The alternative asset management arm of Japanese financial firm Daiwa Securities has acquired a 49% equity interest in Enfinity Global鈥檚 energy storage projects in the US and Italy.

Daiwa Energy & Infrastructure is investing an unspecified amount to acquire a 49% stake each in the 250MW battery energy storage project in Texas and the 130MW project in Veneto.

Enfinity Global will retain a 51% stake in each project and will be responsible for completing the development and construction, as well as serving as the long-term asset manager for both projects which are expected to begin operations by 2027.

Carlos Domenech, CEO of Enfinity Global, said: 鈥淲e are honoured to partner with Daiwa Energy & Infrastructure, one of Japan鈥檚 leading financial institutions, to bring new investments to the US and Italy.

鈥淭his is a win-win outcome and creates a demonstrable case study 鈥� strengthening the grid capabilities, accelerating powering of reliable competitive clean energy for customers, cross-border capital investments at attractive returns, and bringing the best global solutions by long-term responsible sponsors.鈥�

Jun Hayakawa, deputy president of Daiwa Energy & Infrastructure, said: 鈥淲ith the current favourable environment for energy storage worldwide, driven by increasing renewable power generation capacity and robust electricity demand led by data centres, we believe this partnership represents a significant step for Daiwa Energy & Infrastructure to further expand its renewables and storage portfolio on a global scale. Enfinity Global is an outstanding partner and is well positioned to capitalise on the rapidly growing renewables and energy storage markets around the world.鈥�

Ricardo Diaz, global head of capital of Enfinity Global and general manager for Americas, said: 鈥淲e are pleased to be able to bring in Daiwa Energy & Infrastructure as a capital partner to our BESS projects in the US and Italy. Bringing long-term, like-minded investors as shareholders in our global portfolios is central to our capital formation strategy to accelerate growth and optimise returns.鈥�

To read the latest 麻豆映画 Real Assets magazine click here. 

Raz joined the 麻豆映画 editorial team in 2017 as news editor of 麻豆映画 Real Assets. He has over 15 years of experience as a financial journalist, having worked for Dow Jones Newswires and The Wall Street Journal where he worked as an equities reporter covering corporate news. He later covered consumer finance and moved on to become a leisure reporter and helped manage the London corporate news and small-cap desk.View full Profile

More from Razak Musah Baba

Topics