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Enfinity Global Inc. secures $135 mn financing with CPP Investments

2024-05-17

Enfinity Global Inc. has finalised a $135 million financing agreement with the Canada Pension Plan Investment Board (CPP Investments) for the development and implementation of 1.2 gigawatts (GW) of solar and wind projects spanning five Indian states.

"The projects in this portfolio, spread across five states (Maharashtra, Delhi, Karnataka, Rajasthan and Uttar Pradesh), are in advanced stages of development and are expected to be commissioned between 2025 and 2026," the company said in a statement.

Carlos Domenech, CEO, Enfinity Global, highlighted the significance of renewable energy in India's economic growth strategy and expressed enthusiasm about partnering with CPP Investments, a globally recognised investor, to drive clean energy initiatives in India.

Geoffrey Souter, Managing Director and Head of Real Assets Credit at CPP Investments, emphasised the importance of solar and wind power in India's energy landscape and acknowledged the country's robust pipeline for such opportunities. He expressed satisfaction in collaborating with Enfinity Global, providing long-term and adaptable funding that is expected to yield promising returns for the CPP Fund.

This collaboration reaffirms Enfinity Global's dedication to India's renewable energy sector, where it already possesses a portfolio of 240 MW solar plants and has over 1.5 GWs under development. (Source: ET Energy)