Enfinity Global has closed €118 million in financing for the construction of 101 MW in four utility-scale solar power plants located in the Lazio, Italy region.
UniCredit, BayernLB and Siemens Financial Services through Siemens Bank acted as mandated lead arrangers for each project financing through a club deal structure. The financing will provide €77 million of non-recourse senior debt, €41 million of VAT financing and LC facilities for PPAs and PV modules.
Production from these four plants is expected to translate into 172 GWh of clean electricity per year, enough to power 64,000 Italian homes and offset 69,000 tons of CO2 emissions, per the company.
“We are delighted to partner with UniCredit, BayernLB, and Siemens Bank for this initial set of projects as we build our existing 4 GW portfolio in Italy,” says Carlos Domenech, CEO of Enfinity Global. “We are pleased to bring competitive clean energy to Italy in support of the country’s net energy needs and carbon emission reduction targets.”
Enfinity Global is currently building four additional projects in Italy, totaling 134 MW for which it previously closed €165 million in financing.
“Financing plays a key role in bringing large-scale ventures to life, especially when investing in capital-intensive infrastructure like solar power plants,” says Siemens’ Siobhan Smyth. “Significant energy projects like this emphasize the critical role of well-structured financing solutions. We are proud to continue our support as a leading financer for renewables on the way to a more sustainable future.”
The plants are expected to become operational next year.
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Enfinity Global Secures Financing for Four Utility-Scale Solar Plants
It depends on what you believe.
Fox News will tell you that our southern border is no longer being overrun, that we’ve discovered that vaccinations are unsafe, that we’re standing up against Sharia Law, we’re preventing Iran from building a nuclear weapon, prices are coming down (or soon will be), Trump is an honest and effective servant of the American people and that the U.S. is once again respected on the world stage.
We live in a country where tens of millions of idiots believe every word of this.
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I met a guy today from a rural part of Central England–“nothing but farms and pubs,” as he put it. His father was an epidemiologist working for the United Nations, and so, as a boy, he lived all over the world and grew up largely in developing countries that suffered from horrific diseases.
He and his wife had the conversation one would expect from such people:
- Why are we so content to ignore climate change that is ruining our planet?
- Why are people so indifferent to the suffering of others?
- How is it possible that billionaires expect to live well here on Earth while 99.9% of us suffering with wildfires, devastating storms, blistering heat, losses of landmasses, and desertification?
- At the end of the day, is money really that precious?
Obviously, not everyone thinks this way, but to be in something of a “lovefest” for just a few minutes was a great relief.
relief.
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