Capital Injection for Enfinity Supports Global Expansion Strategy in Solar Power

Enfinity, the global renewable energy project developer, announced today that the company is receiving a two-stage capital increase of $56 million (45 million Euros). The new capital is intended to support Enfinity's growth strategy.

Atlanta, GA and Waregem, Belgium - July 9, 2010 -


Enfinity, the global renewable energy project developer, announced today that the company is receiving a two-stage capital increase of $56 million (45 million Euros). The new capital is intended to support Enfinity's growth strategy.

The capital will be directed to Enfinity in two phases:

In the first phase, $24 million (19 million Euros) in cash will be injected by current shareholder Waterland and a small group of investors represented by Marc Coucke (CEO, Omega Pharma). In addition, operational solar parks in Spain and Italy will be brought into the business by the investors for a value of $21million (17 million Euros). These parks were originally developed by Enfinity and represent a capacity of 10.7 MWp.

Mr. Coucke will join the Board of Directors as a representative of the investor group.

In the second phase, Enfinity founders Patrick De Cuyper and Gino Van Neer will inject another $11 million (9 million Euros) in additional capital through a contribution of existing operational solar parks in Belgium.

Enfinity Group CEO Steven De Tollenaere said, "Enfinity is experiencing huge growth at the international level. We will continue building on our strong team and reinforce our solid company structure so that we can continue with our global growth strategy. With this investment, the current shareholders confirm their confidence in the future of commercial renewable energy and Enfinity's role in that future."

In Atlanta, Enfinity Americas CEO Rafael Dobrzynski said, "The outlook for commercial solar energy is very positive. The business case for renewable energy has been proven, offering investors and commercial consumers tangible financial benefits. This latest capital injection will allow Enfinity to consolidate its position as the go-to resource for developing, financing and building solar energy throughout the Americas".

About Enfinity
Enfinity specializes in financing and developing renewable energy projects worldwide, with operations in the U.S., Canada, Europe and Asia. To finance these projects, Enfinity works with individual project companies funded by equity investors and banks. The company also owns its own portfolio of renewable energy installations. Enfinity is currently developing, building and financing solar PV projects and is planning to initiate several hundred megawatts through 2010. Enfinity's 2009 revenues were over $300M and it is currently active in 21 countries. For further information, visit: www.enfinitycorp.com


Media contact:

Vin Staniforth
Enfinity, Marketing Manager Americas
(770) 670 5811
vstaniforth@enfinitycorp.com

Featured Product

Iron Edison Lithium Iron Battery

Iron Edison Lithium Iron Battery

Iron Edison's Lithium Iron battery is for solar PV energy storage and compatible with 12-volt, 24-volt and 48-volt battery-based inverters. Available in a wide range of residential storage capacities, custom high-voltage models are also available for commercial applications like peak load shaving and UPS. Iron Edison's battery uses Lithium Iron Phosphate cells (LiFePO4), known to be the safest type within the lithium-ion family. Iron Edison's battery includes an integrated Battery Management System and DC disconnect for maximum safety. All components are housed inside a steel enclosure with removable lid.