miami, May 16, 2024 /CNW/ — Enfinity Global Inc., a leader in renewable energy, announced today that it has signed an agreement. $135 million financing the development and construction of 1.2GW of solar and wind projects India. The financing is provided by Canada Pension Plan Investments Board (CPP Investments) through a subsidiary of CPPIB Credit Investments Inc.
The projects in this portfolio are across five states (Maharashtra; delhi, Karnataka, Rajasthan and Uttar Pradesh) are at an advanced stage of development and are expected to become operational between 2025 and 2026. Once interconnected, they are expected to generate 2.4GWh of clean electricity per year, enough to power more than 2 million homes in India. 2.6 million tons of CO2 emissions were offset.
“Renewable energy is at the core of that.” indian Economic growth planning as a key driver of competitiveness. Enfinity Global is pleased to partner with CPP Investments, one of the most respected global investors in bringing clean energy to power. indian future,” Said carlos domenechEnfinity Global CEO.
“Solar power and wind power are two important renewable energy sources; India provides a strong pipeline for such opportunities. We are pleased to partner with Enfinity Global on these projects, providing long-term, flexible funding that we believe will provide a promising long-term revenue stream for CPP funds. ”Said Jeffrey SuiterManaging Director and Head of Real Estate Credit at CPP Investments.
This funding reaffirms Enfinity's long-term commitment. India Ability to attract foreign capital and promote local know-how to support the country's decarbonization goals. The company owns and operates a portfolio of 240 MW of solar power plants. India, more than 1.5 GW is under development. Over the next three years, Enfinity plans to develop and commission renewable power plants that will deliver more than 5 GWh of clean electricity annually, including through power purchase agreements (PPAs). Enfinity also intends to diversify its business to offer other net-zero solutions to Indian and global markets through energy storage, hybrid renewable energy production, green ammonia, water treatment and other emerging circular economy technologies. .
About Enfinity Global
Founded in 2019, Enfinity Global Inc. and its subsidiaries are a leading renewable energy and sustainability services company based in the United States. The company owns a portfolio of 22.4 GW of renewable energy and storage projects, including assets under operation, under construction, and under construction. different stages of development. With offices throughout the United States, Europe, Japanand India, the company aims to make a significant contribution to a sustainable net-zero carbon economy. Enfinity's leadership team is one of the most experienced global teams in the renewable energy sector. $37 billion With over 15 GW of developed and acquired solar and wind assets, we have extensive financing experience in the renewable energy sector.
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Source: Enfinity Global
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