Econergy Renewable Energy secures over €200 million in project finance partnerships with Phoenix Insurance and RGREEN INVEST for Romanian and Polish renewable energy projects

Econergy Renewable Energy Ltd. has secured a multi-faceted €200 million project finance package, strategically blending debt and equity to advance its renewable energy pipeline across Romania and Poland. A notable component of this financing is Phoenix Insurance's €150 million commitment, which includes a convertible loan, offering the insurer potential equity upside in Econergy Renewable Energy beyond a standard debt instrument. This structure provides Econergy Renewable Energy with flexible capital for the development, construction, and maintenance of its projects in these two European markets. Separately, RGREEN INVEST is providing €50 million in equity and capital loans, specifically targeting a 90 MW solar project located in Parau, Romania. This targeted investment by RGREEN INVEST ensures dedicated funding for a significant individual asset within Econergy's broader portfolio. The overall €200 million capital injection positions Econergy Renewable Energy to accelerate its regional expansion. This €200 million financing package significantly bolsters Econergy's ambitions as a Tel Aviv-based renewable energy developer and IPP, directly supporting its substantial European pipeline of over 16 GW of solar PV and wind projects and 10 GWh of battery storage. For RGREEN INVEST, a French investment management company with over €4 billion in assets, the €50 million commitment to the 90 MW Parau solar project in Romania aligns precisely with its specialization in financing energy transition infrastructure and climate change mitigation. Phoenix Insurance's €150 million investment, including the convertible loan, positions the insurer to participate in the growth of the European renewable energy sector. The deployment of this capital into Romanian and Polish renewable assets by these international financial partners underscores continued investor confidence in Central and Eastern European energy transition opportunities.