Spanish renewable energy company Enfinity Global has secured connectivity for 2GW of utility-scale solar photovoltaic (PV) and wind projects in India, expanding its renewable energy portfolio.
The projects, located in the states of Rajasthan, Uttar Pradesh, Maharashtra and Karnataka, can power 4.7 million households.
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They will contribute to a reduction of 49 million metric tonnes (mt) of CO₂ emissions annually. The generated power will be supplied to government utilities and commercial and industrial (C&I) clients.
Enfinity Global’s renewable energy presence in India is growing, with 3.3GW of projects at various stages of development. This includes 240MW that are already operational, the 2GW that have been granted connectivity and an additional 1GW of solar PV, wind, and energy storage projects in the pipeline.
The company also recently secured a 300MW solar-wind hybrid project through competitive bidding in the fourth quarter of 2024.
Enfinity Global CEO Carlos Domenech stated: “This milestone underscores our commitment to accelerating India’s renewable energy transition, with the aim of contributing to its ambitious goal of deploying 500GW of non-fossil fuel energy capacity by 2030.
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By GlobalData“Our global presence enables us to create capital and operational synergies, and when combined with our local capabilities, it positions us as a strategic and reliable partner for the long-term energy needs of our customers in India.”
Enfinity Global aims to develop and commission power plants that will deliver more than 5 gigawatt hours (GWh) of renewable electricity annually by 2028. It is also focusing on securing power purchase agreements (PPAs) with C&I customers, engaging with financial partners nationally and internationally to secure the capital required for these initiatives.
Enfinity Global closed a $135m junior financing agreement with the Canada Pension Plan Investment Board (CPP Investments) in May 2024. This agreement is intended to bolster the development and construction of solar and wind projects throughout India.
