energy storage assets in various stage of development in Italy. In the past couple of years, the Italian solar market has had a renaissance after nearly a decade of lethargy. Last year the country added 5.2GW of solar PV capacity, the most in over a decade. This year’s installs have had a stellar start, especially for utility-scale, which saw a 373% increase between Q1 2024 and Q1 2023.