אייל פודהורצר, מנכ״ל ומייסד שותף אקונרג׳י בשיחה עם אתי אפללו

Summary

Eco Energy, an Israeli renewable energy company, is expanding its operations in Europe, focusing on solar, wind, and migration projects. CEO Eyal explains the company’s approach to entering new markets, emphasizing the importance of local knowledge, regulatory environments, and grid infrastructure. The company’s success is rooted in its ability to develop profitable projects with a lower cost base. Eyal also discusses how international investors are increasingly turning to Europe post-Russia-Ukraine war, and how Eco Energy’s rapid growth aligns with Europe's ambitious renewable energy goals, particularly in countries like Germany and Romania.

Takeaways

• 😀 Eco Energy operates across multiple European markets, including England, Italy, Romania, Germany, Poland, Greece, and Spain, with a focus on renewable energy projects like solar and wind.
• 😀 The company considers several criteria when entering new markets, including market size, long-term goals, grid connection infrastructure, and profitability potential.
• 😀 The impact of the Russia-Ukraine war has accelerated the push for energy independence in European countries, which has driven up renewable energy targets and regulations.
• 😀 Eco Energy leverages its Israeli roots while positioning itself as a local player in each European market to better navigate regulatory and operational challenges.
• 😀 Eco Energy’s main competitive advantage is its ability to develop projects locally at a lower cost, which translates to higher profitability compared to other players who rely on co-financing or high-level projects.
• 😀 The company is deeply invested in long-term projects, with some in countries like England having connection dates set as late as 2029–2031.
• 😀 Renewable energy is seen as the future for Europe, with countries like Germany pushing for significant growth, aiming for 80% renewable energy by 2030 and 100% by 2035.
• 😀 Eco Energy's international presence allows it to attract foreign investment, capitalizing on Europe's growing interest in renewable energy projects amidst the decline of fossil fuels.
• 😀 By developing projects directly, Eco Energy retains flexibility and can bring in partners like Phoenix, who have already invested heavily in their projects, ensuring financial stability and growth.
• 😀 The company is targeting massive growth, aiming for 2 gigawatts of connected projects by 2025 and a continued 1.5 gigawatt expansion annually beyond 2026.

Q & A

What are the main criteria Eco Energy uses when considering entering a new market?

Eco Energy evaluates several key factors when entering a new market: market size, the country’s renewable energy goals, grid connectivity, profitability, and the company’s long-term position in the market.

How has the Russia-Ukraine war impacted Eco Energy’s approach to renewable energy in Europe?

The war has prompted European countries to prioritize energy independence, leading to higher renewable energy targets and the introduction of beneficial programs, which has opened up more opportunities for companies like Eco Energy.

What is Eco Energy's approach to local vs. regional operations in European markets?

Eco Energy operates both locally and regionally. It maintains local offices in each market to ensure a strong presence and local expertise, while also coordinating regional activities like procurement and finance across multiple countries.

Why does Eco Energy see itself as a local player in the renewable energy market, despite being an Israeli company?

Eco Energy sees itself as a local player because it focuses on developing projects on the ground in each country, leveraging local knowledge and cost efficiencies to drive profitability, rather than just acting as a foreign investor.

What role does grid connection play in Eco Energy’s market entry decisions?

Grid connection is a critical factor, as many European countries face network throttling. Eco Energy looks for countries that are investing in improving grid infrastructure to ensure that new renewable projects can be connected efficiently.

How does Eco Energy differentiate itself from other players in the renewable energy sector?

Eco Energy differentiates itself by being a local, hands-on player. It focuses on project development from the ground up, keeping costs lower and creating more profitable opportunities, as opposed to relying on high-level co-financing agreements.

What is Eco Energy's strategy for raising capital for its projects?

Eco Energy has successfully raised capital through both equity and debt, often securing funds from European investors and local markets. This allows the company to fund large-scale renewable projects across Europe.

Why did Eco Energy decide to enter the German market, and what is its strategy there?

Eco Energy entered the German market after recognizing the country’s ambitious renewable energy goals. With Germany aiming for 100% renewable energy by 2035, Eco Energy sees significant opportunities in solar, wind, and hybrid projects, and aims to become a major player in the country.

What are Eco Energy’s growth targets for 2026 and beyond?

Eco Energy aims to rapidly scale its operations, expecting to connect two gigawatts of projects by the end of 2025. In the coming years, the company plans to add approximately 1.5 gigawatts annually, with projected revenues of around 150 million euros by 2027.

How does Eco Energy handle the challenges posed by public sentiment towards Israel, especially in Europe?

Despite challenges related to public sentiment towards Israel, Eco Energy remains steadfast in its identity and principles. The company promotes open dialogue and transparency, which helps foster positive relationships with its employees, partners, and investors.