Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61234.mp3?version=1702442700">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-kyon-energy-storage-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Kyon Energy, a large-scale energy storage project developer, </strong><a href="https://mercomcapital.com/kyon-energy-sells-energy-storage-projects-germany/" target="_blank" rel="noopener"><strong>sold</strong></a><strong> four projects in Germany with a cumulative capacity of 194.7 MW to Obton</strong>, <strong>a Danish solar photovoltaic systems operator</strong>. The latest sale includes Europe’s largest battery storage facility in Alfeld, Lower Saxony (137.5 MW/275 MWh), marking the third project that Kyon Energy has transferred to the Danish investor this year. The company had previously sold Saxony-Anhalt (15.8 MW/35 MWh) and Karstädt, Brandenburg (20.7 MW/41.4 MWh) to Obton. The fourth energy storage project with 20.7 MW capacity is expected to be delivered to Obton by the end of 2023.</p>
<p><strong>Enfinity Global, a renewable energy company, </strong><a href="https://mercomcapital.com/enfinity-global-secures-127-million-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €118 million (~$127.35 million) financing for constructing four utility-scale solar power projects</strong> totaling 101 MW located in the Lazio (Italy) region, which are expected to become operational in 2024. The financing will provide €77 million (~$83.10 million) of non-recourse senior debt, €41 million (~$44.25 million) of VAT financing, and LC facilities for PPAs and PV modules.</p>
<p><strong>Voltalia, an independent renewable energy power producer, </strong><a href="https://www.voltalia.com/news-releases/news-release-details/voltalia-acquires-60-megawatt-solar-plant" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 55% stake in the 60 MW Mosselbanken solar project</strong> in the Netherlands. The project is located in the industrial port of Terneuzen, in the Zeeland province. The project revenues benefit from a Power purchase agreement (PPA) of 15 years.</p>
<p><strong>Abu Dhabi Future Energy Company, Masdar, along with Taaleri Energia, a Finland-based renewable energy developer, have </strong><a href="https://www.mercomindia.com/masdar-acquires-1-gw-renewable-portfolio-poland" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> eight hybrid renewable energy projects</strong> in Poland with a combined capacity of 1 GW from Domrel Biuro Usług Inwestycyjnych. The projects are under construction and will deploy solar photovoltaic and onshore wind technologies. Once in operation, they are expected to power 223,000 households and offset 1.8 million tons of carbon dioxide annually.</p>
<p><strong>Audax Renovables, a vertically integrated Spanish renewable energy group, has </strong><a href="https://mercomcapital.com/audax-renovables-secures-financing-solar-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> institutional financing</strong> <strong>of €66 million (~$71.17 million)</strong> to construct a portfolio of 12 solar projects totaling 141 MW in Spain. The financing for the solar projects led by the European Investment Bank will also promote the commissioning of the solar portfolio.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-summit-ridge-acquires-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Project Finance Brief: Kyon Energy Sells 194.7 MW Storage Projects


