Major Investment in Renewable Energy
Enfinity Global Inc., a leader in renewable energy, has announced a $135 million financing deal to develop 1.2 GW of advanced solar and wind power plants in India. The financing is provided by the Canada Pension Plan Investment Board (CPP Investments) through its subsidiaries. This significant investment aims to boost India’s solar energy market and enhance its renewable energy infrastructure.
Expanding Solar and Wind Power
The projects, spread across Maharashtra, Delhi, Karnataka, Rajasthan, and Uttar Pradesh, are in advanced stages of development. They are expected to be operational between 2025 and 2026. Once completed, these plants will generate 2.4 GWh of clean electricity annually, enough to power over two million homes and offset 2.6 million tons of CO2 emissions. This initiative supports India’s green energy policies and national decarbonization targets.
Strategic Partnerships and Future Plans
Carlos Domenech, CEO of Enfinity Global, emphasized the importance of renewable energy in India’s economic growth. He expressed delight in partnering with CPP Investments, a respected global investor, to bring clean energy to India. Geoffrey Souter, Managing Director at CPP Investments, highlighted India’s strong pipeline for solar and wind opportunities and expressed confidence in the long-term returns for the CPP Fund.
Commitment to Sustainability
This financing underscores Enfinity’s long-term commitment to India. The company currently owns and operates a portfolio of 240 MW solar plants in India, with over 1.5 GW under development. Over the next three years, Enfinity plans to develop and commission renewable power plants to supply over 5 GWh of clean electricity annually through Power Purchase Agreements (PPAs).
Enfinity also aims to diversify its business by delivering other net-zero solutions, including energy storage, hybrid renewable energy production, green ammonia, water treatment, and other emerging circular economy technologies.
About Enfinity Global
Enfinity Global Inc., established in 2019, is a US-based renewable energy and sustainability services company. It owns a portfolio of 22.4 GW of renewable energy and storage projects, including operational assets, projects under construction, and those in various stages of development. With offices in the US, Europe, Japan, and India, the company aims to significantly contribute to a sustainable net-zero carbon economy. Enfinity’s leadership team has extensive experience, bringing over $37 billion in financing in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets.
By securing this substantial financing, Enfinity Global is poised to make a significant impact on the energy market trends in India, promoting sustainable development and advancing solar technology. This investment not only supports India’s energy storage and solar energy investment goals but also aligns with global green energy policies and market analysis projections.
Enfinity’s proactive approach and strategic partnerships highlight its dedication to driving forward the renewable energy sector and ensuring a greener future for India and beyond.
Source：prnewswire.com
