Enfinity Global announced the expansion of its structured credit facility in the United States to $245 million.
The funding is expected to support the development, construction and operation of its 22 GW utility-scale solar and energy storage project portfolio across the United States.
The funds were lead-arranged by Nomura, with participation from institutional investors including Copenhagen Infrastructure Partners (CIP), through its Green Credit Fund I (CI GCF I), Generate Capital, HSBC Asset Management, and Versus Capital Infrastructure Income Fund.
The expanded funds build on a $97 million facility signed with Nomura in July 2024. The initial facility included an upsizing option of up to $400 million.
Proceeds from the funds are expected to be used for development stage and ready-to-build projects in the United States, covering both construction equity and pre-notice-to-proceed capital requirements, including funding for equipment procurement, letter of credit support, and final-stage development funding.
Enfinity was supported by McDermott Will & Emery as legal counsel on this transaction. Norton Rose Fulbright supported the lenders.
Founded in 2005, Enfinity Global is headquartered in Waregem, Belgium. The company has 35.5 GW of renewable energy projects in its global portfolio and 1.1 GW of operational assets in the United States, Italy, Japan, and India, and 1.3 GW of projects actively in construction globally.
In the United States, the company has 400 MW of operational projects and 458 MW of projects in construction, with another 21.5 GW of projects in the permitting and development stage.
The company’s operational projects range in capacity from the 2 MW Winter Wheat facility in San Joaquin, California to the 56 MW CSolar South and 46 MW CSolar West projects in Imperial Valley, California. It also has operational projects in North Carolina and Idaho.
Utility-scale solar growth
Solar continues to dominate new electricity generation capacity added to the grid in the United States, according to the Energy Information Administration. Utility-scale solar capacity reached 128.6 GW in March 2025, growing from 96.9 GW in March 2024.
Electricity generation from solar continues to grow alongside capacity additions. For the rolling 12 months ending March 2025, solar facilities, including utility-scale and small-scale projects, generated 321,830 GWh, up from 250,539 GWh in the rolling 12 months beforehand. This represents 28% year-over-year growth for solar generation.
Looking ahead, EIA expects solar growth to continue, according to its Short-Term Energy Outlook report. EIA expects 26.3% growth in installations in 2025, reaching 153 GW of installed utility-scale capacity through the end of the year. In 2026 it expects another 19.5% growth in cumulative capacity in 2026, reaching 182 GW. This growth represents a doubling of cumulative utility-scale solar capacity in the United States in just three years from 91 GW in year’s end 2023 to 182 GW by the end of 2026.
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