Econergy Renewable Energy, an independent power producer, has secured €200 million (~$227 million) for its Romanian and Polish solar projects through joint ventures with Phoenix Insurance and RGreen Invest. Phoenix Insurance has provided a total €150 million (~$170 million) loan – a convertible loan amount of €110.25 million (~$125 million) and a permanent loan amount of €39.75 million (~$45 million)  for solar projects in Romania and Poland that are expected to start construction in 2022.