Fu-Gen secures US$342m for renewables, energy storage and green hydrogen portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
The IPP will make its firsts renewable investments in the UK and Finland later this year as well its first battery storage project. Image: Fu-Gen.

Independent power producer (IPP) Fu-Gen has secured €320 million (US$342 million) in financing for renewables, battery storage and green hydrogen projects across Europe.

The IPP secured funds through three Israeli companies – Migdal Insurance, Menora Mivtachim Insurance and Arkin Group – which will allow it to enter newer markets in the north of Europe.

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

Its first investments in the UK and Finland are planned for later this year, while its maiden battery storage project investment is also expected to take place in 2022.

The Swiss IPP will invest the funds both in greenfield assets as well as projects in late development in the UK and in northern European countries for the next eight years.

Yaron Feingers, CEO and co-Founder of Fu-Gen, said: “Through the Fu-Gen platform, we will scale our investment in, and deployment of, the renewable energy technologies essential to the transition in our core Nordic markets as well as expand into new markets with favourable policy and commercial fundamentals including the UK.”

Fu-Gen currently has a portfolio of 1.5GW renewable assets in different stages of development in Europe.

Read Next

Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
June 24, 2025
Imbalances in investment mean that action will be needed if the solar industry is to help meet the world’s climate change targets.
June 19, 2025
Boralex is driving organic growth across Canada, the US, France, and the UK, fueled by a project pipeline totalling 8GW.
June 17, 2025
The World Bank has approved a loan of around US$600 million to support the development of 540MW of new solar and wind capacity in Indonesia.
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK