Enfinity Global Inc., a prominent player in the renewable energy sector, has unveiled its latest milestone with the acquisition of 546 megawatts (MW) of solar assets in the state of Colorado. This strategic move represents a significant step forward in Enfinity’s long-term business strategy within the United States and underscores the value it brings to developers as a trusted partner capable of aligning capital and accessing the global supply chain, thereby ensuring cost efficiency and certainty.
The newly acquired portfolio comprises three solar projects developed in Colorado, a state committed to achieving 100% renewable energy generation by 2050. This addition complements Enfinity’s existing development presence within the Western Electricity Coordinating Council (WECC) region and will seamlessly integrate into the company’s in-house development processes and team. The portfolio is anticipated to yield approximately $59 million in recurring EBITDA annually, with investment grade counterparties.
Construction of these solar projects is slated to commence over the next two years, with an expected annual production of 1,054 gigawatt-hours (GWh) of clean electricity once operational. This substantial output will have the capacity to power up to 57,000 U.S. households and contribute significantly to environmental preservation, effectively taking an estimated 101,500 cars off the road.
Enfinity Global has solidified its position as one of the fastest-growing independent power producers in the renewable energy sector, boasting a global portfolio of over 17 gigawatts (GW), including 7.3 GW of energy storage assets and 1 GW of operational assets. In the United States, the company already manages a portfolio of 400 MW and operates 28 solar PV power plants in California, Idaho, and North Carolina. Additionally, Enfinity Global has ownership stakes in 6 GW of solar and storage assets under development across various states in the country.
In the past year, Enfinity Global has successfully secured $380 million USD of capital in the U.S., a testament to its commitment to expanding its renewable energy endeavors on American soil.
“We continue to acquire top quality portfolios in some of the most promising markets in the US to add and complement our 6 GW proprietary pipeline of projects”, commented Ricardo Díaz, CEO Americas of Enfinity Global. “Our long-term ownership business model allows us to partner with relevant investors, stakeholders, and customers, aligning capabilities that create a zero-carbon future and benefit the communities in which we participate. We will continue committed to develop additional projects in Colorado.”
Enfinity continues to consolidate the market leveraging on its fully integrated platform, ability to deploy operational expertise across the entire renewable energy value chain, and international presence. “We take great pride in developing high quality utility-scale assets and are enthusiastic about our ongoing commitment to building a clean sustainable future while nurturing valuable partnerships such as this one”, said Eric Millard, CCO of CS Energy.