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Enfinity Global closes $195 million of long-term financing for a 70 MW operational solar power plant in Japan

By April 26, 2024No Comments

Tokyo (Japan), 26 April 2024.- Enfinity Global Inc., a leader in renewable energy, has secured $195 million (¥29.2 billion) in long-term financing for a 70 MW solar power plant in Japan. Nomura Securities International Inc., a global financial institution, acted as initial lead arranger/sole bookrunner and Aozora Bank, one of the leading Japanese commercial banks, acted as lead arranger/agent.

Located in Aomori Prefecture in northern Japan, this recently completed solar power plant is expected to produce more than 75 GWh of clean energy annually, enough to supply 11% of Aomori City’s residential energy demand, or about 15,600 households, and offset 35,000 tons of CO2 emissions annually. The Aomori solar power plant stands out as a successful example of the effective utilization of bifacial solar panels in one of the world’s snowiest cities.

This newly operational solar power plant is part of the 250 MW solar PV portfolio owned by Enfinity Global in Japan, where the company is positioned as one of the industry leaders.

“We are committed to supporting Japan’s plan to become carbon neutral by 2050 by leveraging our global capabilities and being a long-term investor. We appreciate the confidence of our financing partners, Nomura and Aozora”, said Carlos Domenech, CEO of Enfinity Global. “Japan is at an inflection point where clean energy has become a competitive necessity”.

“Nomura is excited to provide a bespoke financing solution to support Enfinity Global in its goal of helping Japan reach carbon neutrality”, said Vinod Mukani, Head of Nomura’s Infrastructure and Power Business (IPB). “Nomura is delighted to support and provide liquidity to its clients, particularly those like Enfinity Global who have experienced and talented teams and an attractive business strategy which is contributing towards the transition to a clean energy economy.”

“Aozora is pleased to have the opportunity to support Enfinity Global’s solar projects in Japan”, said Hiroki Nakazato, Managing Executive Officer, Head of Environment Business Group. “Aozora will continue to focus on financing that supports our customers’ initiatives to develop renewable energy and the energy transition for a carbon-free economy.”

About Enfinity Global

Enfinity Global Inc., together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2018. The company owns a portfolio of 22.4 GW of renewable energy and storage projects, including operational assets, under construction, and in different stages of development. With offices across US, Europe, Japan, and India, the company aims to make a significant contribution to a sustainable net zero carbon economy. Enfinity’s leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets. www.enfinity.global/ Follow Enfinity Global on LinkedIn

About Nomura

Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.

About Aozora Bank Group

Aozora Bank Group is a unique financial group that operates and develops its business nationwide and global. Our mission as finance professionals is “to contribute to the development of society through the creation of new value-added financial services” and, through the contribution to the well-being of all of our stakeholders including environment, society, customers, shareholders, and our employees, seek to create social and economic value.

Aozora aims to realize new business creation, collaborating with regional financial institutions across Japan and a wide variety of business partners. In order to better service its retail and corporate customers, Aozora leverages its expertise across group companies providing services such as overseas subsidiaries, internet banking, loan servicing, securities, research institutes, investment trusts, real estate investment advisory, M&A advisory, and corporate investment. For more information about Aozora, please visit: www.aozorabank.co.jp

Important Notice

This press release contains projections and pro forma financial information based upon assumptions which are inherently uncertain and unpredictable. Actual results may differ materially from those discussed in, or implied by, the statements in this press release. This press release and any projections or pro forma information contained herein represent only our management’s current estimates as of the date of this release and have not been subject to independent audit. We assume no duty to update the information contained in this press release. We make no representation or warranty as to the accuracy or completeness of the information contained in this press release.