Enfinity Global enters into $135M financing to build 1.2 GW of advanced solar and wind power plants in India

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MIAMI, May 16, 2024 PRNewswire -- Enfinity Global Inc., a leader in renewable energy, today announced that it has signed $135 million in financing for the development and construction of 1.2 GW of solar and wind projects in India.

The financing is being provided by Canada Pension Plan Investment Board through subsidiaries of CPPIB Credit Investments Inc.Enfinity Global operational solar power plant in India The projects in this portfolio, spread across five states , are in advanced stages of development and are expected to be commissioned between 2025 and 2026. Once interconnected, they are projected to generate 2.4 GWh of clean electricity annually, enough to power over two million Indian homes and offset 2.

This financing reiterates Enfinity's long-term commitment to India and its ability to attract foreign capital and promote local know-how to support national decarbonization targets. The company owns and operates a portfolio of 240 MW solar plants in India, with over 1.5 GWs under development. Over the next 3 years, Enfinity plans to develop and commission renewable power plants to supply over 5 GWh of clean electricity annually, including through Power Purchase Agreements .

 

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