Econergy and Rivage Investment secure £128 million debt financing for European renewable PV, wind, and storage projects

Econergy and Rivage Investment have secured £128 million in debt financing, a crucial capital injection designed to accelerate the development of Econergy's extensive European renewable energy pipeline. This financing specifically targets a hybrid portfolio encompassing PV, wind, and battery storage projects across four distinct European markets: Italy, Poland, the UK, and Romania. The multi-country and multi-technology structure of this debt facility offers Econergy significant flexibility in deploying capital, mitigating single-market regulatory or resource risks while advancing its stated focus on utility-scale assets. For Rivage Investment, providing this debt capital secures exposure to a diversified portfolio of renewable assets under development by an experienced IPP, spreading investment risk across geographies and technologies. Tel Aviv-based Econergy, an independent power producer, directly benefits from this funding to progress its substantial 16 GW solar PV and wind project pipeline, alongside 10 GWh of battery storage capacity across Europe. Marathon Capital, an independent investment bank focused exclusively on the clean economy and energy transition, advised on the financing, underscoring the specialized expertise required for such a complex, multi-jurisdictional deal. Legal counsel was provided by Ashurst for the buy-side and Squire Patton Boggs for the sell-side, facilitating the agreement for the announced 2024-02-14 transaction. This capital deployment allows Econergy to convert its significant development pipeline into operational assets, expanding its footprint in key European renewable markets.