Enfinity Global Acquires 546-MW Of Solar Assets

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American renewable energy conglomerate Enfinity Global has announced the acquisition of 546 MW of solar assets in Colorado. The solar assets are currently under development by CS Energy.

As per the official statement issued by Enfinity Global, the acquisition portfolio consists of three solar projects developed in Colorado, an attractive solar market mandating 100% renewable energy generation by 2050. The portfolio complements Enfinity’s existing development presence in WECC and will be integrated in the in-house development processes and team.

It is expected to generate recurrent EBITDA of approximately $59 million per year with investment grade counterparties. The portfolio is expected to start construction in the next two years, and once operational it will produce 1,054 GWh of clean electricity per year.

Enfinity Global sys that the clean energy produced will be enough to power up to 57,000 US households, and is equivalent to taking 101,500 cars off the road.

Ricardo Díaz, CEO Americas of Enfinity Global, said, “Our long-term ownership business model allows us to partner with relevant investors, stakeholders, and customers, aligning capabilities that create a zero-carbon future and benefit the communities in which we participate. We will continue committed to develop additional projects in Colorado.”

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“We take great pride in developing high quality utility-scale assets and are enthusiastic about our ongoing commitment to building a clean sustainable future while nurturing valuable partnerships such as this one”, said Eric Millard, CCO of CS Energy.

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Enfinity Global is one of the fastest growing renewable energy independent power producers, with an existing global portfolio of over 17 GW that includes 7.3 GW of energy storage assets and 1 GW of operational assets. In the US, the company operates a portfolio of 400 MW and 28 solar PV power plants in the states of California, Idaho and North Carolina.

It also owns 6 GW of solar and storage assets under development in different States. In the last year, the company has been able to raise $380 million USD of capital in the US.