Enfinity Global Inc., a leading renewable energy and sustainability services company, has announced the $1 billion acquisition of a 250 MW solar photovoltaic portfolio in Japan. Enfinity Global’s platform in Japan will be consolidated as a result of this acquisition, allowing the company to expand further in the country.
The acquisition includes three large-scale solar power facilities which are already operational, while five more are in the planning stages across Japan. Currently, there are 70 MW of operational plants. A total of 180 MW is being built, with 80 MW expected to be operational in 2022 and 100 MW in 2023. With this acquisition, Enfinity Global’s platform in Japan currently stands at 281 MW, spread over nine owned and managed feed-in-tariff projects.
In September 2021, Enfinity Global Inc., and CarVal Investors entered into a $300 million loan facility to facilitate the development of Enfinity’s 3 GW renewable energy portfolio. Enfinity reported that the facility aligns sustainable investment guidelines with the execution capabilities required to be a leader in the net-zero carbon economy.
REGlobal’s Views: This large acquisition provides the Europe-headquartered Enfinity a sizable portfolio in Japan allowing the company to strengthen its position in this fast growing solar market.