Gruppo Energia Inc.
Gruppo Energia: ENEFIIN in November 2021 has completed the acquisition of a minority stake in Gruppo Energia Inc. This strategic joint venture will be based on the development of solar and storage projects located in North America and Caribbean. Enefiin is located in Italy and Gruppo Energia is located in Toronto, Canada.
Gruppo Energia aims to secure financing for upcoming projects in the Caribbean and North America. The focus will be on structuring JVs with global developers for the planning and construction of solar projects. Enefiin will assist in locating suitable investors to facilitate the development of up to 500 MW of solar projects in Cuba.
“We are very enthusiastic about this partnership which will allow us to support Gruppo Energia to enter in the US and Caribbean market which is aggressively adding renewable energy projects to improve the resiliency of the grid and reduce dependency on fossil fuels. Given the terms of the signed PPAs these projects are suitably de-risked and the financial returns in this market are quite exceptional ” says Luciano Pellettieri, CEO of ENEFIIN Group. Gruppo Energia is looking to establish a presence in the Caribbean renewable energy market and later assist in delivering renewable energy into Latam markets in addition to the US .