Enfinity Global has announced plans to sell a 40 percent minority stake in its 400-megawatt U.S. operating portfolio to the Japanese utility Kyushu Electric Power Co. Financial terms were not disclosed.
In January, Enfinity Global acquired this contracted portfolio, consisting of 28 operational solar PV power plants located in California, North Carolina and Idaho. Enfinity Global, which will retain a 60 percent equity interest, will be the long-term asset manager of the portfolio.
“Kyushu Electric is an energy leader in Japan, and we are honored to be their long-term partner in this portfolio as we continue to rapidly grow,” said Carlos Domenech, CEO of Enfinity Global. “Our global footprint is a key enabler and differentiator as we bring strategic investors to attractive opportunities in growth markets.”
The deal will boost Enfinity’s expansion in the United States, where the company plans to execute its 11.3-gigawatt proprietary pipeline of projects