CarVal Investors, an established global alternative investment manager, and Enfinity Global, a renewable energy and services platform, entered into a $300 million loan facility to fund the development of Enfinity’s three gigawatts of renewable energy projects.
The International Renewable Energy Agency (IRENA) estimates that a $131 trillion investment will be required in order to achieve Net Zero CO2 emissions by 2050. This could mitigate a global temperature rise to 1.5ºC.
“We are very pleased to have CarVal as a partner in our journey,” Carlos Domenech, CEO of Enfinity Global, said. “Together we have designed a $300 million facility that aligns sustainable investment guidelines with the execution capabilities required to be a leader in the net zero carbon economy.”
“We are excited to support Enfinity Global’s growth and leverage our combined expertise,” Jonathan Hunt, managing director for CarVal Investors, said.