By 2020, Global Energy Capital plans on investing 20 billion Dollars in the development of solar energy fields worldwide . The company founders hold conditional financing commitments totaling 800 million dollars and have six projects under development. By the second quarter of 2013 the company plans to launch three of them, in Rwanda, the Galapagos Islands (Equador) and Romania.
Global Energy Capital was formed in November 2012 by the individuals who formed “Arava Power”, which develops solar energy fields in Israel. The new international corporation, created for production of solar energy throughout the world, has already ensured the financial backing of pending projects through letters of credit and agreements in principle totaling 800 million dollars, accorded the company by multinationals, commercial banks and the U.S. government.
Global Energy Capital already succeeded in securing 4 million U.S. Dollars with an additional 10 million dollars (Series B) pending a second round of financing, underwritten by the Israeli investment bank, DS Apex M&A, Ltd., a subsidiary of DSAP: Tel Aviv.
“Our goal is that by by 2020 we shall have invested 20 Billion Dollars, manufacturing 10, 000 megawatt and supplying green energy to 50 million people, mostly in developing countries, ” noted Yosef Abramowitz, president and founder of both, Arava Power and Global Energy Capital. Avramovich added: “We have a moral and strategic interest to bring to an end to electricity production through the burning of oil, replacing it with solar energy while improving the life quality of tens of millions of people.”
Global Energy Capital is currently constructing projects that will produce 59 megawatt of green electricity; an additional 250 megawatt is at an advanced stage of development, en route to construction. A further 1, 500 megawatt are already anchored in memoranda of understanding.
David Rosenblatt, a founding partner of Global Energy Capital says that, “Solar energy bestows on many countries the opportunity to significantly improve the quality of life of their inhabitants by lowering the price of electricity and by availing themselves of supply for the increasing demands in a short span of time.” Rosenblatt added that, “many countries suffer from electricity shortage while demand continues to grow. From a business standpoint the global economical opportunities are just endless”.
“The new enterprise contains both mission and financial objectives” said Hawie (Howard) Rodenstein, Energy Chief at Global Capital. “We amalgamate a powerful combination of innovation, focused investment and corporate and social responsibility.”