Luthra and Luthra Law Offices India advised Intermediate Capital Group
Luthra and Luthra Law Offices India (Firm) advised Intermediate Capital Group (ICG) in its investment of €400 million equity investment to fund Enfinity Global Inc (Enfinity).
ICG provides flexible capital solutions to help companies develop and grow. It is a leading global alternative asset manager with over 30 years’ history, managing $82.1 billion of assets and investing across the capital structure. It operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
Enfinity, together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2018. Enfinity owns a portfolio of 17 GW of renewable energy production and storage projects, including operational assets, under construction, and in different stages of development. With offices across US, Asia, and Europe, Enfinity aims to make a significant contribution to the transition to a net zero carbon sustainable economy.
The Firm conducted diligence on the five Indian entities of Enfinity and advised ICG on ascertaining various conditionalities of the proposed transaction.
Mr. Guillaume d’Engremont, Head of Infra at ICG, stated, “We are excited to be partnering with Enfinity, a market-leading solar energy company, with a clear vision of supporting the transition to a net zero carbon economy. The investment underpins our approach of supporting entrepreneurial and visionary founders who are committed to making meaningful contributions to a more sustainable economy.”
Mr. Carlos Domenech, CEO of Enfinity Global, added, “We are very pleased to partner with ICG in order to accelerate the execution of our projects and address our customers’ 24/7 renewable energy needs. ICG’s strong track record in enabling companies to scale, and their vision for the future of the industry, makes them the perfect partner for Enfinity”.
According to a Press Release by ICG, “The investment further underpins ICG Infra’s strategy of investing in market leading businesses within the renewable energy sector in Europe and the US which have an active role in supporting the transition to net zero. ICG Infra will work with Enfinity’s management team to build and operate the existing projects in the long-term, whilst continuing to support organic and inorganic expansion.”
The transaction team was led by Partners, Girish Rawat, Navin Syiem who were ably assisted by Senior Associate, Sidhartha Jatar and Associates, Abhinav Singh, Ishita Bajaj and Shaurya Jakher.