On Thursday, September 4, Enfinity Global, a US-based renewable energy firm, announced the successful financial closing of EUR 316 million for eight utility-scale solar power plants in Italy. These projects, totaling 276 MW, are strategically situated in Emilia Romagna, Basilicata, and Lazio, and are anticipated to be fully operational by the end of 2026.

The financing package was structured through a club deal with ING, Rabobank, and BNP Paribas acting as Mandated Lead Arrangers, Lenders, Original Hedging Counterparties, and Green Loan Coordinators.

Impact on Italy’s Clean Energy Transition

Once operational, the solar portfolio is expected to generate approximately 403 gigawatt-hours (GWh) annually, equivalent to powering around 150,000 Italian households. This will reduce around 109,000 tons of CO2 emissions per year, reinforcing Italy’s clean energy goals. Carlos Domenech, CEO of Enfinity Global, stated, “We are proud to partner with Rabobank, BNP Paribas, and ING to continue accelerating the energy transition in Italy.

This validates our long-term vision to deliver cost-competitive renewable energy, attract investment, and create new jobs in the country.”

Financing Package Details

The funding includes EUR 214 million in non-recourse senior debt along with EUR 101 million in additional facilities covering VAT, letters of credit (LCs) for power purchase agreements (PPAs), PV modules, and decommissioning obligations.

Strengthening Market Position in Italy

This deal is Enfinity’s largest project financing to date in Italy and adds to its EUR 1.3 billion raised in the market over the last two years. The company is advancing an 8 GW pipeline of solar and storage projects in Italy, with 564 MW already under construction in Lazio and Emilia-Romagna. Enfinity also leads the country’s solar PPA market, having signed 805 MW of long-term agreements with industrial, corporate, and utility off-takers.

Julio Fournier Fisas, General Manager for Europe at Enfinity Global, noted: “This financing expands our presence in regions with high energy demand and supports our strategy of producing energy closer to consumption centers to serve industrial and corporate clients more effectively.”

Bank Perspectives on the Deal

BNP Paribas described the partnership with Enfinity Global as a landmark financing that supports the deployment of large-scale renewable energy projects in one of Europe’s most dynamic markets. ING highlighted that this transaction marks its third mandate with Enfinity Global in Italy, underscoring the strong collaboration between the two companies and aligning with ING’s global commitment to grow its renewable lending to EUR 7.5 billion annually by 2025.

Rabobank also praised the successful financial close, emphasizing its close cooperation with Enfinity and reaffirming its ambition to be a leading player in the renewable energy sector worldwide while further expanding its footprint in Italy.

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