Enfinity's Strategic Solar Venture: 49% Stake Acquired by SOFAZ

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) will acquire a 49% minority stake in Enfinity Global's 402 MW solar portfolio in Italy. Enfinity Global will retain a 51% controlling stake and will manage the solar assets which are spread across the Italian regions of Lacio and Emilia-Romaña. These solar plants have long-term power purchase agreements (PPAs), ensuring stable and predictable income and making a significant contribution to sustainable energy goals. The agreement allows SOFAZ to align with its strategic objectives of long-term investment while promoting the global shift to sustainable energy sources. Moreover, Enfinity aims to reinvest capital from this partnership to expand its solar and energy storage projects, consolidating its position as a leading independent power producer in Italy. The transaction underlines the growing cooperation between global investors and renewable energy companies to meet escalating energy demands while reducing carbon emissions. Enfinity was advised by Mediobanca, Legance, and Fichtner, while SOFAZ's advisors included JLL, Dentons, EY, and DNV.