Enfinity Global, a Spanish renewable energy company, has purchased Capital Dynamics’ 400 MW utility-scale solar portfolio in the US. The deal, which was first disclosed in September 2022, includes 28 operational solar energy generating facilities spread across California, North Carolina, and Idaho. The portfolio can produce 1,175 GWh of renewable energy yearly, enough to power up to 64,000 homes, while removing 508,000 tonnes of carbon dioxide from the atmosphere. Additionally, it has long-term power purchase agreements (PPAs) in place with off-takers from investment-grade utilities.
Enfinity Global received co-financing for the purchase from funds managed by AB CarVal and Nomura. Bayerische Landesbank, New York Branch, Commonwealth Bank of Australia, Fifth Third Bank, National Association, and Zions Bancorporation also contributed to the transaction. Enfinity Global was established in 2018 and develops, finances, builds, operates, and owns renewable energy assets globally. With offices in the US, Asia, and Europe, the company now has over 7 GW of capacity in operation and development.
In December 2022, Enfinity Global Inc., closed €142 million in long-term and VAT financing, as well as LCs facilities, for the development of 112 MW in three utility-scale solar power projects in Italy. This financing consisted of two tranches with Santander Corporate & Investment Banking (Santander CIB) and BayernLB providing project financing for two power plants totaling 72 MW, and an additional tranche for 40 MW that also included Nomura.
In recent years, India has experienced acute water scarcity. Currently, 600 million Indians experience moderate to severe water stress, and the situation is only going to deteriorate. The country’s water consumption is expected to double by 2030, resulting in severe water scarcity for hundreds of millions of people and a potential six percent decline in GDP.