Strategic View: Enfinity Global has secured a landmark “club deal” financing facility to develop eight new photovoltaic plants in Italy. The complex package includes €214M in senior non-recourse debt, plus €101M for VAT and other credit lines, demonstrating the power of club structures to fund large-scale, capital-intensive green energy projects.
Full story: The green transition in Italy just got a massive jolt of capital. Enfinity Global, a major player in renewable energy, has successfully closed a complex, multi-tranche “club deal” facility. This war chest is earmarked for one purpose: building a new portfolio of eight large-scale photovoltaic (solar) plants across the country.
Let’s look under the hood of this financing, because it is a brilliant piece of financial engineering. This is not a simple loan. The club, led by a consortium of energy-savvy lenders, has provided a package of more than €315 million. This includes €214 million in senior non-recourse project debt. This structure insulates the parent company from the projects’ risk.
But the club deal goes further. It also provides €101 million in specialized credit lines. This capital is designated for Italy’s high VAT (Value Added Tax) payments, as well as for PPA* credit lines and managing decommissioning obligations. This is a bespoke, ‘full-stack’ solution that a single lender would struggle to provide. It’s the kind of complex, multi-part financing that club deals were born to solve.
This transaction is a template for the future of green infrastructure. As renewable projects grow in size and complexity, the “club deal” is becoming the essential tool for developers. It allows them to pool specialized lending expertise—from project finance to tax and trade finance—into a single, powerful syndicate. Enfinity’s deal proves that for capital-intensive green projects, the club is the key.
*PPA: Power Purchase Agreement, a long-term contract to sell electricity.
Summary: Enfinity Global’s €315M+ financing is more than just a loan; it’s a strategic club deal. It matters because it showcases the essential role of club financing in funding the green transition, expertly blending senior debt with bespoke credit lines to de-risk and accelerate large-scale solar development.
Source: BeBeez International
