TOKYO and MIAMI, April 26, 2024 /PRNewswire/ -- Enfinity Global Inc., a leader in renewable energy, has secured $195 million (¥29.2 billion) in long-term financing for a 70 MW solar power plant in Japan. Nomura Securities International Inc., a global financial institution, acted as initial lead arranger/sole bookrunner and Aozora Bank, one of the leading Japanese commercial banks, acted as lead arranger/agent.
Located in Aomori Prefecture in northern Japan, this recently completed solar power plant is expected to produce more than 75 GWh of clean energy annually, enough to supply 11% of Aomori City's residential energy demand, or about 15,600 households, and offset 35,000 tons of CO2 emissions annually. The Aomori solar power plant stands out as a successful example of the effective utilization of bifacial solar panels in one of the world's snowiest cities.
This newly operational solar power plant is part of the 250 MW solar PV portfolio owned by Enfinity Global in Japan, where the company is positioned as one of the industry leaders.
"We are committed to supporting Japan's plan to become carbon neutral by 2050 by leveraging our global capabilities and being a long-term investor. We appreciate the confidence of our financing partners, Nomura and Aozora", said Carlos Domenech, CEO of Enfinity Global. "Japan is at an inflection point where clean energy has become a competitive necessity".
"Nomura is excited to provide a bespoke financing solution to support Enfinity Global in its goal of helping Japan reach carbon neutrality", said Vinod Mukani, Head of Nomura's Infrastructure and Power Business (IPB). "Nomura is delighted to support and provide liquidity to its clients, particularly those like Enfinity Global who have experienced and talented teams and an attractive business strategy which is contributing towards the transition to a clean energy economy."
"Aozora is pleased to have the opportunity to support Enfinity Global's solar projects in Japan", said Hiroki Nakazato, Managing Executive Officer, Head of Environment Business Group. "Aozora will continue to focus on financing that supports our customers' initiatives to develop renewable energy and the energy transition for a carbon-free economy."