RGreen Infuses EUR 250 million in Israel's Econergy Renewable

• The financial investment is expected to be routed via Infragreen IV as well as V Funds of RGreen.
• The fresh funding will directly support the development of solar and also wind projects throughout Europe.

RGreen Invest, the French Asset Manager, has actually revealed that it has actually taken its collaboration with Israel-based Econergy Renewable Energy even more with an additional EUR 87.5 million investment. In total, RGreen is investing EUR 250 million in Econergy.

The additional resources will be invested in the form of equity that will certainly assist Econergy to swell its RE projects' pipeline. The total EUR 250 million investment is anticipated to be transmitted through Infragreen IV and also V Funds of RGreen.

The investment by RGreen right into Econergy will directly support the advancement of solar and also wind projects throughout Europe. Last February, RGreen gave EUR 50 million for the advancement of Econergy's Romanian solar project of 90MW in Parau. The two business are companions in the construction of 4 financial investment projects.

Olivier Guillaume, CIO, RGreen Invest, claimed, "This deal strengthens our long-lasting relationship with Econergy as well as reflects our shared ambition to foster the growth of independent pan-European renewable energy producers and also help them scale up their procedures."

Eyal Podhorzer, CHIEF EXECUTIVE OFFICER, Econergy, said, "We are delighted with the financial investment from the Infragreen funds and also the development of our critical cooperation with RGreen Invest. Our partnership go back to 2016 and has actually continuously grown more powerful as a result of the trust-based partnership in between our groups, as well as the values as well as placement of passions that have actually continually supported it.

" This most recent contract highlights the expanding confidence of capitalists in Econergy's business model and also growth plans, which in 2022 has seen us release the building and construction of utility-scale solar and storage projects in four various markets.

Podhorzer likewise stated that with a pipeline of 224 projects as well as development capacities that are substantial, while there is volatility in the market, Econergy is ready to make the leap to reach this following turning point that will profit all company stakeholders.

Faced Investments

In February this year, Phoenix Insurance, the largest insurer in Israel, stated to provide Econergy EUR 150 million to support the construction of a number of the company's renewable energy projects in Romania as well as Poland. According to the financier, within 60 days of the projects reaching the stage of business operation, Phoenix will deserve to transform the exchangeable loan granted to the projects for 49% of the shareholders' funding as well as owners loans of the project collaborations.