Enlight Renewable Energy is looking to hold an initial public offering (IPO) on a Wall Street Stock Exchange. No plans have been set, as of yet, for the company, which specializes in projects involving the generation of electricity from renewable energy. But it filed a prospectus with the SEC and is reportedly looking at raising as much as $200 million.
So, finally some good news for Israel Startup Nation in the new year. So far there has largely been a continuation of layoffs and so on because of the current global financial crisis. But if the Enlight Renewable Energy IPO takes off it would mean a reverse of last year’s trend that saw canceled IPOs and the devaluation of startups. Enlight is currently traded on the Tase Tel Aviv 125 Index and is 98% publicly held with a market cap currently above $2.3 billion.
Just last summer Enlight Renewable Energy signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW. Enlight projects that the projects will commence construction from the end of 2023 through 2025, subject to the successful completion of the development phase for each project.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
Founded in 2008, headed by Gilad Yavetzand based in Rosh Ha’ayin, Enlight Renewable Energy funds construction and operation of ventures for generation of clean electricity from renewable energy sources. The company operates in Israel and Europe, benefits from a diverse portfolio of revenue-generating projects that are under construction, leading up to construction and with a signed agreement for the sale of electricity (PPA) with an output of approximately 3,800 MW, approximately 1, 200 MW in advanced development stages and an additional approximately 12,200 MW in various stages of development.
Enlight Renewable Energy has a growing revenue pipeline from long-term agreements for the sale of electricity and is also working to expand its footprint in additional clean energy markets and segments.