Enfinity Global completes minority sale of US operating portfolio
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
Enfinity Global Inc. has announced the successful completion of a minority sale in its 400 MW US operating portfolio to Kyushu Electric Power Co. Inc. (Kyushu Electric), a leading Japanese utility. Kyushu Electric has now a 40% equity interest in this portfolio, while Enfinity Global retains 60% and serves as the long-term asset manager of the portfolio.
In September 2023, Kyushu Electric and Enfinity Global signed a definitive agreement for this deal which includes 28 operational solar photovoltaic (PV) power plants located in California, North Carolina, and Idaho.
Enfinity’s plans to build its 11.6 GW proprietary pipeline in the US over the next few years and pursue further investment opportunities both in M&A transactions and agreements with renewable energy developers. The company recently announced the acquisition of 546 MW of solar assets under development from CS Energy in Colorado.
“Our strategy is to partner with investors such as Kyushu Electric that share similar long-term values and goals in the energy markets where we operate”, said Carlos Domenech, CEO of Enfinity Global. “Enfinity is a natural partner for investors looking for scale in renewable energy, addressing decarbonisation targets, and obtaining attractive returns while having a reliable operational partner on the ground. We are grateful for the trust Kyushu Electric has placed in Enfinity Global.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2024 issue
The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.
Read the article online at: https://www.energyglobal.com/solar/20032024/enfinity-global-completes-minority-sale-of-us-operating-portfolio/
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