Econergy bags funding to progress renewables pipeline in Romania, Poland

Facebook
Twitter
LinkedIn
Reddit
Email
A PV plant from ReneSola in Poland. Image: ReneSola Power.

Renewables investor and developer Econergy has secured more than €200 million (US$227 million) through two joint ventures (JVs) to support the construction of part of its project pipeline in Eastern Europe.

A €150 million loan will be provided by Israeli insurance company Phoenix Insurance for the construction of a host of Econergy’s renewables plants in Romania and Poland that are expected to break ground this year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

A separate JV with RGreen Invest will see the French asset manager provide around €50 million in equity and a loan for a 90MW solar PV project in Romania that is due to start construction in Q2 of this year and be connected to the grid before April 2023.

Listed on the Tel Aviv stock exchange, Econergy’s current renewables pipeline includes more than 1.5GW of projects in Romania and over 550MW in Poland. The company recently acquired a 50% stake in a 155MW ready-to-build PV plant in Romania from real estate developer Portland Trust.

“Romania and Poland both represent key target markets for Econergy, and these joint ventures will support the timely and effective delivery of our projects in these countries,” said Eyal Podhorzer, Econergy CEO.  

With around 1,460MW of installed PV capacity as of last year, Romania’s solar sector is set to be boosted by new projects from the likes of renewables developer Grasshopper Energy and new clean energy development platform Aukera Energy, which has secured the backing of investment company AtlasInvest.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA