SOFAZ Secures 49% Stake in Italian Solar Assets from Enfinity Global

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has entered into a strategic agreement with Enfinity Global to acquire a 49% minority stake in a significant portfolio of solar photovoltaic (PV) power plants located in Italy. This 402 MW portfolio, encompassing 14 solar plants situated in the Italian regions of Lazio and Emilia-Romagna, solidifies a long-term power purchase agreement strategy, offering predictable revenue streams and contributing to global sustainable energy transitions. Enfinity Global, retaining a 51% majority, will continue as the asset manager, leveraging its leadership status in Italy's renewable energy sector. The transaction aligns with SOFAZ's strategic objectives to ensure stable and predictable income flows while enhancing Italy's renewable energy landscape, potentially producing 685 GWh of clean electricity annually. The collaboration underscores the transition towards sustainable energy, with expected CO₂e emission reductions and echoing the strategic environmental objectives of both Enfinity Global and SOFAZ. The transaction has been empowered with advisory support from renowned institutions such as Mediobanca, Legance, and Fichtner for Enfinity, and JLL, Dentons Europe Studio Legale Tributario, EY, and DNV for SOFAZ.