Hyderabad (India), 28 January 2025.- Enfinity Global, a global leader in renewable energy, has secured connectivity for 2 GW of utility-scale solar PV and wind projects in the states of Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka in India. This strategic development represents a key advancement in the company’s efforts to expand its renewable energy portfolio and contribute to India’s energy transition.
The combined capacity of this 2 GW portfolio is expected to produce electricity equivalent to powering approximately 4.7 million households and avoiding 49 million metric tons of CO2 annually[1]. The power generated from these projects is earmarked to cater to government utilities, as well as commercial and industrial (C&I) customers.
“This milestone underscores our commitment to accelerating India’s renewable energy transition, with the aim of contributing to its ambitious goal of deploying 500 GW of non-fossil fuel energy capacity by 2030,” said Carlos Domenech, CEO of Enfinity Global. “Our global presence enables us to create capital and operational synergies, and when combined with our local capabilities, it positions us as a strategic and reliable partner for the long-term energy needs of our customers in India.”
With over 1 GW of projects expected to enter the construction phase this year, including those in Maharashtra and Karnataka starting in Q1 2025, Enfinity Global’s renewable energy portfolio in India now totals ~3.3 GW in various stages. This includes 240 MW already operational, 2 GW with granted connectivity, and an additional 1 GW of solar PV, wind, and energy storage projects in development. The company recently awarded a 300 MW Solar-Wind Hybrid project through SJVN’s competitive bidding process in Q4 2024.
Over the next 3 years, Enfinity intends to develop and commission renewable power plants to supply over 5 GWh of renewable electricity annually, including through Power Purchase Agreements (PPAs) with C&I customers.
The company is also taking significant steps to align the necessary capital to execute its portfolio in India through collaboration with national and international financial partners. In May 2024, it closed a $135 million junior financing agreement with the Canada Pension Plan Investment Board (CPP Investments) to support the development and construction of solar and wind projects across the country.
[1] The calculations are based on data provided by the Indian Central Electricity Authority.[1]
About Enfinity Global
Enfinity Global Inc., together with its subsidiaries, is a leading US-based renewable energy and sustainability services company that was established in 2019. The company owns a 32.1 GW portfolio of renewable energy and storage projects, including operational, under-construction, and development assets, with an additional 37 GW under negotiation across the U.S. With offices in the U.S., Europe, Japan, and India, Enfinity aims to contribute to a low-carbon economy. Enfinity’s leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets. www.enfinity.global / Follow Enfinity Global on LinkedIn
Important Notice
This press release contains projections and pro forma financial information based upon assumptions that 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. Unless otherwise specified, all greenhouse gas or carbon offsets or equivalencies are based on the United States Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.
