Monthly Report

Enfinity Global secures $164 million financing for 250MW solar portfolio from Macquarie and Shinhan-led syndicat

July 11, 2024
Enfinity Global Aomori Power Plant
Earlier this year, Enfinity Global also secured $195 million for a solar power plant in Aomori. (Image: Enfinity Global)

Enfinity Global secured $164 million financing from Macquarie Capital and a syndicate led by South Korea’s Shinhan Asset Management for a 250MW solar portfolio in Japan, the company announced on July 10, 2024.

The new financing “positions the company for further growth in Japan,” said the company. According to the press release, seven of the eight projects in the portfolio are operational while one is under development. Once fully operational, the portfolio is expected to produce over 300GWh of power annually.

Enfinity Global originally acquired the portfolio of power plants, which are under Japan’s feed-in-tariff (FIT) scheme, in 2022 with financing provided by Nomura and PAG among others. At that time, the company said the acquisition included “three operational large-scale solar power plants and five projects currently under construction throughout Japan.”

Additionally, in April 2024, the company announced it secured $195 million in long-term financing for a 70MW solar power plant in Aomori Prefecture with Nomura acting as the initial lead arranger and sole bookrunner and Aozora Bank as a lead arranger and an agent.

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