Enfinity Global, a Spanish renewables developer, has bought a portfolio of solar assets under development with a total capacity of 546 MW in the US state of Colorado from CS Energy. The portfolio has three solar projects in Colorado, a state which plans to generate 100 per cent renewable energy by 2050. The projects will support the company’s existing development presence in the Western Electricity Coordinating Council.
Reportedly, construction on the portfolio is anticipated to begin in the next two years. The solar plants will be able to generate enough clean energy to meet the electricity demands of up to 57,000 US homes annually after being operational. The contract will also help Enfinity to further implement its long-term business plans in the US.
In January 2023, Enfinity Global purchased Capital Dynamics’ 400 MW utility-scale solar portfolio in the US. The deal, which was first disclosed in September 2022, included 28 operational solar energy-generating facilities spread across California, North Carolina, and Idaho. The portfolio produced 1,175 GWh of renewable energy a year, enough to power up to 64,000 homes while removing 508,000 tonnes of carbon dioxide from the atmosphere.
REGlobal’s Views: Enfinity Global already has 6 GW of solar and storage assets under development in various parts of the US and the company is focusing on acquiring quality project portfolios in order to rapidly expand its project capacity. The US has become one of the most attractive renewable energy markets worldwide after the passing of the Inflation Reduction Act and many deep-pocketed renewable energy developers are focusing on gaining large market shares here.
