Israel-based Econergy Renewable Energy Ltd. announced financial backing for its Resko solar project in Poland. PKO Bank Polski provided €33 million (~$35.54 million) in senior debt financing, supporting the project’s development and stability. Additionally, Phoenix Financial converted €4.2 million (~$4.52 million) of its loan into a 49% equity stake in Resko, Phoenix’s first equity involvement in Econergy’s Polish venture. The partnership with Phoenix Financial also includes options for equity in four upcoming projects in Romania, totaling approximately 200 MW.
PKO Bank, Phoenix back Econergy’s Resko PV project in Poland with €33 million
Phoenix Financial converts €4.2 million into equity in Econergy’s Resko project, gaining 49% ownership in Poland’s renewable energy sector. (Image Source: Ecoenergy Renewable Energy Ltd/Linkedin)
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