Enfinity Global Inc. (EG) has completed the acquisition of a 400 MW operational utility-scale solar portfolio from Capital Dynamics, consisting of 28 projects located in California, North Carolina and Idaho.
“We are thankful for the opportunity to work with Capital Dynamics with the support of our investment partners,” comments Carlos Domenech, CEO of Enfinity Global. “The U.S. 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.”
The portfolio reached COD within the last five years and holds long-term power purchase agreements with investment-grade utility off-takers. It produces 1,175 GWh of electricity per year.
“We are grateful for the trust shown by our financing partners, Nomura and AB CarVal,” says Ricardo Díaz, CEO of the Americas of Enfinity Global. “We will continue to expand our presence in the U.S. market by executing our 1.6 GW proprietary pipeline of projects and pursuing further investment opportunities both in M&A transactions and agreements with renewable energy developers.”
Funds managed by AB CarVal, an established global alternative investment manager, and Nomura, a global financial institution, acted as co-financing partners to Enfinity Global.
Enfinity Global was advised on this transaction by an advisory team from CCA Capital LLC and a legal team at McDermott Will & Emery LLP. Other lenders who provided funding at closing included Bayerische Landesbank, New York Branch, Commonwealth Bank of Australia, Fifth Third Bank, National Association, Zions Bancorporation N.A.
