Enlight Renewable Energy Solutions Ltd. (TASE:ENLT), controlled by Shaul Elovitch's Eurocom Group, has raised NIS 18 million in a rights issue. The offering follows a NIS 42 million bond issue last year, and agreements in principal for NIS 340 million in financing from Eurocom and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL).
Enlight CEO Gilad Yaabetz said that the proceeds would enable the company to shortly to carry out projects in its pipeline in order to implement its growth plan.
Last month, Enlight secured €10.5 million (NIS 52 million) in financing to jointly acquire with Econergy Svilupo (Development) srl three photovoltaic solar fields in Italy for the production of 3 megawatts of electricity. The company's solar energy projects currently generate 9 megawatts.
Enlight rival Sunflower Sustainable Investments Ltd. (TASE: SNFL) announced that it plans to buy solar energy fields in Spain for €7.5 million (NIS 37 million). The fields have a production capacity of 1.9 megawatts, which will join the company's projects that currently generate 40 megawatts.
Enlight's share price was unchanged today at NIS 0.31, giving a market cap of NIS 66 million. Sunflower's share price was unchanged today at NIS 8, giving a market cap of NIS 263 million
Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2012
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