Econergy has secured about €58m in project financing from UniCredit to support the construction of a 64MW solar portfolio in Italy.
The deal marks the company’s first project-level financing in the Italian market and will back 12 photovoltaic sites.
Econergy said the agreement underlines lender confidence in its development and execution capabilities.
The company is progressing an Italian pipeline of roughly 2.5GW within a wider European pipeline of more than 13GW, spanning solar, wind and storage.
Chief executive Eyal Podhorzer said: “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.”
He added that the deal “strengthens our commitment to driving the energy transition across Europe.”