Enfinity Global, a independent power producer and leading renewable energy developer in Italy, has successfully secured €300 million in equity funding from ICG, the global alternative asset manager. This strategic investment is part of a broader agreement, with an additional €100 million in equity funding expected to close within a one-year period.
The definitive agreements for this significant investment were signed on September 6th by ICG and Enfinity Global. This infusion of funds is earmarked to support Enfinity's near-term growth initiatives and the execution of its comprehensive business strategy, reinforcing its position in the renewable energy sector.
The successful closing of this investment follows the necessary regulatory approvals, marking a key milestone in Enfinity Global's journey.
Enfinity Global aims to leverage this substantial funding to strengthen its balance sheet and expedite the completion of its ambitious 20GW portfolio, which includes 8GW of energy storage assets. Presently, the company boasts 1GW of operational assets worldwide, signifying its status as one of the fastest-growing independent power producers in the industry.
ICG Infra, the infrastructure investment arm of ICG, will collaborate closely with Enfinity's management team to oversee the existing projects for the long term, while also providing support for both organic and inorganic expansion endeavors.