Enfinity Global has finalized a $97 million structured credit facility with Nomura to support a 608 megawatt (MW) solar portfolio in the United States. This portfolio includes both operational assets and those currently under construction, covering the CAISO, WECC, and SERC markets.
The asset-based credit facility will provide essential development and construction financing for Enfinity's projects that are ready to build, in addition to offering strategic refinancing for its operational fleet. There is also a potential provision for an upsize of the facility to $400 million to further enhance Enfinity's U.S. development and construction efforts.
Currently, Enfinity Global boasts a U.S. portfolio of 14.8 gigawatts (GW) of solar and energy storage, with land and interconnection agreements in place. The company is also negotiating an additional 33 GW of projects. Over the next 12 months, Enfinity expects to have more than 1 GW of solar and storage assets either operational or under construction in the U.S.
“Nomura has been a foundational financing partner to Enfinity in the U.S. and Japan as we accelerate the expansion of our global IPP platform,” said Enfinity Global chief executive Carlos Domenech. He added, “Nomura's model allows for flexibility in capital formation and deployment, thus creating momentum for our portfolio; we are grateful for their continued support.”
Vinod Mukani, global head of Nomura's infrastructure and power business, commented, “We are pleased to have another opportunity to partner with Enfinity as it continues to build on its track record of successful deployment of large-scale clean energy assets supporting the energy transition. We look forward to continuing to support Enfinity's ambitious growth in the industry.”
