Enfinity Global, a renewable energy company, has secured $242 million (~$¥29 billion) in long-term financing for three solar projects in Japan totaling 70 MW. Nomura, a financial institution, acted as the initial lead arranger/sole bookrunner, and Aozora Bank, a Japanese commercial bank, served as the lead arranger/agent.
“We are committed to supporting Japan’s ambitious plan to reach carbon neutrality by 2050,” said Carlos Domenech, CEO of Enfinity Global. “We are grateful for the trust shown by our financing partners, Nomura and Aozora Bank.”
“Nomura is pleased to provide liquidity and support to Enfinity Global in securing financing for these important solar projects,” said Vinod Mukani, Global Head of Nomura’s Infrastructure and Power Finance (“IPF”) group. “Nomura is delighted to develop solutions for its clients, particularly those with top-flight teams like Enfinity Global, accelerating the energy transition to a low carbon economy.”
“Aozora is pleased to have the opportunity to support Enfinity Global’s solar projects in Japan”, said Hiroki Nakazato, Executive Officer, Head of Environment Business Group. “Aozora will continue to focus on financing that supports our customers’ initiatives to develop renewable energy and the energy transition for a carbon-free economy.”
Idemitsu Renewables, a project developer, and an independent power producer, recently raised $61 million in tax equity and debt financing for its 73 MW Luciana Solar Project in Tulare County, California. Morgan Stanley Renewables provided the tax equity, and Rabobank provided the debt financing for the solar project. The project began its commercial operation in May 2022, owned and operated by Idemitsu Renewables.
According to Mercom’s 1H and Q2 2022 report, announced large-scale project funding in Q2 2022 came to $6.9 billion, a 24% decrease compared to $9 billion in Q1 2022. Capital Energy, a Spanish energy company, has raised $167 million for 206 MW solar and wind projects from MEAG, an asset manager of Munich Re and ERGO. Capital Energy plans to allocate new project finance to five renewable facilities, comprising four wind farms, one of which is operational, and one solar project.