MIAMI, Oct. 26, 2023 /PRNewswire/ -- Enfinity Global Inc, a leader in renewable energy, today announced an agreement to sell a minority stake in its operating U.S. solar portfolio to Japanese utility Kyushu. Electric Power Co. Inc. (Kyushu Electric). Once the operation is completed, Kyushu Electric will have a 40% stake in the 400 MW portfolio, while Enfinity Global will retain 60% and will be responsible for managing the assets.
In January 2023, Enfinity Global acquired this portfolio of assets, consisting of 28 photovoltaic solar power plants located in the states of California, North Carolina and Idaho. The identification of strategic partners and their incorporation as minority shareholders in their project portfolios is part of Enfinity Global's long-term capital formation strategy to accelerate its growth and optimize the company's profitability.
"Kyushu Electric is a leading energy company in Japan, and we are honored to be their partner in this portfolio of projects as we continue to grow rapidly," comments Carlos Domenech, CEO of Enfinity Global. "Our global presence is a key and differentiating element when it comes to attracting strategic investors to relevant business opportunities in growing markets."
"This alliance highlights our ability to structure and finance renewable energy assets, as well as their management and operation," comments Ricardo Díaz, CEO of Enfinity for America.
This operation will boost Enfinity's expansion in the US, where the company plans to execute its own portfolio of 11.3 GW of projects and seek new investment opportunities, both through acquisitions and agreements with renewable energy developers. Enfinity recently announced the acquisition of 546 MW of solar energy projects in development from CS Energy in the state of Colorado.
Enfinity Global
Enfinity Global Inc. is a leading American company in the renewable energy and sustainability sector created in 2018. The company owns a portfolio of more than 20 GW of renewable energy production and storage projects, which includes plants in operation, construction and in different phases of development. With offices in the United States, Europe and Asia, the company seeks to contribute to the transition towards a sustainable economy neutral in CO2 emissions. Enfinity Global's management team, one of the most experienced in the industry, brings more than $37 billion of financing experience in the renewable energy sector and more than 15 GW of solar and wind assets developed and acquired.
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