Spanish renewable energy company Enfinity Global has reached a definitive agreement with Capital Dynamics to acquire a 400MW utility-scale solar project portfolio in the US.
The financial details of the deal have not been disclosed.
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Enfinity Global CEO Carlos Domenech said: “Our long-term ownership business model allows us to partner with relevant investors, stakeholders and customers, aligning capabilities that create a zero-carbon future.
“Our ability to deploy operational expertise across the entire renewables value chain, coupled with our international presence, translates into value creation for our investors and customers.”
The solar portfolio consists of 28 operational solar photovoltaic (PV) power plants located across various states, including California, North Carolina and Idaho.
These projects have reached commercial operation dates (CODs) within the last five years and have long-term power purchase agreements (PPAs) in place with utility off-takers.
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By GlobalDataEnfinity currently has more than 5GW of capacity in operation and under development across several energy markets.
Enfinity Global Americas CEO Ricardo Diaz said: “This transaction represents a unique opportunity to acquire a high-quality, geographically diversified portfolio of operating assets.
“We believe the US market will continue to consolidate, allowing long-term asset owners to grow rapidly and benefit from efficiencies.
“We will continue to pursue further investment opportunities in the US with top-tier partners.
“Our purpose is to create a fully integrated platform with a complete suite of in-house development, financing, construction, operations and asset management capabilities.
“To this end, I am happy to see that (Capital Dynamics) shares our vision and culture and are joining us.”
Enfinity Global develops, finances, builds, operates and owns renewable energy assets in Europe, Asia and the Americas.
In February this year, the company acquired a 250MW solar PV portfolio in Japan for a $1bn enterprise value.
The portfolio includes eight solar facilities, three of which are operational and five under construction.
