Enfinity Global Inc., a leading renewable energy company, has announced the sale of a c. 49% minority interest in two large-scale battery energy storage system (BESS) projects totaling 380 MW to Daiwa Energy & Infrastructure Ltd. (DEI). DEI is the alternative asset management arm of Daiwa Securities Group Inc., one of Japan’s leading financial institutions.
Enfinity Global retains a c. 51% controlling stake in the projects and will continue to oversee their development and construction. The company will also serve as the long-term asset manager for both projects.
The first project, located in the USA in the Houston zone of ERCOT, is a 250 MW BESS with a two-hour duration and 500 MWh capacity. The second project is based in the Veneto region of Italy and involves a 130 MW BESS with a four-hour duration and 520 MWh capacity. Both facilities are slated to begin operations by 2027.
The collaboration between Enfinity and Daiwa is expected to strengthen grid resilience and address rising electricity demand, particularly from data centers, artificial intelligence applications, and industrial electrification in both the U.S. and Italy.
Carlos Domenech, CEO of Enfinity Global, commented, “We are honored to partner with Daiwa Energy & Infrastructure, one of Japan’s leading financial institutions, to bring new investments to the USA and Italy. This is a win-win outcome and creates a demonstrable case study; 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.”
Jun Hayakawa, Deputy President of DEI, said, “With the current favorable environment for energy storage worldwide, driven by increasing renewable power generation capacity and robust electricity demand led by data centers, we believe this partnership represents a significant step for DEI to further expand its renewables and storage portfolio on a global scale. Enfinity Global is an outstanding partner and is well positioned to capitalize on the rapidly growing renewables and energy storage markets around the world.”
Ricardo Diaz, Global Head of Capital of Enfinity Global and General Manager for Americas, added, “We 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 optimize returns.”
Enfinity Global is a fast-growing U.S.-based independent power producer (IPP) with a globally diversified portfolio totaling 35.5 GW. This includes 20.9 GW of solar and wind projects and 14.6 GW of battery energy storage systems. The company currently has 1.1 GW of operational assets and another 1.2 GW under construction.
Legal counsel for Enfinity was provided by Winston & Strawn and DLA Piper, while Daiwa Energy & Infrastructure was advised by Orrick Herrington & Sutcliffe, Ensight Energy Consulting, and Ernst & Young.
