Renewable energy developer Enfinity Global has secured a bond facility of up to €100 million from Eiffel Investment Group to support the development of its energy storage and solar photovoltaic (PV) projects across Europe, the company said on Tuesday.
The financing, provided through four investment vehicles managed by Eiffel, marks the first time Enfinity has secured dedicated funding for its battery energy storage systems (BESS) portfolio in Europe.
The funding will help advance a 6.4-gigawatt (GW) pipeline of battery storage projects, including 5.1GW in Italy and 1.3GW in the United Kingdom.
“We are thankful to Eiffel Investment Group for supporting the growth of our Italian platform,” said Carlos Domenech, chief executive of Enfinity Global. “The future of competitive low carbon energy solutions relies on innovation of technologies and financings supported by market leaders.”
Energy storage plays a central role in Enfinity’s strategy to deliver around-the-clock renewable power to corporate and industrial users, while contributing to the stability of Europe’s electricity grids.
Pierre-Antoine Machelon, head of infrastructure funds at Eiffel Investment Group, said: “We are proud to support Enfinity Global in its growth. Building a long-term relationship while structuring a tailor-made financing is at the heart of Eiffel DNA. This transaction highlights our commitment to providing financial solutions to accelerate the decarbonization in Europe.”
The agreement brings Enfinity Global’s total secured funding for its European operations to €865 million, sourced from a combination of junior and senior debt structures.
“Enfinity Global continues to expand its renewable energy footprint, leveraging our expertise to accelerate the clean energy transition while delivering reliable and cost-effective solutions for the European market,” said Julio Fournier Fisas, general manager for Europe. “We appreciate partners like Eiffel Investment Group who share our vision for the future of energy.”
