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:

www.enfinity.global 

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

www.nomura.com .

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