Italy's Enerpoint buys Friendly Energy for NIS 20m

Friendly Energy has an orders backlog to install 70 PV facilities in Israel for a total of NIS 45 million.

Italy's Enerpoint SpA has acquired Friendly Energy Ltd. at a company value of NIS 15-20 million. Friendly Energy will become Enerpoint Israel Ltd., which will set up mid-sized and large photovoltaic systems and solar farms under engineering, procurement and construction contracts.

Friendly Energy has an orders backlog to install 70 PV facilities in Israel for a total of NIS 45 million. It has already set up 70 PV facilities at commercial and residential buildings for a total of NIS 20 million.

Enerpoint president Paulo Rocco Viscontini founded the company in 2001. He said today, "We have been examining the Israeli market for 18 months as a business target. We consider collaboration with Friendly Energy as an opportunity to combine forces and capabilities to become a leading player in Israel. We have the capabilities, connections, team, and will to succeed."

Enerpoint has built PV facilities across Europe for generating 185 megawatts of electricity. It had €250 million revenue in 2010 and its current orders backlog is €50 million.

Enerpoint is attending the 4th International Eilat-Eilot Renewable Energy Conference and Exhibition.

Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018