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
I encourage readers to check out this tongue-in-cheek ad for plant-based meat.
There is a maxim in marketing warning against “promoting the enemy line,” this is so clever, I can see where it could be quite effective.
As we all know, the GOP will stop at nothing to win the midterms, thus making it impossible to remove the sociopathic criminal from the White House.
But did any of us see this coming?
Macabre.
I just met a woman who’s been a flight attendant for Delta Airlines since the early 1990s, who laments that her company has been ruined by corporate greed, which has trashed so many other things in our lives.
As it turns out, the CEO makes more than $20 million per year, largely based on bonuses associated with cutting costs. “Now we have tray tables that don’t work and seatbacks that don’t recline, and nobody even thinks about fixing them.”
She went on, “This shift has been particularly obvious in the case of Delta, which, when I started with them, was known for its southern charm and the feeling of welcoming its passengers. Now, that gone. It’s like it never existed.”
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