Enfinity Global Announces 250 MV Solar Portfolio Acquisition in Japan

A Brief Summary

Enfinity Global, a renewable energy and sustainability services company, recently announced the acquisition of a 250 MW solar photovoltaic portfolio in Japan for $ 1 billion. The firm could expand its operation and establish a new platform in Japan through the recent move.

Read Full Article Below

Enfinity's renewable portfolio stands at 281 MW now across nine owned and managed projects marking a significant expansion in Japan. These projects operate under the Feed-in Tariff program that encourages and enhances renewable electricity technologies.

Peter Hennessy, Enfinity Global’s VP of Business Development, said: “Over the last 7 years, members of our team have been developing these nine projects by successfully combining our local capabilities with global know-how. This acquisition reflects our long-term commitment to Japan.”

The acquisition comes when Japan is accelerating its renewable energy capacity. The government of Japan released its energy strategy in July that includes plans to double the share of renewable energy to 37% of the energy mix by 2030, compared to less than 20 per cent currently. Japan has pledged to achieve net-zero by 2050 also committed an interim 2030 goal to reduce greenhouse gas emissions by 46% by 2030.

Carlos Domenech, CEO of Enfinity Global, said: “The acquisition of this portfolio consolidates Enfinity’s positioning as one of the leaders in Japan’s renewable market. We believe the market will grow significantly to support Japan’s ambitious 2050 decarbonization target. Our team’s expertise places Enfinity in an excellent position to play an important role in this new scenario.”