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Capital increase of 45 million Euro should allow Enfinity to become one of the top 5 in the world
The capital increase takes place in two stages
In a first stage, 19 million Euro in cash will be injected by current shareholder Waterland and by a group of investors around Marc Coucke, including property developers De Spieghelaere and Versluys, the Buyse family and Mr. Van Oostenryck. In addition, the operational solar parks in Spain and Italy will be brought into the business by the investors for a value of 17 million Euro. These parks were historically developed by Enfinity and represent a capacity of 10.7 MWp. Marc Coucke and Ivan Lokere will join the Board of Directors in the capacity of representatives of the group of investors.
In a first stage, 19 million Euro in cash will be injected by current shareholder Waterland and by a group of investors around Marc Coucke, including property developers De Spieghelaere and Versluys, the Buyse family and Mr. Van Oostenryck. In addition, the operational solar parks in Spain and Italy will be brought into the business by the investors for a value of 17 million Euro. These parks were historically developed by Enfinity and represent a capacity of 10.7 MWp. Marc Coucke and Ivan Lokere will join the Board of Directors in the capacity of representatives of the group of investors.
In a second stage, the founders of Enfinity, Patrick De Cuyper and Gino Van Neer, will inject another 9 million Euro in additional capital through a contribution of existing operational parks in Belgium.
Current shareholders confirm confidence
With this investment the current shareholders confirm their confidence in the commercial development of renewable energy, but especially in Enfinity’s promising future. In addition, Enfinity also welcomes new investors with a unique industrial view on sustainable economy, mainly thanks to business angel Marc Dewaele. “On behalf of Enfinity I would like to give them a special thanks for the confidence they have given us from the start and that has enabled us to evolve into the world player we are today”, says Patrick De Cuyper.
New management structure goes for growth
The capital increase is on the one hand a logical result of the ambition recently voiced by Enfinity to penetrate the market of the electricity producers and demonstrates on the other hand the confidence of the shareholders in the new management structure, which clearly goes for grow.
The capital increase is on the one hand a logical result of the ambition recently voiced by Enfinity to penetrate the market of the electricity producers and demonstrates on the other hand the confidence of the shareholders in the new management structure, which clearly goes for grow.
With Steven De Tollenaere (41), appointed CEO of the Enfinity Group as per 15 June 2010, the company has an experienced leader to facilitate the expansion of Enfinity. “Enfinity is experiencing huge growth at the international level. We will keep on building on a strong team and a solid company structure so as to continue supporting this global growth successfully. Enfinity holds a unique position in the PV market thanks to our ‘first mover strategy’, which gains us an advantage in many countries", according to Steven De Tollenaere.
Enfinity Power
Enfinity’s long-term strategy includes the development of green electricity production in full ownership in addition to the pure development activities. Through Enfinity Power, the company wants to take up the challenge with the established electricity producers and offer its own green electricity on the business market. The new Enfinity business model will assure the company of a recurrent and predictable source of income. This capital increase is a first step in this direction with an eye to further expanding this line of business in the future.
Hans De Backer will use his expertise in the field of corporate finance and investments in his capacity as CEO of Enfinity Power and CFO of the Enfinity Group.
Enfinity’s long-term strategy includes the development of green electricity production in full ownership in addition to the pure development activities. Through Enfinity Power, the company wants to take up the challenge with the established electricity producers and offer its own green electricity on the business market. The new Enfinity business model will assure the company of a recurrent and predictable source of income. This capital increase is a first step in this direction with an eye to further expanding this line of business in the future.
Hans De Backer will use his expertise in the field of corporate finance and investments in his capacity as CEO of Enfinity Power and CFO of the Enfinity Group.
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