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/11/amazon_polly_59974.mp3?version=1698902024">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-ingka-investments-acquires-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Ingka Investments, the investment arm of Ingka Group, </strong><a href="https://mercomcapital.com/ingka-investments-acquires-solar-project-in-romania/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 300 MW of ready-to-build solar PV projects in Romania</strong>. The total investment in the solar PV project will amount to over €200 million (~$211.74 million). The project is located in Dâmbovița County, northwest of Bucharest, and has a total installed capacity of 300 MW that, once operational towards the end of 2025, will produce enough renewable energy for the equivalent of roughly 95,000 European households.</p>
<p><strong>Gore Street Energy Storage Fund, a UK-based energy storage fund, </strong><a href="https://mercomcapital.com/gore-street-energy-secures-financing-for-energy-storage-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> financing for a 200 MW energy storage project in Imperial County, California</strong>. The First Citizens Bank, through its energy finance business, served as the lead agent. The company’s subsidiary, Big Rock ESS Assets, owns the 200 MW/ 400 MWh California battery storage project, which will benefit from contracted revenue through the Resource Adequacy program. The financing will support the remaining development of the project and provide Gore Street Energy Storage with additional liquidity for its growing portfolio.</p>
<p><strong>Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-brazilian-solar-project-portfolio-engie/" target="_blank" rel="noopener">reached</a> an agreement to sell 546 MW portfolio of operating solar assets </strong>with Engie Brasil Energia Complementares Participações, a part of the Engie Group in Brazil. The operating portfolio includes solar power assets, namely, Juazeiro, Sao Pedro, Sol do Futuro, Sertao Solar, and Lar do Sol, and located across the states of Bahia, Ceara and Minas Gerais.</p>
<p><strong>Enfinity Global, a renewable energy company, has </strong><a href="https://mercomcapital.com/enfinity-global-sells-minority-stake-in-solar-project/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to sell a minority stake in its 400 MW operating solar projects portfolio</strong> in the U.S. to Kyushu Electric, a Japan-based utility company. Upon completion of the deal, Kyushu Electric will hold a 40% equity interest in the portfolio. Enfinity Global will retain a 60% equity interest and will be the long-term asset manager of the portfolio.</p>
<p><strong>SUNfarming, a solar project developer and installer, </strong><a href="https://mercomcapital.com/sunfarming-secures-mezzanine-debt-solar-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> mezzanine debt financing in a double-digit million amount for 185 MW of solar projects</strong>. The subordinated debt was provided by a managed account, which is administered by Prime Capital. The funds were raised in the form of bearer bonds at the level of group companies. Capcora acted as the exclusive financial advisor to SUNfarming in the transaction.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-plus-power-secures-billion/" target="_blank" rel="noopener">brief</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Project Finance Brief: Ingka Investments Acquires 300 MW of Solar Projects


