Sienna Investment Managers (IM), a pan-European multi-expertise asset manager, has provided a 7-year €25 million assetco financing to Enfinity Global, a renowned leader in renewable energy. This financing is designated for the construction of a 134 MW solar portfolio in the Lazio region of Italy. The portfolio comprises four large-scale solar power plants currently under construction, with commissioning set to commence progressively starting from Q2 2024.
Once operational, these plants will generate 225 GWh of clean energy annually, under a 10-year solar power purchase agreement with Statkraft. This energy output is sufficient to power 85,000 Italian homes and offset 91,500 tons of CO2 emissions. Enfinity Global had previously secured €162 million in financing agreements for this portfolio with various international banks.
The successful completion of this transaction underscores the firm commitment of Sienna IM and Enfinity towards participating in Europe’s energy transition. Astris acted as the financial advisor, while DLA Piper and Gianni & Origoni served as legal advisors to the lender and borrower, respectively.
This project marks another significant investment by Sienna IM in Italy under its flagship fund Predirec ENR 2, managed by Sienna AM France. Sienna IM’s Sustainable Infrastructure Debt strategy has already financed renewable energy projects with a combined capacity of 2GW across six European countries.
Enfinity Global stands as a prominent player in Italy’s renewable energy sector, boasting 235 MW under construction, 2.1 GW of solar power plants in advanced permitted stages, and 2.3 GW of storage projects. The company continues to advance its business strategy to emerge as a leading Independent Power Producer (IPP), delivering clean and competitive energy round-the-clock to its customers.
Julio Fournier Fisas, CEO for Europe at Enfinity Global, expressed satisfaction in partnering with Sienna Investment Managers for this transaction, emphasizing its contribution to the deployment of green energy infrastructure in Italy. Ronald Gaultier, Deputy Head of Infrastructure Debt Funds at Sienna IM, echoed the sentiment, expressing excitement about accompanying Enfinity in constructing Italian PV power plants and forging a partnership with a prominent power producer committed to climate change mitigation. This assetco financing aligns perfectly with Sienna IM’s core strategy of delivering infrastructure debt investments compliant with Article 9, focusing on energy transition, as promised to its investors.
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