Israel-based Econergy Renewable Energy has secured $ 250 million in financing from RGreen Invest, a French asset manager to promote its investments in renewable energy projects across Europe. RGreen Invest will provide Euro 87.5 million in corporate financing to Econergy International Limited, the Israeli-listed company’s British subsidiary. This would help to expand the company’s pipeline development and growth plans in the UK.
In addition, Euro 163 million will be invested to support the construction of solar and wind projects throughout Europe. Econergy is a solar, wind, and storage project developer with over 7.5 GW of projects under development in countries such as Italy, Spain, the UK, Romania, Poland, and Greece. It intends to connect 4 GW to the grid by the end of 2025.
Recently in July 2022, Aerem secured $2.5 million in a funding round headed by Blume Ventures. The funds raised will be deployed in constructing a technological platform for streamlined engagement with multiple stakeholders and expansion of the loan book and workforce of the company. The Mumbai-based solar finance platform provides financial aid to MSMEs for rooftop solar asset installation.