Sienna Investment Managers, a pan-European multi-expertise asset manager, has provided a seven-year €25 million ($27 million) asset company financing to Enfinity Global for the construction of a 134-megawatt solar portfolio in the Lazio region of Italy.
The portfolio, which consists of four large-scale solar power plants currently under construction, is scheduled to commission progressively starting in second quarter 2024.
Once operational, it will generate 225 gigawatt hours of clean energy annually, contracted with Statkraft through a 10-year solar power-purchase agreement. This amount of electricity is enough to power 85,000 Italian homes while offsetting 91,500 tonnes of carbon dioxide emissions. Enfinity Global previously announced €162 million ($174 million) in financing agreements for this portfolio with a pool of international banks.
This project is another financing from Sienna IM in Italy under its flagship fund Predirec ENR 2, managed by Sienna AM