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/09/amazon_polly_58980.mp3?version=1695885677">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Recurrent Energy, a wholly-owned subsidiary of Canadian Solar and a utility-scale solar and energy storage project developer, </strong><a href="https://mercomcapital.com/recurrent-energy-secures-financing-liberty-solar-project/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> project financing</strong> for its 134 MW (100 MWac) Liberty Solar project. The project is under construction in Liberty County, Texas, and is expected to reach operations in 2024. Rabobank, Nord LB, and U.S. Bank will provide construction debt, a letter of credit facility, and a term facility totaling $120 million. U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, will provide the tax equity totaling $80 million.</p>
<p><strong>Southern Power, an electric utility subsidiary of Southern Company, </strong><a href="https://mercomcapital.com/southern-power-acquires-solar-project-200mw-texas/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> the 200 MW Millers Branch solar project from EDF Renewables</strong>. The solar facility is currently in the early stages of development and has the potential to expand up to 500 MW. The project is located in Haskell County, Texas. Southern Power will lead the continued development and construction of the Millers Branch, which is expected to achieve commercial operation in the fourth quarter of 2025.</p>
<p><strong>Cubico Sustainable Investments, a London-based renewable energy developer and asset owner, has </strong><a href="https://www.prnewswire.co.uk/news-releases/cubico-sustainable-investments-acquires-121-mw-of-wind-and-solar-in-uruguay-301936150.html" target="_blank" rel="noopener"><strong>completed</strong></a><strong> the acquisition of three operational projects</strong> in Uruguay from Brookfield. The transaction comprises two wind projects, 52 MW Carape I and 43 MW Carape II in Maldonado, and one solar photovoltaic project, 26 MW Alto Cielo in Artigas.</p>
<p><strong>Renewable energy company Enfinity Global has </strong><a href="https://www.mercomindia.com/enfinity-boosts-renewable-solar-asset-acquisition-in-us" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of 546 MW of solar assets under development in Colorado</strong>, United States, from the engineering, procurement, and construction (EPC) firm CS Energy. The acquisition encompasses three solar projects in Colorado, a region with a mandate to achieve 100% renewable energy by 2050.</p>
<p><strong>DSD Renewables, a solar and energy storage solutions provider, </strong><a href="https://mercomcapital.com/dsd-acquires-community-solar-portfolio-in-minnesota/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a community solar portfolio totaling 15 MW in Minnesota from New Energy Equity</strong>. The construction of the four solar projects is already ongoing and is slated to start at the remaining five sites by the end of 2023. Completion of the entire portfolio is expected by 2024.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-samsung-sells-solar-energy-projects/" target="_blank" rel="noopener">brief</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Project Finance Brief: Recurrent Secures Financing for 100 MW Solar Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/09/amazon_polly_58890.mp3?version=1695617112">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong><a href="https://www.mercomindia.com/cerc-high-price-bilateral-market-segment-pxil" target="_blank" rel="noopener">The Central Electricity Regulatory Commission recently approved Power Exchange India’s (PXIL) proposal to introduce high price bilateral market segment.</a></strong> The Commission also approved PXIL’s proposal to introduce the High Price Term-Ahead Market (HP-TAM) and contingency contracts. The central regulator directed GRID-INDIA to submit a report on the experience and performance of HP-TAM and HP-contingency contracts within three months from the date of introduction of these contracts.</p>
<p><strong><a href="https://www.mercomindia.com/indian-oil-consultancy-tender-renewable-projects-india" target="_blank" rel="noopener">Indian Oil Corporation has invited bids to appoint a technical consultant for project management consultancy services to set up renewable energy projects at various locations across</a></strong> India. The last date to submit the bids is September 29, 2023. Bids will be opened on October 3. Bidders are not required to pay any earnest money deposit. The contract will be valid for three years from the issuance of the letter of award.</p>
<p><strong><a href="https://www.mercomindia.com/sterlite-expands-green-acquiring-beawar-transmission" target="_blank" rel="noopener">Power transmission company Sterlite Power has acquired Beawar Transmission, a special purpose vehicle (SPV) held by REC Power Development and Consultancy, a wholly-owned</a></strong> subsidiary of REC, in Rajasthan. Sterlite Power secured this project through the tariff-based competitive bidding process in August 2023. The Beawar Transmission SPV is the conduit through which Sterlite Power will execute the green energy corridor project, on the build, own, operate, transfer model, spanning a contractual period of 35 years.</p>
<p><a href="https://www.mercomindia.com/enfinity-boosts-renewable-solar-asset-acquisition-in-us" target="_blank" rel="noopener"><strong>Renewable energy company Enfinity Global has announced the acquisition of 546 MW of solar assets under development in Colorado, United States, from Australia-based electric utility CS Energy.</strong></a> The acquisition encompasses three solar projects in Colorado, a region with a mandate to achieve 100% renewable energy by 2050. The company said this portfolio complements Enfinity’s existing development presence in the Western Electricity Coordinating Council region and will seamlessly integrate into the company’s in-house development processes and team.</p>
<p><a href="https://www.mercomindia.com/europes-power-sector-calls-for-ramping-up-aging-grid-infrastructure" target="_blank" rel="noopener"><strong>Europe’s power industry has called for ramping up investments in aging grid infrastructure by 84% every year until 2050</strong>.</a> The grid infrastructure is ill-suited for accommodating decentralized renewables, electric vehicles and smart grids, Eurelectric, which represents the interests of the European electricity industry, said. In its Power Barometer 2023 report, Eurelectric highlighted the importance of investing in grid infrastructure upgrades to achieve renewable energy objectives.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: CERC Approves High Price Bilateral Market Segment on PXIL


