The infrastructure arm of global alternative asset manager ICG is investing €400m in renewable energy through Enfinity Global.

ICG Infra has agreed to make the equity investment to help Enfinity with its growth plan, a deal expected to help accelerate the completion of Enfinity’s 17GW portfolio, including 7.3GW of energy storage assets.

Enfinity, which has 1GW of operational assets globally, is the leading renewable energy developer in Italy.

Guillaume d’ Engremont, head of infrastructure at ICG, said: “We are excited to be partnering with Enfinity, a market-leading solar energy company, with a clear vision of supporting the transition to a net zero carbon economy.

“The investment underpins our approach of supporting entrepreneurial and visionary founders who are committed to making meaningful contributions to a more sustainable economy.”

Carlos Domenech, CEO of Enfinity Global, said: “We are very pleased to partner with ICG in order to accelerate the execution of our projects and address our customers’ 24/7 renewable energy needs.

“ICG’s strong track record in enabling companies to scale, and their vision for the future of the industry, makes them the perfect partner for Enfinity.”

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