Latest news with #CarlosDomenech
Euronews
3 hours ago
- Business
- Euronews
Azerbaijan's SOFAZ invests in Italy's solar future
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has acquired a 49% stake in a portfolio of solar power plants in Italy, marking a shift in Azerbaijan‑Italy energy ties from traditional pipelines to long‑term renewable partnerships. For decades, energy cooperation between Azerbaijan and Italy was defined by hydrocarbons and pipelines. This new deal, observers say, signals a new chapter – from molecules to electrons, with Italy securing alternative sources of energy sold under long‑term power purchase agreements, a model that ensures stable tariffs for consumers and predictable, inflation‑linked income streams for investors. The portfolio, owned and operated by Enfinity Global, spans 14 solar plants in the Lazio and Emilia Romagna regions. Once fully operational, the sites are expected to generate about 685 million kilowatt hours of clean electricity a year – enough to meet the annual needs of nearly 250,000 Italian households and offset around 184,950 tons of CO₂‑equivalent emissions. A milestone for Azerbaijan-Italy ties The agreement was formally marked in Rome on 18 July 2025, with Italian government officials, diplomats and industry leaders in attendance. Israfil Mammadov, Executive Director of SOFAZ, said the collaboration 'supports the delivery of competitive clean energy to meet Italy's growing energy needs while contributing to local economic development and energy access. As a forward‑looking institutional capital provider, we remain committed to supporting strategic investment opportunities in Italy and across Europe'. Carlos Domenech, CEO of Enfinity Global, called it 'a proud moment to add new energies to a historic relationship built on gas and oil supply'. A long‑term global investor Celebrating its 25th anniversary last year, SOFAZ manages over €66 billion in assets, more than 90% of Azerbaijan's GDP, and reported a 6% investment return in 2024. Its portfolio spans more than 50 countries and sectors from infrastructure and real estate to private equity and fixed income, reflecting an adaptive strategy shaped by trends such as the energy transition and digitalization. Italy is already SOFAZ's fourth‑largest investment destination, with nearly €3 billion deployed across traditional and alternative asset classes. The solar deal expands that footprint and reinforces SOFAZ's commitment to infrastructure and long‑term real assets in Europe. Powering Europe's energy transition The investment also supports Italy's national decarbonization efforts and the European Union's REPowerEU initiative, which seeks to cut reliance on imported fossil fuels and accelerate the switch to renewables. By backing a 402 MW solar portfolio in Italy, SOFAZ is not only diversifying its own returns but also helping Europe build a more resilient, low‑carbon energy system. For Azerbaijan's sovereign wealth fund, built on the revenues of oil and gas, the message is clear: its future, and its investments, are increasingly tied to clean energy.
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Business Standard
5 days ago
- Business
- Business Standard
Azerbaijan's SOFAZ to buy 49% stake in Enfinity's Italy solar assets
SOFAZ will acquire 49 per cent of Enfinity's 402-megawatt portfolio, which includes 14 solar plants both operating and under construction across Lazio and Emilia-Romagna in central Italy Bloomberg Azerbaijan's sovereign wealth fund SOFAZ is set to buy a stake in Enfinity Global Inc.'s solar power assets in Italy in further step to expand its investments in the country. SOFAZ will acquire 49 per cent of Enfinity's 402-megawatt portfolio, which includes 14 solar plants both operating and under construction across Lazio and Emilia-Romagna in central Italy. US-based Enfinity will retain a majority stake in the photo-voltaic projects, which are secured by power purchase agreements. 'It brings financial resources to advance the development of new projects in Italy,' Enfinity Chief Executive Officer Carlos Domenech said in an interview. 'There is a huge potential for growth for renewable markets, it's still under-supplied.' 'It's just the start move in expanding our presence in renewables in Italy and into wider Europe,' said SOFAZ CEO Israfil Mammadov.
Cision Canada
18-07-2025
- Business
- Cision Canada
Azerbaijan's Sovereign Wealth Fund to Acquire Minority Stake in 402 MW of Solar Assets in Italy from Enfinity Global
SOFAZ to acquire 49% stake in a 402 MW portfolio of solar power plants in Italy from Enfinity Global who retains 51% and will be the long-term asset manager from Enfinity Global who retains 51% and will be the long-term asset manager The portfolio includes 14 solar power plants across the Lazio and Emilia-Romagna regions, with electricity output contracted through long-term PPAs ROME , July 18, 2025 /CNW/ -- The State Oil Fund of the Republic of Azerbaijan (SOFAZ) and Enfinity Global, a leading renewable energy company, communicate to have entered into an agreement under which SOFAZ will acquire a 49% equity interest in a 402 MW portfolio of solar photovoltaic (PV) plants in Italy . Upon completion of the deal, Enfinity will retain a majority stake and continue to lead the management of the assets, leveraging its leading position in the Italian renewable energy sector. The investment aligns with SOFAZ's strategic objectives by offering a stable and predictable income stream, while also contributing to global efforts in the transition to sustainable energy — consistent with the Fund's mandate as a long-term investor. Through this agreement, Enfinity brings in capital partners to support its Italian portfolio, enabling reinvestment and accelerating the deployment of its 2.6 GW solar and 5.3 GW energy storage pipeline, reinforcing its position as the leading Independent Power Producer in the country. The investment comprises 14 solar PV plants, both operational and under construction, located in the Lazio and Emilia-Romagna regions of Italy . The energy generated by these facilities is contracted through long-term power purchase agreements (PPAs), ensuring predictable energy prices for customers and stable cash flows. The portfolio is expected to produce approximately 685 GWh of clean electricity annually, which will lead to an estimated reduction of 184,950 