On January 10, 2023, Enfinity Global Inc., a pioneer in the energy transition, announced the acquisition of a 400 MW operational utility-scale solar portfolio, marking a milestone in the company's expansion in the United States.
Enfinity Global signed a binding agreement with Capital Dynamics in September 2022 to acquire a diversified contractual portfolio, consisting of 28 operational solar PV power plants in North Carolina, California, and Idaho, generating approximately $45 million per year in recurring EBITDA with investment-grade counterparties.
The portfolio has reached COD during the last five years and has long-term power purchase agreements with investment-grade utility off-takers. It generates 1,175 GWh of clean electricity annually, sufficient to power up to 64,000 households in US and offset 508,000 metric tons of CO2 emissions, comparable to taking 110,000 cars off the road.
Enfinity Global, one of the most rapidly expanding investors, owners, operators, and developers of renewable energy assets, with a global portfolio of more than 7 GWh of power plants in operation, under construction, and at various phases of development in the energy markets with solid fundamentals.
"We are thankful for the opportunity to work with Capital Dynamics with the support of our investment partners," He also said, "The US alone invested over $100 billion in renewable energy in 2021. To succeed in the energy transition, sound investments need to be aligned to capital in scale."
-Carlos Domenech, CEO of Enfinity Global
(Source: Cision PR Newswire)
Funds managed Nomura, a global financial institution, and AB CarVal, an established global alternative investment manager, acted as co-financing partners to Enfinity Global.
"We are pleased to partner with Enfinity Global and Nomura on the strategic acquisition of this portfolio and help support Enfinity's growth as a global renewable operator."
-Jerry Keefe, a principal with AB CarVal
(Source: Cision PR Newswire)
Enfinity Global was advised on this acquisition by a team from CCA Capital LLC and a legal team from McDermott Will & Emery LLP.
About Enfinity Global Inc.
Enfinity Global Inc., headquartered in Miami, Florida, is a leading developer of sustainability services with a focus on renewable energy. It concentrates on implementing solutions to achieve a net-zero carbon footprint and facilitate a global transition to a carbon-free economy. Its primary business is the long-term development, financing, construction, operation, and ownership of renewable energy assets in Asia, Europe, and the Americas.