Enfinity Global, a leader in renewable energy, has secured connectivity for 2 GW of large-scale solar PV and wind projects in Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka, India. This development is a major step forward in the company’s expansion and its role in supporting India’s energy transition. The 2 GW capacity will generate enough electricity to power around 4.7 million households and help avoid 49 million metric tons of CO2 emissions each year. The electricity produced from these projects will be supplied to government utilities and commercial and industrial (C&I) customers.
Carlos Domenech, CEO of Enfinity Global, said “This milestone underscores our commitment to accelerating India’s renewable energy transition, with the aim of contributing to its ambitious goal of deploying 500 GW of non-fossil fuel energy capacity by 2030. Our global presence enables us to create capital and operational synergies, and when combined with our local capabilities, it positions us as a strategic and reliable partner for the long-term energy needs of our customers in India.”
Enfinity Global is set to begin construction on over 1 GW of renewable energy projects this year, including projects in Maharashtra and Karnataka starting in Q1 2025. Their renewable energy portfolio in India now totals around 3.3 GW at various stages, with 240 MW already operational. Additionally, 2 GW have connectivity agreements, and 1 GW of solar, wind, and energy storage projects are still in development. Recently, Enfinity secured a 300 MW Solar-Wind Hybrid project through SJVN’s competitive bidding process in Q4 2024.
In the next three years, Enfinity plans to develop renewable power plants that will generate over 5 GWh of renewable electricity annually, including through Power Purchase Agreements (PPAs) with commercial and industrial (C&I) customers. The company is also making efforts to secure the necessary capital for these projects by partnering with financial institutions both in India and abroad. In May 2024, Enfinity closed a $135 million junior financing agreement with the Canada Pension Plan Investment Board (CPP Investments) to support the development and construction of solar and wind projects across India.
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