Sienna Investment Managers Funds Renewable Energy Project in Lazio Region

Sienna Investment Managers (IM), a multi-expertise pan-European asset manager, has granted a €25 million Assetco financing, with a duration of 7 years, to Enfinity Global, a leader in the renewable energy sector, for the construction of a 134 MW solar portfolio in the Lazio Region. The portfolio, consisting of four large-scale solar plants currently under construction, is expected to become operational progressively starting from the second quarter of 2024. Once operational, the plants will generate 225 GWh of clean energy per year, already subscribed by Statkraft through a 10-year solar energy purchase contract. This amount of electricity is sufficient to power 85,000 homes and offset 91,500 tonnes of CO2 emissions. Enfinity Global had previously announced financing agreements for €162 million for this portfolio with a pool of international banks. The completion of this transaction is a clear testimony to the firm commitment of Sienna IM and Enfinity to participate in the energy transition in Europe. Astris acted as financial advisor, while DLA Piper was the legal advisor to the lender and Gianni & Origoni to the borrower. This project represents another financing by Sienna IM in Italy as part of its flagship fund Predirec ENR 2 managed by Sienna AM France, an asset management company approved by the AMF no. GP97118, a member of the Sienna IM group. Sienna IM's sustainable infrastructure debt strategy has already financed renewable energy projects with a total capacity of 2GW in 6 European countries. Enfinity Global is one of the leading companies in the renewable energy sector in Italy with 235 MW under construction, 2.1 GW of solar plants in advanced permitting stage, and 2.3 GW of energy storage projects. The company is moving decisively in executing its business strategy aimed at becoming a leading independent power producer, providing clean and competitive energy to its customers continuously. Julio Fournier Fisas, CEO Europe of Enfinity Global, commented: 'We are pleased to collaborate with Sienna Investment Managers for this transaction, which represents a good example of our ability to attract high-quality investments in our portfolios. We continue to make progress in developing green energy infrastructure in Italy.' Ronald Gaultier, Deputy Head of Infrastructure Debt Funds at Sienna IM, commented: 'We are excited to accompany the construction of Italian photovoltaic plants by Enfinity and to build a partnership with such a significant energy producer committed to mitigating climate change. This Assetco financing fits perfectly with our main strategy, which consists of making infrastructure debt investments under article 9 with a focus on the energy transition, in line with the promise made to our investors.'