ICG Infra, the infrastructure arm of global alternative asset manager ICG, is investing €400 million ($439 million) in Enfinity Global, a major renewable-energy developer in Italy.
With 1 gigawatt of operational assets globally, Enfinity is one of the fastest-growing independent power producers. The capital injection will fund Enfinity’s near-term growth and the execution of its business strategy, bolstering the company’s balance sheet and accelerating the completion of its 17-gigawatt portfolio.
ICG provides flexible capital solutions to help companies develop and grow. The company operates across four asset classes: structured and private equity, private debt, real assets, and credit.
ICG said the investment further underpins ICG Infra’s strategy of investing in market-leading businesses within the renewable-energy sector in Europe and the United States, which have an active role in supporting the transition to net zero.
“We are excited to be partnering with Enfinity, a market-leading solar energy company, with a clear vision of supporting the transition to a net-zero carbon economy,” said Guillaume d’Engremont, head of infrastructure at ICG. “The investment underpins our approach of supporting entrepreneurial and visionary founders who are committed to making meaningful contributions to a more sustainable economy.”