Econergy Renewable Energy has announced the signing of a project finance agreement to support a portfolio of 12 solar PV projects in Italy, with a total capacity of around 64.3MW.
On 26 September 2025, Eco Holdco 1 S.r.l., wholly owned by EcoGreenDev (Lux), finalised the deal with UniCredit S.p.A.
The financing, worth approximately €58m, marks Econergy’s first project-level funding in Italy. According to the company, the agreement “represents a milestone in advancing Econergy’s Italian portfolio.”
The company expects a near-term financial close for eight projects (about 23MW), with the remaining four (around 41MW) to follow once they reach Ready-to-Build status.
While subject to conditions precedent, the transaction is viewed as a step forward in strengthening Econergy’s Italian pipeline and supporting its broader European strategy.
The financing package includes facilities to cover construction, VAT, guarantees, debt service, and a True-Up facility linked to the execution of the power purchase agreement. Funds will be drawn down in stages, starting with the first cluster of eight projects and later extending to the second cluster.
Econergy noted that the funding will “be used primarily to fund and/or refund construction and development costs, and support VAT, guarantees, debt service, and a True-Up facility.”
Italy forms one of Econergy’s main European growth markets, with a development pipeline of about 2.5 GW.
The company stated that the deal “not only reflects confidence in the Company’s development and execution capabilities but also demonstrates Econergy’s financial strength and commitment to expanding its portfolio of connected and under-construction projects across Europe.”
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