SOFAZ to Acquire Minority Stake in Enfinity Global's Italian Solar Assets

Thorough: The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has entered into an agreement with Enfinity Global to acquire a 49% equity interest in a 402 MW portfolio of solar photovoltaic plants in Italy. Enfinity Global, a leading renewable energy firm, will retain a 51% stake and continue to manage the assets, consolidating its position in the Italian market. Located in the Lazio and Emilia-Romagna regions, the portfolio comprises 14 solar power plants, both operational and under construction. These facilities have secured long-term power purchase agreements (PPAs), offering predictable energy prices and stable cash flows. The investment aligns with SOFAZ’s strategic objectives of supporting sustainable energy transitions and generating steady income streams. For Enfinity Global, the partnership is crucial for further capital investments and the acceleration of its solar and energy storage pipeline of approximately 7.9 GW. This engagement also strengthens Enfinity as a key Independent Power Producer in Italy. The transaction is deemed strategic for both parties, with advisory services provided by firms such as Mediobanca, Legance, and Fichtner for Enfinity and JLL, Dentons, EY, and DNV for SOFAZ.