星期三, 9 7 月, 2025
Home PV News Europe Econergy receives US$259 million investment for European renewables pipeline

Econergy receives US$259 million investment for European renewables pipeline

Source:PVTECH

Renewables developer Econergy and French financier RGREEN INVEST have expanded their financial partnership with an additional €250 million (US$259 million) of project-specific investment.
RGREEN will provide €87.5 million (US$90 million) – at a pre-money valuation of €350 million (US$363 million) – to the British subsidiary of Econergy to strengthen the company’s pipeline of projects in the UK. Econergy will provide engineering, procurement and construction management, as well as asset management, services for its UK projects for a minimum of ten years.
In addition, RGREEN INVEST will provide €163 million (US$169 million) to finance the construction of Econergy’s solar and wind projects across Europe. This includes the two companies’ previous financial collaboration on projects in Romania.
“This latest agreement highlights the growing confidence of investors in Econergy’s business model and growth plans, which in 2022 has seen us launch the construction of utility-scale solar and storage projects in four different markets,” said Econergy CEO Eyal Podhorzer.
“With a pipeline of 224 projects and development capabilities that are significant, while there is volatility in the market, we are ready to make the leap to reach this next milestone that will benefit all company stakeholders.”
Econergy has a significant foothold in the UK and Europe already. In January of this year, PV Tech sister site Current± reported that the company had acquired a 50MW/100MWh battery storage system to kickstart its 800MW UK project pipeline.
Last year, Econergy acquired a 155MW solar PV plant in Romania and in February it received a €200 million (US$207 million) investment to develop its pipeline in the Eastern European country.
This is the fifth partnership between Econergy and RGREEN INVEST, and sees Econergy raising over €500 million (US$518 million) in the last year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Al Kharsaah: A Pioneering Solar Power Plant in Qatar

Located 80 km west of Qatar's capital, Doha, the Al Kharsaah Solar PV Independent Power Producer (IPP) project is the country's first large-scale solar...

OMV Petrom Buys 50 Pct Stake in Gabare Solar Project

OMV Petrom S.A. has acquired a 50 percent stake in the Gabare solar project from Enery Element, a large-scale project in Byala Slatina, near...

RWE 7.5MW/11MWh battery energy storage start commercial operation in Netherlands

Power generation firm RWE has put a BESS in the Netherlands into commercial operation, its first that is capable of providing inertia to the...

Gurīn Energy selects Saft’s battery energy storage system for first Japanese project

Saft, a subsidiary of TotalEnergies, has been selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS)...