Enfinity Global Inc., a leading renewable energy company, has announced the successful financial close of €316 million to support the construction of eight large-scale solar power plants in Italy. With a total combined capacity of 276 MW, these projects are spread across the regions of Emilia Romagna, Basilicata, and Lazio. The plants are scheduled to be fully operational by the end of 2026, marking an important step in advancing Italy’s clean energy transition.
The financing was secured through a club deal structure with ING, Rabobank, and BNP Paribas serving as Mandated Lead Arrangers, Lenders, Original Hedging Counterparties, and Green Loan Coordinators. The package includes €214 million in non-recourse senior debt and €101 million in facilities to cover VAT, letters of credit for PPAs, PV modules, and decommissioning obligations. This financial structure reflects strong institutional support for Enfinity Global’s growth and the wider renewable energy market in Italy.
Carlos Domenech, CEO of Enfinity Global, stated, “We are proud to partner with Rabobank, BNP Paribas, and ING to continue accelerating the energy transition in Italy. This milestone further validates our long-term vision and commitment to building a sustainable energy platform that enables our customers to access cost-competitive energy to propel their growth, while we drive investment to Italy and create new jobs.”
Julio Fournier Fisas, Enfinity Global General Manager for Europe, mentioned, “This is our largest project financing to date in Italy, reinforcing our leadership in the market and expanding our presence in regions with high energy demand. This deal supports our strategy of bringing energy production closer to consumption centers, allowing us to better serve the growing energy needs of corporate and industrial clients based on their geographic location.”
Once operational, the new portfolio is expected to generate about 403 GWh of clean electricity annually, equivalent to the yearly energy consumption of nearly 150,000 Italian households. In addition, the projects will contribute to avoiding an estimated 109,000 tons of CO₂e emissions every year, supporting national and EU decarbonization goals.
This financing brings Enfinity Global’s total capital raised in Italy over the past two years to €1.3 billion. The company is rapidly advancing its 8 GW pipeline of solar PV and storage projects in the country, which includes 564 MW currently under construction in Lazio and Emilia Romagna. Enfinity also leads Italy’s solar Power Purchase Agreement (PPA) market, having signed 805 MW of long-term agreements with industrial, corporate, and utility off-takers.
Thomas Beaumont, Head of Energy Origination EMEA at BNP Paribas, said in a statement, “BNPP Energy and Infrastructure is proud to close our first project finance transaction with Enfinity, marking the beginning of a strong partnership in the renewable energy sector. This landmark financing supports the deployment of a large-scale solar portfolio in Italy, reinforcing our commitment to accelerating energy transition in one of Europe’s most dynamic markets, further expanding our role as a leading player in the sector. We look forward to collaborating again with Enfinity to support their significant growth strategy worldwide.”
Diederik van den Berg, Managing Director, Global Lead Renewables & Power, explained, “ING is proud to again have been selected by Enfinity Global to assist in this important financing in Italy. This is ING’s third repeat mandate in Italy with Enfinity Global, demonstrating our shared ambition to grow renewable energy and excellent local capabilities in the market. ING remains committed to growing our renewables lending commitment globally to €7.5 billion annually by 2025 and we look forward to continuing the journey with Enfinity Global in renewables in Italy and elsewhere.”
“Rabobank Project Finance congratulates Enfinity Global and our co-lenders BNP Paribas and ING on another successful financial close for the financing of a portfolio of solar PV assets in Italy. Following the successful close of the two financings last year, this is our third Italian portfolio financing with Enfinity Global. Rabobank is excited to work with such an experienced and large renewable energy player acting globally, and has enjoyed pleasant, efficient, and professional cooperation. This project further strengthens Rabobank’s ambition to be a leading player in the renewable energy sector globally and increases our footprint in Italy. We look forward to supporting Enfinity Global’s growth strategy as they continue to build out their portfolio of renewable energy assets”, said Marc Schmitz, Head of Project Finance Europe and Asia at Rabobank.
The deal was supported by a wide team of advisors: Bondholders acted as Facility Agent and Documentary and Security Agent, Gianni & Origoni served as lenders’ legal advisor, Bird & Bird as borrower’s legal advisor, Astris Finance as financial advisor, Vector Renewables as technical advisor, PricewaterhouseCoopers as auditor advisor, and MAG Consulting Srl as insurance advisor.
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