Econergy and Rivage Investment have agreed €150m in debt financing to progress a pipeline of European renewable energy projects.
Econergy is a publicly traded independent power producer (IPP) and the deal will support the delivery of a pipeline of European solar, wind and storage sites.
It will also support the ongoing development and construction in Econergy’s primary target markets of Italy, Poland, the UK and Romania.
The agreement for the new injection of funds has been signed between Rivage Investment, an independent asset management company specialising in the financing of sustainable infrastructure, and Econergy International Limited UK, a subsidiary of Econergy Renewable Energy Ltd.
Rivage Investment is a French asset manager with holdings under management of €7.7bn, specialising in the financing of sustainable infrastructure and essential resources.
Rivage’s investment comes as Econergy has also bought out UBS’s share of its joint-developed Italian renewable projects.
This means that Econergy will now take full ownership of approximately 440MW (on completion) worth of previously jointly owned projects, marking the latest stage in Econergy’s strategic transition from a service provider and developer to an IPP.
