Israel Econergy Renewable Energy Co., Ltd. has agreed to establish two joint ventures that will bring $ 200 million ($ 226.2 million) to support its project development in Romania and Poland. This renewable energy developer said on Friday (February 18), will receive 150 million euros from the Israeli insurance company Phoenix Insurance, divided into 11.5 million euros of convertible loans and 39.75 million euros. Permanent loan. These funds will be used for several renewable energy projects in Econergy in Romania and Poland, which are planned to be invested in 2022. The agreement gives Phoenix to convert more debt financing into 49% shareholder capital and project partnership owner’s loans. This option will be implemented within 60 days of factory commercial operation. In addition, French Asset Management RGreen Invest will provide Econergy equity and loans to ECONERGY to support the Israeli company’s 90 megawa full license solar project in Romania Palau. Photovoltaic power generation (PV) will be built in the second quarter of this year, the most late 2023 in the first quarter. In Romania, ECONERGY pointed out that more than 1.5 GM projects are preparing, and its Polish portfolio includes more than 550 MW projects that are being developed. This Israeli wind energy, solar and energy storage project developers have a pipe with more than 6 GW in Europe.