ICG, the global alternative asset manager, today announced that its Infrastructure team (“ICG Infra”) has signed a definitive agreement with Enfinity Global, a leader in renewable energy, to make a €400 m equity investment to fund Enfinity’s near-term growth and the execution of its business strategy.
This investment will bolster Enfinity Global’s balance sheet to accelerate the completion of its 17GW portfolio, including 7.3 GW of energy storage assets. With 1 GW of operational assets globally, the company is one of the fastest growing independent power producers, and the leading renewable energy developer in Italy.
The investment further underpins ICG Infra’s strategy of investing in market leading businesses within the renewable energy sector in Europe and the US which have an active role in supporting the transition to net zero. ICG Infra will work with Enfinity’s management team to build and operate the existing projects in the long-term, whilst continuing to support organic and inorganic expansion.