Latest news with #SOFAZ
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Business Standard
3 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
5 days ago
- 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
Bloomberg
6 days ago
- Business
- Bloomberg
Azerbaijan Fund to Buy 49% of Enfinity's Solar Assets in Italy
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% 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.
Gulf Business
30-05-2025
- Business
- Gulf Business
SOFAZ invests $50m in ADNOC Gas Pipeline assets via Lunate-managed fund
Image: Supplied The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50m in ADNOC Gas Pipeline Assets (AGPA) through a specialised investment fund managed by Abu Dhabi-based alternative investment firm Lunate Capital, the parties said in a joint statement on Thursday. The transaction supports SOFAZ's strategy to diversify its portfolio and deepen economic engagement with the Gulf Cooperation Council (GCC), specifically by gaining exposure to resilient, income-generating infrastructure assets. ADNOC Gas Pipeline Assets holds usage rights over one of the UAE's most critical energy assets. ADNOC Gas Pipeline Assets investment holds strategic importance The network spans 982 kilometres and includes 38 pipelines — 12 dedicated to sales gas, 15 for gas injection, and 11 for natural gas liquids. It is governed by a long-term usage agreement with The asset has consistently delivered stable operational performance and predictable income, even during periods of global energy market volatility, according to the companies. 'AGPA stands out as a high-quality, strategically vital infrastructure platform with long-term relevance and strong income-generating potential,' said Farhad Zeynalov, CIO at SOFAZ. 'We are delighted with the opportunity to partner with Lunate on this transaction, which marks a significant step in advancing SOFAZ's investment footprint across the GCC region.' Nabeel Qadir, senior partner at Lunate, said: 'We are excited to provide SOFAZ the opportunity to invest in ADNOC Gas pipelines, a critical asset in the UAE's energy infrastructure, offering highly attractive, risk-adjusted returns. This transaction demonstrates Lunate's ability to deliver customised solutions for our clients and partners, through unique access to global and UAE-specific investment opportunities.' Read:
