Enfinity Global, who specialise in renewable energy, has secured connectivity for 2 GW of utility scale solar photovoltaics and wind projects in the states of Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka in India.
This development represents a key advancement in the company’s efforts to expand its renewable energy portfolio and contribute to India’s energy transition.
The combined capacity of this 2 GW portfolio is expected to produce electricity equivalent to powering approximately 4.7 million households and avoiding 49 million tpy of CO21. The power generated from these projects is earmarked to cater to government utilities, as well as commercial and industrial (C&I) customers.
Carlos Domenech, CEO of Enfinity Global, commented: “This milestone underscores a commitment to accelerating India’s renewable energy transition, with the aim of contributing to its goal of deploying 500 GW of non-fossil fuel energy capacity by 2030.”
With over 1 GW of projects expected to enter the construction phase this year, including those in Maharashtra and Karnataka starting in 1Q25, Enfinity Global’s renewable energy portfolio in India now totals approximately 3.3 GW in various stages. This includes 240 MW already operational, 2 GW with granted connectivity, and an additional 1 GW of solar PV, wind, and energy storage projects in development. The company recently awarded a 300 MW solar-wind hybrid project through SJVN’s competitive bidding process in 4Q24.
Over the next three years, Enfinity intends to develop and commission renewable power plants to supply over 5 GWh of renewable electricity annually, including through power purchase agreements with C&I customers.
The company is also taking significant steps to align the necessary capital to execute its portfolio in India through collaboration with national and international financial partners. In May 2024, it closed a US$135 million junior financing agreement with the Canada Pension Plan Investment Board to support the development and construction of solar and wind projects across the country.
1 The calculations are based on data provided by the Indian Central Electricity Authority.
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