Wednesday, February 8 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Feb 06
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Israel's Econergy gets EUR-250m cash boost to grow in Europe


    November 21, 2022 - SeeNews Renewables

     

      November 21 (Renewables Now) - French independent asset manager Rgreen Invest has injected EUR 250 million (USD 260.6m) into Israel’s Econergy Renewable Energy Ltd to support the power producer’s investments in renewable energy projects across Europe.

      Under the arrangement, Rgreen will provide EUR 87.5 million in corporate financing to Econergy International Limited, the British subsidiary of Econergy Renewable, while an additional EUR 163 million will go directly to the parent company, the latter said on Friday.

      The fresh capital is seen to enable Econergy’s UK unit to strengthen its pipeline development and growth plans. Meanwhile, the investment in Econergy Renewable will back the construction of solar and wind farms across Europe, including a 92-MW photovoltaic (PV) park in Parau, Romania, which recently entered construction with a EUR-50-million commitment from Rgreen.

      Rgreen’s latest investment will be made through its Infragreen IV and V funds.

      Econergy develops solar, wind and storage projects and has more than 7.5 GW of projects under development in Italy, Spain, the UK, Romania, Poland and Greece. The company’s goal is to have 4 GW of grid-connected capacity by end-2025.

      “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,” said Eyal Podhorzer, Econergy's CEO.

      (EUR 1.0 = USD 1.042)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.