US-based renewable energy player Enfinity Global has raised a substantial $164 million (JPY 26.24 billion) to purchase solar assets in Japan.

The portfolio of acquired assets includes seven currently operating projects and one that is under construction. The company states that the portfolio has an enterprise value of approximately $1 billion.

The new portfolio is expected to produce around 300 GWh annually.

The deal was completed via Macquarie Capital with a syndicate led by Shinhan Asset Management.