Enfinity Global consolidates platform in Japan through the acquisition of 250 MW solar portfolio
PR94566
TOKYO, Feb. 17, 2022 /PRNewswire=KYODO JBN/--
- The portfolio includes 70 MW of operating assets across three PV plants, and
180 MW under construction across five PV plants, all operating under the Feed
in Tariff program
- The total enterprise value of the portfolio at acquisition was $1 billion
- Enfinity Global plans to continue its growth in Japan´s renewable energy
market in 2022
Enfinity Global Inc., a leading renewable energy and sustainability services
company, announced today the acquisition of a 250 MW solar photovoltaic
portfolio in Japan with an enterprise value of $1 billion. This acquisition
consolidates Enfinity Global's platform in Japan and positions the company for
further expansion in the country.
One of the solar power plants acquired by Enfinity Global in Japan
The acquisition includes three operational large-scale solar power plants and
five projects currently under construction throughout Japan. The operational
plants currently total 70 MW. 180 MW are under construction, with 80 MW planned
to reach operations in 2022 and 100 MW in 2023. With this addition, Enfinity
Global's platform in Japan stands at 281 MW across nine owned and managed
projects, which operate under the Feed in Tariff program.
"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 decarbonization target. Our
team's expertise places Enfinity in an excellent position to play an important
role in this new scenario", said Carlos Domenech, CEO of Enfinity Global.
Peter Hennessy, Enfinity Global's VP of Business Development, added, "Over the
last 7 years, members of our team have been developing these nine projects by
successfully combining our local capabilities with global know-how. This
acquisition reflects our long-term commitment to Japan."
PAG, one of the largest investment firms in Asia, participated in the
investment. Nomura served as sole lead arranger and bookrunner for project
financings in the portfolio.
"Nomura is excited to support and provide liquidity to Enfinity Global as it
consolidates its platform in Japan and prepares for future growth globally,"
said Vinod Mukani, Head of Nomura's Infrastructure and Power Business (IPB),
"Nomura is delighted to develop solutions for 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 low carbon
economy."
Japan currently ranks 6th worldwide in cumulative installed renewable power
capacity and is committed to carbon neutrality by 2050. To this end, the
national government recently approved the 6th Strategic Energy Plan that aims
to cut greenhouse gas emissions by 46% and increase renewable energy to 36%-38%
of power supplied by 2030. Japan's cumulative installed PV capacity is targeted
to reach 150 GW by 2030 from 67GW in 2020. (Sources: Japanese Ministry of
Economy Trade and Industry and IRENA)
About Enfinity Global
Enfinity Global Inc., together with its subsidiaries, is a leading renewable
energy and sustainability services company. As a global renewable energy
solutions platform, it focuses on developing, financing, building, operating
and owning renewable energy assets. With offices across North America, Asia and
Europe, the company develops sustainable solutions that help achieve
zero-carbon footprints and enable a smooth transition to a carbon-free economy
worldwide. For more information about Enfinity Global, please visit:
About PAG
PAG is a leading Asia-focused private investment manager, with strategies
including private equity, credit & markets, and real estate. PAG employs more
than 200 investment professionals in 11 key offices, and currently manages
US$45 billion in capital on behalf of institutional investors from Europe,
North America, Asia, Australia and the Middle East. For more information,
please visit www.pag.com
About Nomura
Nomura is a global financial services group with an integrated network spanning
over 30 countries and regions. By connecting markets East & West, Nomura
services the needs of individuals, institutions, corporates and governments
through its three business divisions: Retail, Wholesale (Global Markets and
Investment Banking), and Investment Management. Founded in 1925, the firm is
built on a tradition of disciplined entrepreneurship, serving clients with
creative solutions and considered thought leadership. Nomura's Infrastructure
and Power Business ("IPB") provides a diverse pool of financing solutions to
project owners globally. For further information about Nomura, visit
Important Notice
This press release contains projections and pro forma financial information
based upon assumptions which we believe to be reasonable, but 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.
Photo - https://mma.prnewswire.com/media/1748468/Enfinity_Global_plants.jpg
Source: Enfinity Global
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