Enfinity Global gets USD 135 mn funding for 1.2 GW green power projects in India

New Delhi: US-based Enfinity Global on Thursday said it has secured USD 135 million (around Rs 1,120 crore) funding for developing 1.2 GW of green power projects in India.

The projects spread across four states of Maharashtra, Karnataka, Rajasthan and Uttar Pradesh and Delhi, are in advanced stages of development and are expected to be commissioned between 2025 and 2026, Enfinity Global said in a statement.

"Enfinity Global Inc announced that it has signed USD 135 million in financing for the development and construction of 1.2 GW of solar and wind projects in India. The financing is being provided by Canada Pension Plan Investment Board (CPP Investments) through subsidiaries of CPPIB Credit Investments Inc," it said.

Once interconnected, the projects are expected to generate 2.4 GWh (gigawatt hour) of clean electricity annually, which is enough to power over two million Indian homes and offset 2.6 million tonnes of CO2 emissions.

Solar and wind power are two vital renewable energy sources and India offers a strong pipeline for such opportunities. CPP Investments has partnered with Enfinity Global on these projects by providing long-term and flexible capital that will provide a promising source of long-term returns for the CPP Fund, said Geoffrey Souter, Managing Director, Head of Real Assets Credit at CPP Investments.

Enfinity Global Inc is a leading US-based renewable energy and sustainability services company. It owns a portfolio of 22.4 GW of renewable energy and storage projects, including operational assets, under construction, and in different stages of development.