PARIS and MIAMI, Sept. 7,
2023 /PRNewswire/ -- 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 million 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.
Guillaume d' Engremont, Head of Infra at ICG, commented:
"We are excited to be partnering with Enfinity, a market-leading
solar energy company, with a clear vision of supporting the
transition to a net zero carbon economy. The investment underpins
our approach of supporting entrepreneurial and visionary founders
who are committed to making meaningful contributions to a more
sustainable economy."
Carlos Domenech, CEO of
Enfinity Global, commented: "We are very pleased to
partner with ICG in order to accelerate the execution of our
projects and address our customers' 24/7 renewable energy needs.
ICG's strong track record in enabling companies to scale, and their
vision for the future of the industry, makes them the perfect
partner for Enfinity."
This investment is expected to close promptly upon receipt of
relevant regulatory approvals.
About ICG
ICG provides flexible capital solutions to help companies
develop and grow. We are a leading global alternative asset manager
with over 30 years' history, managing $82.1bn of assets and investing across the
capital structure. We operate across four asset classes: Structured
and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to
deliver value for shareholders, clients, and employees, and use our
position of influence to benefit the environment and society. We
are committed to being a net zero asset manager across our
operations and relevant investments by 2040.
ICG is listed on the London Stock Exchange (ticker symbol: ICP).
Further details are available at www.icgam.com. You can follow ICG
on LinkedIn and Twitter.
About Enfinity Global
Enfinity Global Inc., together with its subsidiaries, is a
US-based leading renewable energy and sustainability services
company established in 2018. The company owns a portfolio of 17 GW
of renewable energy production and storage projects, including
operational assets, under construction, and in different stages of
development. With offices across US, Asia, and Europe, the company aims to make a significant
contribution to the transition to a net zero carbon sustainable
economy. Enfinity's leadership team, one of the most experienced
global teams in renewables, brings over $37
billion of financing experience in the renewable energy
sector and over 15 GW of developed and acquired solar and wind
assets. www.enfinity.global / Follow Enfinity Global on
LinkedIn
Media Contact:
|
ICG
Clare Glynn
Head of Corporate
Communications
T. +44 20
3545 1395
M. +44 7714
459 949
Email: clare.glynn@icgam.com
|
Enfinity
Global
Juan Ignacio
Moreno
Communication and
Sustainability Director
M. +34 687 909
685
Email:
jimoreno@enfinity.global
|
Important Notice
This press release contains projections and pro forma financial
information based upon assumptions which 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.
View original
content:https://www.prnewswire.com/news-releases/icg-invests-400-million-in-enfinity-global-to-fund-its-near-term-growth-301920080.html
SOURCE ICG and Enfinity Global
