Israel-headquartered Econergy said on September 15 that it is entering the French market with a €134 million ($155 million) acquisition of Escofi, a private wind energy platform of about 740 MW. The deal significantly expands the company's European wind asset base, bringing its total renewable portfolio to 13 GW. Escofi, founded in 1988, originates, finances, builds, and operates onshore wind projects across four development stages: 128 MW in commercial operation, 34 MW under construction, 147 MW in advanced development, 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 regime. In July, Escofi secured additional CfDs for three projects totaling 46 MW at prices above €80/MWh ($92/MWh) for 20-year terms. Econergy CEO Eyal Podhorzer said the acquisition establishes the company's presence in France and materially expands its European wind platform.
The transaction is supported by a long-standing partnership with RGREEN INVEST, a shareholder since 2021 through its INFRAGREEN equity strategy. Marathon Capital acted as buy-side advisor, KPMG as financial and tax advisor, and Linklaters as legal advisor. Econergy's European platform now includes eight markets, and its development pipeline exceeds 13 GW, including 6 GW of storage. The company also sees repowering potential across many operating assets, with one repowering project underway and a second having won a recent CfD tender.
What remains unknown from the single source is the transaction's closing timeline, financing structure beyond the stated purchase price, and any regulatory approvals required in France. The dossier does not specify Escofi's existing ownership or how the acquisition will affect Econergy's near-term capital expenditure. The reported revenue and EBITDA figures for Escofi's 309 MW of operational, under-construction, and advanced-development projects are described as representative-year estimates, not guaranteed results.