Enfinity Global acquires 250MW solar portfolio in Japan

The acquired solar plants has an enterprise value of $1b.

Renewable energy and sustainability services firm Enfinity Global, Inc. acquired a 250-megawatt (MW) solar photovoltaic portfolio in Japan which has an enterprise value of $1b and included three operational large-scale solar plants and five projects under construction.

In a statement, Enfinity said the operational plants have a 70MW capacity, whilst the 180MW are under construction, with 80MW targeted to operate this year and the remaining capacity in 2023.

This acquisition brings Enfinity’s platform in Japan to 281MW in nine owned and managed projects operating under the feed-in-tariff programme.

“The acquisition of this portfolio consolidates Enfinity’s positioning as one of the leaders in Japan’s renewable market. We believe the market will grow significantly to support Japan’s ambitious 2050 decarbonisation target,” Enfinity Global CEO  Carlos Domenech said

“Our team’s expertise places Enfinity in an excellent position to play an important role in this new scenario,” he added.

Enfinity said investment firm PAG participated in the investment, whilst Nomura served as the sole lead arranger and bookrunner for project financings in the portfolio