Renewable-energy company Enfinity Global has closed €118 million ($129 million) in financing for the construction of four utility-scale solar plants, totaling 101 megawatts, located in the region of Lazio, Italy.
UniCredit, BayernLB and Siemens Financial Services, through Siemens Bank, acted as mandated lead arrangers for each project financing through a club deal structure. The financing will provide €77 million ($84 million) of nonrecourse senior debt, €41 million ($45 million) of VAT financing and LC facilities for power–purchase agreements and PV modules.
“We are delighted to partner with UniCredit, BayernLB and Siemens Bank for this initial set of projects as we build our existing 4-gigawatt portfolio in Italy,” said Carlos Domenech, CEO of Enfinity Global. “We are pleased to bring competitive clean energy to Italy in support of the country’s net energy needs and carbon emission–reduction targets.”
The four solar plants are expected to p