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/09/amazon_polly_58874.mp3?version=1695885306">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Renewable energy company <a href="https://enfinity.global/" target="_blank" rel="noopener">Enfinity Global</a> has announced the acquisition of 546 MW of solar assets under development in Colorado, United States, from the engineering, procurement, and construction (EPC) firm <a href="https://csenergy.com/" target="_blank" rel="noopener">CS Energy</a>.</p>
<p>The acquisition encompasses three solar projects in Colorado, a region with a mandate to achieve 100% renewable energy by 2050.</p>
<p>The company said this portfolio complements Enfinity&#8217;s existing development presence in the Western Electricity Coordinating Council (<a href="https://www.wecc.org/Pages/home.aspx" target="_blank" rel="noopener">WECC</a>) region and will seamlessly integrate into the company&#8217;s in-house development processes and team.</p>
<p>Anticipated to generate recurrent an EBITDA of approximately $59 million per year, the acquired portfolio features investment-grade counterparties. Construction is expected to commence in the next two years, and once operational, it will generate 1,054 GWh of clean electricity annually.</p>
<p>Enfinity Global has a global portfolio of over 17 GW, including 7.3 GW of energy storage assets and 1 GW of operational assets. In the U.S., it manages a portfolio comprising 400 MW and 28 solar PV power projects across California, Idaho, and North Carolina, in addition to owning 6 GW of solar and storage assets in various stages of development across the country.</p>
<p>Over the past year, the company has secured $380 million in capital investment within the U.S.</p>
<p>Ricardo Díaz, CEO Americas of Enfinity Global, said, &#8220;We continue to acquire top-quality portfolios in some of the most promising markets in the U.S. to add and complement our 6 GW proprietary pipeline of projects. Our long-term ownership business model enables us to collaborate with significant investors, stakeholders, and customers, aligning our capabilities to create a zero-carbon future and benefit the communities in which we participate. We remain committed to developing additional projects in Colorado and across the nation.&#8221;</p>
<p>Eric Millard, Chief Commercial Officer of CS Energy, said,&#8221;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.&#8221;</p>
<p>Earlier in January, the company <a href="https://www.mercomindia.com/enfinity-global-acquires-400-mw-of-projects-in-the-us" target="_blank" rel="noopener">acquired</a> a 400 MW operational utility-scale solar portfolio to expand the company’s reach in the U.S.</p>
<p>Last November, Enfinity Global <a href="https://mercomindia.com/daily-news-wrap-up-enfinity-adds-solar-capacity-india/" target="_blank" rel="noopener">added</a> 205 MW of solar capacity in India with the interconnection of 135 MW projects in Maharashtra. The company acquired six projects from Rays Power Infra in Telangana and Karnataka.</p>
<p>The company also <a href="https://mercomindia.com/project-finance-brief-enfinity-global-solar-projects-japan/" target="_blank" rel="noopener">raised</a> $242 million in long-term financing for three solar projects in Japan totaling 70 MW last year.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

Enfinity Boosts Renewable Portfolio with 546 MW Solar Asset Acquisition in US


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/01/amazon_polly_47637.mp3?version=1673516200">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Renewable energy company <a href="https://enfinity.global/" target="_blank" rel="noopener">Enfinity Global</a> said it has acquired a 400 MW operational utility-scale solar portfolio to expand the company’s reach in the U.S.</p>
<p>The co-financing partners in the acquisition were global alternative investment manager AB CarVal, and financial institution Nomura.</p>
<p>“The US alone invested over $100 billion in renewable energy in 2021. To succeed in the energy transition, sound investments need to be aligned to capital in scale,” Carlos Domenech, CEO of Enfinity Global, said.</p>
<p>Global Head of Nomura’s Infrastructure and Power Business Vinod Mukani said, “Nomura is delighted to develop creative solutions for its clients, particularly those like Enfinity Global who have experienced and talented teams and an attractive business strategy which is contributing towards the transition to a low-carbon economy.”</p>
<p>Other lenders who provided funding included Bayerische Landesbank, New York Branch, Commonwealth Bank of Australia, Fifth Third Bank, National Association and Zions Bancorporation, N.A.</p>
<p>The company owns and operates over 7 GW of solar power plants globally which are either in operation or in different stages of construction.</p>
<p>Enfinity’s cumulative portfolio produces 1,175 GWh of renewable power every year, which is sufficient to provide up to 64,000 American households with electricity.</p>
<p>The clean power produced by the company can help mitigate 508,000 tons of carbon dioxide emissions equalling removing 110,000 cars off the road.</p>
<p>The company inked definitive agreement with <a href="https://www.capdyn.com/" target="_blank" rel="noopener">Capital Dynamics</a> last September to acquire a contracted portfolio comprising 28 operational solar photovoltaic power plants located in California, North Carolina, and Idaho. The projects generate a recurrent EBITDA of ~$45 million annually with investment-grade counterparties.</p>
<p>Last November, Enfinity Global <a href="https://mercomindia.com/daily-news-wrap-up-enfinity-adds-solar-capacity-india/" target="_blank" rel="noopener">added</a> 205 MW of solar capacity in India with the interconnection of 135 MW projects in Maharashtra. The company acquired six projects from Rays Power Infra in Telangana and Karnataka.</p>
<p>The company also <a href="https://mercomindia.com/project-finance-brief-enfinity-global-solar-projects-japan/" target="_blank" rel="noopener">raised</a> $242 million (~$¥29 billion) in long-term financing for three solar projects in Japan totaling 70 MW last year.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
</div></div><div class="clearfix"></div></div></div>

enfinity-global

Get the most relevant India solar and clean energy news.

RECENT POSTS