Enfinity obtains funds for 157 MW of additional solar in Italy

US-based renewables specialist Enfinity Global Inc has arranged EUR 189.6 million (USD 209.7m) in construction financing for a portfolio of eight utility-scale solar power projects in Italy with a combined capacity of 157.1 MW.

The solar schemes are spread across the regions of Lazio and Emilia Romagna. Once operational in 2025, they will produce 1 GWh of clean electricity annually, which equals the consumption of 100,000 local homes.

The plants’ output will be commercialised through long-term power purchase agreements (PPAs) signed recently with A2A, Nova Aeg and another Italian industrial customer whose name was not given.

BayernLB, ING and Rabobank were the mandated lead arrangers for the transaction.

Enfinity has a portfolio of permitted projects totalling 805 MW in Italy.

Last month, the company secured EUR 500 million from Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management and Queensland Investment Corporation (QIC) to support the development and construction of 1.5 GW of solar assets across the country.

(EUR 1 = USD 1.106)

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