- €316 million financing arranged by ING, Rabobank, and BNP Paribas for eight solar plants.
- 276 MW of capacity expected to generate 403 GWh annually, offsetting 109,000 tons of CO₂e.
- Enfinity Global advances €1.3 billion of total financing in Italy, targeting an 8 GW pipeline.
Rome advances utility-scale renewables
Enfinity Global has closed €316 million ($341 million) in financing to build eight utility-scale solar plants across Emilia Romagna, Basilicata, and Lazio. With a combined capacity of 276 MW, the portfolio will be operational by late 2026 and produce enough power to supply approximately 150,000 households.
The financing was structured through a club deal led by ING, Rabobank, and BNP Paribas. The package includes €214 million in non-recourse senior debt and €101 million in facilities to cover VAT, power purchase agreements, and decommissioning costs. All three banks acted as mandated lead arrangers and green loan coordinators, reflecting the tightening link between sustainable finance and large-scale project delivery in Europe.
Expanding Italy’s renewable backbone
The projects are expected to generate around 403 GWh annually, avoiding 109,000 tons of CO₂ equivalent emissions. For Italy, the investment strengthens national efforts to expand renewable energy capacity in line with EU climate targets.
“This is our largest project financing to date in Italy, reinforcing our leadership in the market,” said Julio Fournier Fisas, Enfinity Global’s General Manager for Europe. He noted the company’s strategy of siting plants close to consumption centers to meet corporate and industrial demand more directly.
CEO Carlos Domenech framed the deal as part of a broader industrial strategy: “We are proud to partner with Rabobank, BNP Paribas, and ING to accelerate the energy transition in Italy. This validates our long-term vision of building a sustainable platform that offers cost-competitive energy while driving investment and jobs.”
Scaling a €1.3 billion commitment
The financing brings Enfinity Global’s total capital raised in Italy over the past two years to €1.3 billion. The company’s Italian pipeline includes 8 GW of solar and storage projects, with 564 MW already under construction in Lazio and Emilia-Romagna.
Enfinity also leads Italy’s solar power purchase agreement market, having signed 805 MW in long-term deals with utilities, corporates, and industrial off-takers. That footprint positions the company as a key intermediary between renewable supply and rising corporate demand for decarbonized electricity.
Institutional backers emphasize strategy
The financing reflects growing confidence among global lenders in Italy’s renewables market.
“BNP Paribas is proud to close our first project finance transaction with Enfinity, supporting deployment of a large-scale solar portfolio,” said Thomas Beaumont, Head of Energy Origination EMEA. “It reinforces our commitment to accelerating energy transition in one of Europe’s most dynamic markets.”
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ING, which has financed several Enfinity projects in Italy, emphasized alignment with its global renewables lending strategy. “We remain committed to growing renewables lending to €7.5 billion annually by 2025,” said Diederik van den Berg, Managing Director, Global Lead Renewables & Power.
Rabobank highlighted continuity, with Marc Schmitz, Head of Project Finance Europe and Asia, noting this was the third Italian portfolio financing with Enfinity. “This strengthens Rabobank’s ambition to be a leading player in the renewable energy sector globally and increases our footprint in Italy.”
Governance, finance, and global implications
The deal sits at the intersection of European climate regulation and global capital markets. Italy’s grid remains heavily reliant on gas, but government targets aligned with the EU’s Fit for 55 package envision sharply accelerating solar deployment. Financing structures like Enfinity’s provide a replicable model for scaling capital-intensive projects in line with EU Taxonomy compliance and rising demand for green assets.
For C-suite executives and investors, the transaction illustrates the convergence of industrial decarbonization needs with large-scale finance. Corporates seeking renewable PPAs will see Italy’s market continue to deepen, while banks and institutional investors are positioning themselves as repeat backers of solar portfolios.
Enfinity’s €316 million financing also signals how non-recourse debt, combined with structured VAT and decommissioning facilities, is becoming the standard model for utility-scale renewables in Europe. For global players, the Italian case demonstrates the kind of financial engineering and policy alignment required to expand renewables pipelines at speed and scale.
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