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MIAMI, March 19, 2024 /PRNewswire/ -- Enfinity Global Inc., a leader in renewable energy, today announced the successful completion of a minority sale in its 400 MW U.S. 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 PV power plants located in California, North Carolina, and Idaho.
Enfinity's plans to build its 11.6 GW proprietary pipeline in the U.S. 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 decarbonization 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".
About Enfinity Global
Enfinity Global Inc., together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2018. The company owns a portfolio of 21.6 GW of renewable energy and storage projects, including operational assets, under construction, and in different stages of development. With offices across US, Europe, Japan, and India, the company aims to make a significant contribution to a sustainable net zero carbon economy. Enfinity's leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets. www.enfinity.global
Important Notice
This press release contains projections and pro forma financial information based upon assumptions which are inherently uncertain and unpredictable. Actual results may differ materially from those discussed in, or implied by, the statements in this press release. This press release and any projections or pro forma information contained herein represent only our management's current estimates as of the date of this release and have not been subject to independent audit. We assume no duty to update the information contained in this press release. We make no representation or warranty as to the accuracy or completeness of the information contained in this press release.
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