Kyushu Electric acquires 400 MW US operating portfolio from Enfinity Global

Enfinity Global maintains ownership of 60% of company assets.

Kyushu Electric Power Co. Inc. (Kyushu Electric) completed the purchase of the 400 MW US-operating portfolio of US-based renewable energy company Enfinity Global Inc.

Through the acquisition, Kyushu Electric has gained a 40% equity interest in the portfolio, whilst Enfinity Global retained 60%, serving as long-term asset manager.

In addition, the definitive agreement between both entities includes 28 operational solar PV power plants located in California, North Carolina, and Idaho.

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Enfinity has planned to expand to an 11.6 GW proprietary pipeline in the US over the next few years and conduct future investment opportunities in M&A transactions and agreements with energy developers.

“Our strategy is to partner with investors such as Kyushu Electric that share similar long-term values and goals in the energy markets where we operate. Enfinity is a natural partner for investors looking for scale in renewable energy, addressing decarbonisation targets, and obtaining attractive returns while having a reliable operational partner on the ground,” Carlos Domenech, CEO of Enfinity Global, said.