Independent power producer Econergy has secured €150m debt funding from Rivage Investment to support its wind, solar and storage projects in Europe.
Econergy said the funding would support the delivery of its project pipeline, which is focused on its main target markets Italy, Poland, Romania and the UK. The company said it has projects totalling 8.5GW in development.
This deal also enabled Econergy to take full ownership of 440MW projects in Italy that it jointly developed with UBS.
Eyal Podhorzer, co-founder and chief executive of Econergy, said: “The investment, alongside our decision to buy UBS’s shares in our Italian pipeline, demonstrates Econergy’s proactive and successful year so far, progressing our strategy to become an independent power producer, owning projects from conception to commercial operations.”
Hervé Besnard, chief executive of Rivage Investment, said: “We share Econergy’s mission of contributing to produce power with purpose and to promote the decarbonisation of power grids in countries as diverse as Italy, the UK, Poland and Romania.”