Enfinity Global Inc. has finalized EUR142 million (US$151 million) financing for the development of 112 MW in three utility-scale solar power projects in Italy.
Santander Corporate & Investment Banking (Santander CIB) and BayernLB financed two 72 MW power facilities, and Nomura financed a 40 MW tranche. These institutions have been mandated lead arrangers for each project financing using a club transaction structure that includes EUR85 million (US$90.4 million) of non-recourse senior debt financing, EUR57 million (US$60.6 million) of VAT financing, and LC facilities (PPA and PV modules).
The 112 MW portfolio located in Lazio will be online in the first half of 2024. These solar power plants will provide 191 GWh of clean electricity and will power 71,000 houses and offset 76,500 tons of CO2 emissions, equivalent to 3,500 mature trees.
