Enfinity Global Plans Construction of Four Solar Power Plants in Italy

05 Dec, 2023

Enfinity Global Plans Construction of Four Solar Power Plants in Italy

Enfinity Global, a leading renewable energy firm headquartered in Waregem, Belgium, has finalized a €118 million ($128.2 million) deal to erect four large-scale solar power facilities in Lazio, Italy. These plants will be supported through a club deal structure, facilitated by UniCredit, BayernLB, and Siemens Financial Services via Siemens Bank, acting as mandated lead arrangers for each solar installation.

The collective output from these four plants will reach 172GWh annually, capable of powering approximately 64,000 households and mitigating 69,000 tons of CO2 emissions.

Carlos Domenech, CEO of Enfinity Global, expressed enthusiasm regarding the partnership with UniCredit, BayernLB, and Siemens Bank, underscoring the significance of these initial projects as part of their ongoing expansion of the 4GW portfolio in Italy. He emphasized the company's commitment to supplying competitive clean energy, aligning with Italy's energy requirements and carbon reduction goals.

Italy, heavily reliant on fossil fuels, aims to achieve a 30% renewable energy consumption by 2030, as outlined by the Italian Ministry of Energy. Despite the current predominance of fossil fuels, Italy has witnessed substantial growth in renewable energy production, reaching 116.4 billion kWh in 2022, according to GlobalData experts.

This burgeoning renewable energy market in Italy has attracted foreign investors. Notably, Solitek, a Lithuanian solar module manufacturer, announced intentions to establish its inaugural overseas production facility in Benevento, southern Italy, signaling continued investor confidence in the Italian market.

Enfinity Global's CEO for Europe, Julio Fournier Fisas, highlighted plans for a €3 billion investment over the next three years in Italy. Fournier reiterated Italy's status as a pivotal strategic market for the company, expressing intentions to expand their portfolio through internal development, collaborative agreements, and acquisitions.