Key Impact Points:
- SOFAZ invests in 14 solar plants in Italy, expected to generate 685 GWh of clean energy annually.
- The deal supports Enfinity Global’s pipeline expansion of 2.6 GW solar and 5.3 GW storage.
- The partnership is forecasted to cut 184,950 tons of CO₂e per year, powering 250,000+ households.
Azerbaijan Expands Renewable Energy Investments in Europe
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) will acquire a 49% equity stake in a 402 MW solar portfolio in Italy from Enfinity Global, which will retain 51% and manage the assets long-term, the companies announced on July 18.
Strategic Investment in Clean Power
The portfolio includes 14 solar photovoltaic plants located across Lazio and Emilia-Romagna—some already operational, others under construction. The plants have long-term power purchase agreements (PPAs) in place, ensuring stable revenues and predictable pricing for customers.
“Through this strategic collaboration with Enfinity Global, SOFAZ supports the delivery of competitive, clean energy to meet Italy’s growing energy needs, while contributing to local economic development and household energy access,” said Israfil Mammadov, CEO of SOFAZ.
Delivering Climate and Economic Impact
The portfolio is expected to produce 685 GWh of clean electricity annually, cutting 184,950 tons of CO₂e emissions—equal to the power needs of more than 250,000 Italian households.
“We are honored and welcome SOFAZ as a long-term partner and investor to our first vintage Italian contracted PV portfolio,” said Carlos Domenech, CEO of Enfinity Global. “This investment is a meaningful example of transitioning to sustainable energy with a win-win outcome for all countries, investors, and customers involved.”
Accelerating Enfinity’s Growth Pipeline
The partnership enables Enfinity to recycle capital and accelerate deployment across its 2.6 GW solar and 5.3 GW storage pipeline, reinforcing its position as Italy’s leading Independent Power Producer.
Advisory Teams
The transaction was supported by advisors including Mediobanca, Legance, and Fichtner for Enfinity, and JLL, Dentons, EY, and DNV for SOFAZ.
Related Article: Enfinity Global Signs 420 MW Solar Power Deal in Italy with Major U.S. Tech Company
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