New Delhi (Natural Energy News): Enfinity Global Inc., a prominent player in the renewable energy sector, has secured $135 million in financing to develop and construct 1.2 GW of advanced solar and wind power projects across India. The funding, provided by the Canada Pension Plan Investment Board (CPP Investments) through its subsidiary, CPPIB Credit Investments Inc., will propel Enfinity Global's ambitious green energy initiatives.
Renewable Energy Boost for Five Indian States
The projects, distributed across Maharashtra, Delhi, Karnataka, Rajasthan, and Uttar Pradesh, are in advanced stages of development. They are expected to come online between 2025 and 2026, generating 2.4 GWh of clean electricity annually. This output is sufficient to power over two million Indian homes and will significantly reduce carbon emissions by 2.6 million tons per year.
Carlos Domenech, CEO of Enfinity Global, expressed his enthusiasm, stating, "Renewable energy is at the core of India's economic growth plans as a key driver of competitiveness. Enfinity Global is delighted to partner with CPP Investments, one of the most respected global investors, in bringing clean energy to power India's future."
Strategic Partnership for Sustainable Growth
Solar and wind power are pivotal in India's renewable energy landscape. Geoffrey Souter, Managing Director and Head of Real Assets Credit at CPP Investments, highlighted the importance of this collaboration. "We are pleased to partner with Enfinity Global on these projects by providing long-term and flexible capital that we believe will offer a promising source of long-term returns for the CPP Fund," he said.
This financing underscores Enfinity Global's long-term commitment to India's renewable energy goals and its capability to attract substantial foreign investments. The company already owns and operates 240 MW of solar plants in India and has over 1.5 GW in development.
Future Plans and Diverse Energy Solutions
Enfinity Global's future plans include developing and commissioning renewable power plants to supply over 5 GWh of clean electricity annually within the next three years. This will be achieved through Power Purchase Agreements (PPAs) and other strategic initiatives. The company also aims to diversify its portfolio, venturing into energy storage, hybrid renewable energy production, green ammonia, water treatment, and other circular economy technologies.
Enfinity Global's comprehensive approach will support India's national decarbonization targets and contribute to global sustainability efforts. By integrating local expertise and advanced technology, the company aims to drive significant progress in the renewable energy sector.
About Enfinity Global
Founded in 2019, Enfinity Global Inc. is a leading US-based renewable energy and sustainability services company. With a portfolio of 22.4 GW of renewable energy and storage projects across the US, Europe, Japan, and India, the company is dedicated to fostering a sustainable, net-zero carbon economy. Enfinity's leadership team boasts extensive experience, having managed over $37 billion in financing for renewable energy projects and developed or acquired over 15 GW of solar and wind assets.
Enfinity Global's strategic vision and robust financial backing position it as a key player in the transition to renewable energy, making substantial contributions to both the Indian and global markets.
0 Comments