tons of CO₂e emissions per year—equivalent to the annual electricity consumption of over 250,000 Italian households. Carlos Domenech , CEO of Enfinity Global: "We are honored and welcome SOFAZ as a long-term partner and investor to our first vintage Italian contracted PV portfolio. This investment is a meaningful example of transitioning to sustainable energy with a win-win outcome for all countries, investors, and customers involved." Israfil Mammadov , CEO of SOFAZ: "Through this strategic collaboration with Enfinity Global, SOFAZ supports the delivery of competitive, clean energy to meet Italy's growing energy needs, while contributing to local economic development and household energy access. As a forward-looking institutional capital provider we remain committed to supporting strategic investment opportunities in Italy and across Europe ." The transaction was supported by a team of advisors to Enfinity, including Mediobanca as financial advisor, Legance as legal counsel, and Fichtner as technical advisor. SOFAZ was advised by JLL as M&A advisor, Dentons Europe Studio Legale Tributario as legal counsel, EY as financial and tax advisor, and DNV as technical advisor. Logo: SOURCE Enfinity Global J.I. Moreno, Communication and Sustainability Director, +1 305-518-7221
Cision Canada
26-06-2025
- Business
- Cision Canada
Enfinity Global Expands U.S. Structured Credit Facility to $245 Million to Accelerate Renewable Energy Deployment
MIAMI, /CNW/ -- Enfinity Global Inc., a leader in renewable energy, announced today the successful expansion of its structured credit facility in the United States to $245 million. This latest transaction is part of a broader financing strategy to secure long-term capital for the development, construction, and operation of Enfinity's 22 GW utility-scale solar and energy storage portfolio across the country. The asset-based credit facility was lead-arranged by Nomura, with participation from top-tier institutional investors including Copenhagen Infrastructure Partners (CIP), through its Green Credit Fund I (CI GCF I), Generate Capital, HSBC Asset Management, and Versus Capital Infrastructure Income Fund. "We are grateful for the investments and relationships with Nomura, CIP, HSBC Asset Management, Generate Capital, and Versus Capital Infrastructure Income Fund as we scale our renewable energy portfolio. U.S. customers need cost-competitive energy and innovative solutions to support their growth, and renewable energy is the fastest and most effective way to bring new capacity online to meet that demand", said Carlos Domenech, CEO of Enfinity Global."As long-term owner-operators, we stand behind our power plants alongside our investment partners, ensuring their reliability throughout the entire lifecycle, as we meet our customers' evolving needs." This expansion builds on the $97 million facility signed with Nomura in July 2024, reinforcing the strong partnership between the two organizations and their shared commitment to accelerating the energy transition in the U.S. The initial facility included an upsizing option of up to $400 million, providing flexibility to scale with the company's growing pipeline. Proceeds from the facility will be used to finance Enfinity's development and ready-to-build projects in the U.S., covering both construction equity and pre-NTP capital needs such as equipment procurement, letter of credit support, and final-stage development funding. "We are pleased to partner with top-tier financial institutions to support Enfinity as we continue to materialize successful deployment of large-scale clean energy assets in the U.S.," said Ricardo Diaz, General Manager for Americas of Enfinity Global and Global Head of Capital. "We look forward to continuing the ambitious growth trajectory by tailoring innovative financing solutions at scale with trusted long-term relationships to support our proprietary, in-house developed, high-quality and diversified portfolio". Vinod Mukani, Global Head of Nomura Infrastructure & Power Business (IPB commented, " Enfinity Global has been very successful in expanding its U.S. development pipeline. Leveraging our deep expertise in the sector, we successfully provided a tailored financing solution that will enable Enfinity Global to grow its US business." " We look forward to expanding our partnership with Enfinity Global with the upsize of its enhanced credit facilities," said Alain Halimi, Managing Director, Nomura IPB. " Delivering customized financing structure and s upporting best-in-class operators like Enfinity Global, which provides critical decarbonization and grid stabilization infrastructure, is a cornerstone of our business."
Yahoo
10-06-2025
- Business
- Yahoo
Enfinity Global Signs PPAs for 420 MW of Renewable Energy Supply in Italy with a U.S. Technology Company
MILAN, June 10, 2025 /PRNewswire/ -- Enfinity Global announced today the signing of Power Purchase Agreements (PPAs) in Italy with a U.S. technology company, committing to supply renewable energy from a 420 MW portfolio of solar PV projects. "We are pleased to continue supporting our customers across diverse sectors in Italy as they advance their energy transition," said Carlos Domenech, CEO of Enfinity Global. "Our goal is to serve global and local customers in their renewable energy needs." Enfinity Global Enfinity Global is a leading U.S.-based renewable energy and sustainability services company established in 2019. The company owns a 35.5 GW portfolio of renewable energy and storage projects, including operational, under-construction, and development assets, with an additional 37 GW under negotiation across the United States. With offices in the U.S., Europe, Japan, and India, Enfinity aims to contribute to a low-carbon economy. Enfinity's leadership team brings over $41 billion of financing experience in the renewable energy sector, with over 26 GW of developed and acquired solar and wind assets. The company leads the solar PPAs market in Italy, having contracted 805 MW over the last two years with major corporations and industrial customers. Enfinity is currently Italy's leading independent power producer (IPP) as measured by permitted projects, according to the "Q4 Dev&Deals report" published by Elemens. Photo - - View original content to download multimedia: SOURCE Enfinity Global Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
