(Finance) – Infinity Global Inc, leader in the energies renewableclosed a financing from 118 million euros for the construction of four 101 MW utility-scale solar plants located in Lazio (Italy). The facilities are expected to come into operation in 2024. UniCredit, BayernLB and Siemens Financial Services, through Siemens Bank, acted as mandated lead arrangers (MLA) for each project financing through a club deal structure. The financing includes €77 million of senior non-recourse debt, €41 million of VAT financing and LC credit lines (for PPAs and photovoltaic modules).
The four plants, entirely developed by Enfinity Global, will have a virtuous environmental impact, which will result in the production of 172 GWh Of clean electricity per year, enough to power 64,000 homes and offset 69,000 tonnes of CO2 emissions, equivalent to the quantity absorbed by 3,100 trees.
“We are pleased to partner with UniCredit, BayernLB and Siemens Bank on this first series of projects, as we build our 4 GW portfolio,” he said Carlos Domenech, CEO of Enfinity Global. “We are proud to bring competitive clean energy to Italy to support the country’s net energy needs and carbon emissions reduction objectives.”
Enfinity Global is currently building more 134 MW in 4 projects in the province of Viterbo (Lazio), for which it has previously raised financing of 165 million euros.
“We plan to invest 3 billion euros over the next 3 years in Italy, as we continue to advance our projects.” He commented Julio Fournier Fisas, CEO for Europe of Enfinity Global. “Italy is a key strategic market for us and we are looking to continue to grow our existing portfolio through internal development, co-development agreements with partners and acquisitions.”
“In line with our goal of empowering communities to progress, at UniCredit we are committed to meaningful progress towards a more sustainable, inclusive and equitable society. We are therefore proud to support Enfinity’s investment plans in Italy, as they fit perfectly with our ESG strategy and our commitment to fostering the transition towards a low-carbon economy, based on green energy, for the benefit of the communities we serve” he commented Marco BortolettiRegional Manager Lombardy of UniCredit.
(Photo: Zbynek Burival on Unsplash)