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The renewable energy company will expand its Scurtu Mare PV system in Romania into a hybrid plant after securing €25 million in refinancing and an additional €12 million investment.
The agreement marks Econergy’s first virtual power purchase in Poland and forms a cornerstone of the company’s project financing strategy.
The developer is integrating battery storage across its 3.3 GW Romanian PV pipeline, supported by €150 million in government funding and grid fee exemptions.
2024 saw considerable growth phases as well as uncertainties around legislation and infrastructure readiness in several European markets. Wolf Dietrich, Senior Director Development, UK & Europe of Econergy, summarises the key challenges and provides an outlook on growth trends and success factors for 2025.
Econergy Renewable Energy won the recent Romanian Contract for Difference (CfD) auction with the Parau 2 solar project. Additionally a second project financing agreement was signed with Raiffeisen Bank International (RBI).
Econergy UK, has signed a financing agreement for €28 million in project funding for the Iancu Jianu solar photovoltaic (PV) project in Romania. The project, which has an installed capacity of approximately 58 MW, is currently under construction and expected to be connected during 2025.
Israel headquartered Econergy Renewable Energy, announced the successful commercial operation of its first solar projects in Italy. The company now owns and manages six solar parks in Italy with a total capacity of about 20 MW.
Econergy Group signed a financing agreement as well as a route-to-market agreement with Goldman Sachs through Econergy UK to support the Swangate Project with an installed battery capacity of 102MWh. Connection to he electricity grid is expected by end of 2024.
