Enfinity Global to partner with Kyushu Electric Power in its operational portfolio in the United States
MIAMI, Oct. 26, 2023 /PRNewswire/ -- Enfinity Global Inc., a leader in renewable energy, today announced a definitive agreement for a minority sale in its 400 MW U.S. operating portfolio to the Japanese utility Kyushu Electric Power Co. Inc. (Kyushu Electric). 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.
In January 2023, Enfinity Global acquired this contracted portfolio, consisting of 28 operational solar PV power plants located in California, North Carolina, and Idaho. Finding long-term, like-minded partners and adding them as new shareholders to portfolios around the world is part of Enfinity's capital formation strategy to accelerate growth and optimize returns.
"Kyushu Electric is an energy leader in Japan, and we are honored to be their long-term partner in this portfolio as we continue to rapidly grow", said Carlos Domenech, CEO of Enfinity Global. "Our global footprint is a key enabler and differentiator as we bring strategic investors to attractive opportunities in growth markets".
"This partnership leverages Enfinity's capabilities to structure, underwrite and finance renewable energy assets, as well as performing asset management and operation activities", commented Ricardo Díaz, CEO Americas of Enfinity Global.
This transaction will boost Enfinity's expansion in the US, where the company plans to execute its 11.3 GW proprietary pipeline of projects and pursue further investment opportunities both in M&A transactions and agreements with renewable energy developers. The company recently announced the acquisition of 546 MW of solar assets under development from CS Energy in Colorado.
Enfinity Global
Enfinity Global Inc., together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2018. The company owns a portfolio of 20 GW of renewable energy and storage projects, including operational assets, under construction, and in different stages of development. With offices across US, Europe, Japan, and India, the company aims to make a significant contribution to a sustainable net zero carbon economy. Enfinity's leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets.
SOURCE Enfinity Global
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