Econergy enters France with $160M wind acquisition

What's the deal? Israeli independent power producer Econergy Renewable EnergyDealroom has a profile for this one. Try Dealroom → has acquired French onshore wind developer EscofiDealroom has a profile for this one. Try Dealroom → for $160 million (EUR 134.3 million). The deal hands Econergy a 740-MW portfolio and its first foothold in the French renewables market.

What's the endgame? The acquisition marks Econergy's entry into France, one of Europe's largest onshore wind markets. It adds an established local developer and a sizeable project pipeline to the company's European footprint.

Why now? European renewables dealmaking has been brisk, with developers racing to consolidate pipelines. The same week saw MasdarDealroom has a profile for this one. Try Dealroom → and LuxcaraDealroom has a profile for this one. Try Dealroom → form a EUR 5 billion battery and offshore wind tie-up, and PalisadeDealroom has a profile for this one. Try Dealroom → buy 1.4 GW of wind and battery developments in Australia.

The signal: Buying into a market via an established platform is becoming the default path for independent power producers scaling across Europe. For Econergy, the $160 million deal is a shortcut to scale in a market it did not previously serve.

Read more: renewablesnow.com

Image credit: Generated with Gemini