SOFAZ acquires stake in 402 MW solar portfolio in Italy
On July 18, 2025, SOFAZ and Enfinity Global, an international renewable energy company, signed an agreement under which SOFAZ will acquire a 49% stake in a portfolio of 402 MW of solar photovoltaic (PV) power plants located in Italy. Upon completion of the agreement, Enfinity Global will maintain its 51% stake and effectively manage these assets, strengthening its strong position in the Italian renewable energy market.
This investment, in line with SOFAZ’s strategic objectives and mandate as a long-term investor, will create a stable and predictable source of income, while also contributing to a sustainable energy transition on a global scale.
As part of the agreement, Enfinity Global is attracting investment partners to its project portfolio in Italy. This will enable the company to secure capital turnover on existing projects and accelerate the implementation of projects with a total capacity of 2.6 GW of solar power and 5.3 GW of energy storage capacity in Italy. As a result, the company’s leading position as an independent power producer (IPP) in the country is further strengthened.
The investment portfolio includes solar power plants, both in operation and under construction, located in the Lazio and Emilia-Romagna regions of Italy. The electricity generated will be sold under long-term power purchase agreements (PPAs), ensuring stable energy prices for consumers and predictable cash flows for investors. The plants in the portfolio are expected to generate approximately 685 million kilowatt-hours (GWh) of clean electricity per year. This represents an annual reduction of approximately 184,950 tons of carbon dioxide equivalent (CO₂e) and meeting the annual energy needs of approximately 250,000 Italian households.
Carlos Domenech, CEO of Enfinity Global, said: “We are pleased to bring SOFAZ as a long-term partner and investor in our first contract-based photovoltaic portfolio in Italy. This investment is a shining example of a sustainable energy transition that is mutually beneficial for all participating countries, investors and consumers.”
Israfil Mammadov, CEO of SOFAZ, noted: “Through this strategic partnership with Enfinity Global, SOFAZ contributes to the provision of competitive and clean energy to meet Italy’s growing energy demand, as well as supporting local economic development and energy security for the population. As a forward-looking global institutional investor, we will continue to evaluate strategic investment opportunities in Italy and Europe in general.”
Enfinity Global was supported by a number of advisory firms in the transaction. Mediobanca served as financial advisor, Legance as legal advisor, and Fichtner as technical advisor.
SOFAZ was provided with mergers and acquisitions advisory support from JLL, legal advisory from Dentons Europe Studio Legale Tributario, financial and tax advisory from EY, and technical advisory from DNV.
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