Enfinity Global, a major renewable-energy developer in Italy, has raked in €300 million ($318 million) in equity funding from ICG, a global alternative asset manager that provides flexible capital solutions to help companies develop and grow.
As part of the broader agreement, which was first announced in September, an additional €100 million ($106 million) of equity funding is expected to close within a one-year period. The closing comes after the required regulatory approval for the transaction.
ICG manages some $82.1 billion of assets and invests across the capital structure. This investment will bolster Enfinity Global’s balance sheet to accelerate the completion of its 20-gigawatt portfolio, including 8 gigawatts of energy storage assets. With 1 gigawatt of operational assets globally, the company is one of the fastest growing independent power producers. ICG Inf