Econergy closes €60 million funding facility for 155MW Ratesti solar project in Romania

The €60 million funding facility secured by Econergy from Raiffeisen bank International AG provides crucial late-stage capital for the 155MW Ratesti solar project in Romania, enabling its imminent grid connection. This financing mechanism allows Tel Aviv-based Econergy to de-risk a substantial utility-scale asset as it transitions from development to operational status. For Raiffeisen bank International AG, the transaction represents a direct investment in a near-completion renewable energy asset, offering a clear path to revenue generation once the Ratesti project begins supplying power. The deal structure, a funding facility, suggests a tailored approach to support the final stages of a large-scale solar development in the Romanian market. This capital injection ensures the 155MW capacity adds to Romania's energy mix without further equity strain on Econergy for this specific project. This €60 million facility advances Econergy's stated focus on utility-scale renewable energy development across Europe, adding a 155MW solar asset to its extensive pipeline. With over 16 GW of solar PV and wind projects and 10 GWh of battery storage under development across Europe, Econergy demonstrates its capability to bring large projects like Ratesti in Romania to financial close and grid connection. For Raiffeisen bank International AG, providing €60 million for a 155MW solar project in Romania aligns with financing tangible infrastructure assets in the European market. This deal further evidences Econergy's execution track record in securing project-level debt for its European portfolio.