Waregem, Belgium [RenewableEnergyWorld.com] Renewable energy project developer, Enfinity Management confirmed this week that it has received a US $62 million capital investment from Waterland Private Equity Investments. The capital will allow Enfinity to accelerate its growth in the 12 countries in which it already has a presence, made up mostly of countries in Europe, Asia and North America and also to develop its position in new countries.
Enfinity Americas General Manager, Geert Ramault told RenewableEnergyWorld.com that the U.S. will play a major role in Enfinity’s future growth plans.
“We are extremely pleased to complete such a significant achievement, especially in the current investment environment. This provides strong support for our plans in the US. In the near term, the US office will continue to focus primarily on solar projects, both distributed generation and utility scale. We have built a strong staff in the US and expect significant breakthroughs in the market in 2009,”Ramault said.
Enfinity will use the investment to develop solar power projects for commercial and residential rooftops as well as ground mounted projects. The company also said that wind energy will now begin to constitute a larger part of its renewable energy development strategy.
Waterland will have a 5 to 7-year presence in the company as an active shareholder with a view to the further development of Enfinity. The company could remain as a partner for longer though according to Cédric Van Cauwenberghe, investment director with Waterland.