(Boursier.com) — Econergy Renewable Energy, European leader in the investment, development and operation of renewable energy projects, is strengthening its strategic collaboration with the independent French management company, RGREEN INVEST, by securing an investment target of 250 million euros at corporate and asset level.
RGREEN INVEST is providing €87.5 million in corporate financing to Econergy International Limited, the UK subsidiary of the listed Israeli company, based on a pre-money valuation of €350 million, which will be used to support the development of their pipeline and their growth ambitions in Europe. Econergy will provide engineering, procurement and construction management (EPCm) services as well as European project management services for a minimum of ten years.
At the same time, 163 million euros are earmarked for the construction of Econergy’s solar and wind projects across Europe, including 50 million euros already committed by RGREEN INVEST for the construction, which began this year, of an installation solar with a capacity of 92 MW located in Parau, Romania. The transaction will be carried out through the INFRAGREEN IV and V funds (the latter being raised) of RGREEN INVEST.
The operation marks a new stage for the partnership of RGREEN INVEST and Econergy, already partners on four investment projects, and will enable Econergy to develop its portfolio of renewable projects and broaden its scope of action in Europe after having succeeded in mobilizing more than 500 million euros in investments over the last year.
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