Econergy has secured approximately €58 million in project financing from UniCredit to support the construction of a 64-megawatt (MW) solar portfolio in Italy, the renewable energy developer said on Monday.
The funding will cover the development of 12 photovoltaic sites and marks Econergy’s first project-level financing agreement in the Italian market.
“This financing agreement with UniCredit represents a significant milestone for Econergy. It reflects the confidence of one of Europe’s leading financial institutions in our ability to deliver renewable energy projects at scale,” said Eyal Podhorzer, chief executive of Econergy.
The company said the deal underscores lender confidence in its development and execution capabilities. The financed projects are part of Econergy’s broader pipeline in Italy, which currently stands at around 2.5 gigawatts (GW). The Italian pipeline is included in a wider European portfolio exceeding 13GW, covering solar, wind, and energy storage assets.
Podhorzer added that the agreement “strengthens our commitment to driving the energy transition across Europe.”
Econergy, which is active in several European markets, has been expanding its renewable energy footprint through both greenfield development and strategic partnerships. The company aims to bring a significant portion of its pipeline to financial close over the coming years.
