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A European independent power producer is expanding its ******* et base on the continent. Israel-headquartered Econergy on September 15 said it is entering the French market with a €134-million ($155 million) acquisition of Escofi, a private wind energy platform of about 740 MW.Econergy, which has offices across Europe, said the deal significantly expands the company's European wind ******* et base, bringing its total renewable portfolio to 13 GW. Escofi, founded in 1988, originates, finances, builds, and operates onshore wind projects, with its wind energy portfolio across four development stages: 128 MW in commercial operation, 34 MW under construction, 147 MW in advanced development stage (with building permits and grid connection approvals in place and construction due to commence between 2028 and 2030), and 432 MW in early and mid-stage development.Escofi's portfolio is concentrated in the Hauts-de-France and Grand Est regions of northern France, which officials said have the strongest onshore wind conditions and regulatory environments in the country.
More than 90% of Escofi's operational and under-construction capacity benefits from 20-year contracted revenues under France's Contracts for Difference (CfDs) regime, providing a stable, long-term revenue stream for the portfolio. Escofi in July of this year secured additional CfDs for three more projects totaling 46 MW at prices above €80/MWh ($92/MWh) for 20-year terms, further strengthening the portfolio's contracted revenue base."The acquisition of Escofi is a significant strategic step for Econergy, establishing our presence in France and materially expanding our European wind platform," said Eyal Podhorzer, CEO of Econergy. "Escofi brings us a proven, 37-year-old French onshore wind operator with a high-quality operational fleet and a strong pipeline of projects with 20-year CfD revenues located in the best wind regions in France. Combined with our existing European platform, this gives Econergy a stronger and more geographically diversified base of long-term, contracted cash flows to build on."Escofi's 309 MW of operational, under-construction, and advanced-development projects are expected to generate annual revenues of €59-65 million and EBITDA of €47-53 million on a representative-year basis. By 2030, on completion of the projects under construction and the 147-MW advanced pipeline, Escofi's operational capacity is expected to reach about 300 MW, with project-level EBITDA of about €42–44 million. Escofi's effective ownership across projects stands at about 91%, and the 432-MW early- and mid-stage pipeline provides the platform's long-term growth runway, according to the company.
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More than 90% of Escofi's operational and under-construction capacity benefits from 20-year contracted revenues under France's Contracts for Difference (CfDs) regime, providing a stable, long-term revenue stream for the portfolio. Escofi in July of this year secured additional CfDs for three more projects totaling 46 MW at prices above €80/MWh ($92/MWh) for 20-year terms, further strengthening the portfolio's contracted revenue base."The acquisition of Escofi is a significant strategic step for Econergy, establishing our presence in France and materially expanding our European wind platform," said Eyal Podhorzer, CEO of Econergy. "Escofi brings us a proven, 37-year-old French onshore wind operator with a high-quality operational fleet and a strong pipeline of projects with 20-year CfD revenues located in the best wind regions in France. Combined with our existing European platform, this gives Econergy a stronger and more geographically diversified base of long-term, contracted cash flows to build on."Escofi's 309 MW of operational, under-construction, and advanced-development projects are expected to generate annual revenues of €59-65 million and EBITDA of €47-53 million on a representative-year basis. By 2030, on completion of the projects under construction and the 147-MW advanced pipeline, Escofi's operational capacity is expected to reach about 300 MW, with project-level EBITDA of about €42–44 million. Escofi's effective ownership across projects stands at about 91%, and the 432-MW early- and mid-stage pipeline provides the platform's long-term growth runway, according to the company.
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