Econergy Renewable Energy (TASE: אקנר / ECNR) has completed its first public offering (IPO) at a value of NIS 1 billion before cash. The company’s share will start trading on Tuesday 13.7.2021
The company raised about NIS 150 million from institutional investors. In addition, the company’s existing investors also expressed confidence in the company and invested additional capital.
Econergy Renewable Energy is one of the oldest and leading companies in the field of renewable energy in Europe, with an international team and proven experience and reputation in locating, developing, purchasing and managing projects. The company also has strategic collaborations with leading funds in the world that invest in Econergy’s projects, such as the UBS Bank Infrastructure Fund and the French Infrastructure Fund RGreen Invest.
The company owns a total of 4.5 gigawatts of projects that are in various stages of development and construction in a variety of markets, including Italy, Spain, England, Romania and Poland.
By the end of this year, construction of over 400 megawatts is expected to begin.
The company expects its revenues in 2023 to be around € 116 million and the FFO at around € 71 million.
The proceeds of the offering will be used to implement the company’s strategy, expand operations and establish part of the existing pool of projects.
The world trends in the field of renewable energy are known and intensifying over the years.
Econergy, is one of the leading and well-known platforms in Europe, in initiating, developing, establishing and managing renewable energy projects. Econergy has extensive experience and knowledge in the various markets, with a large pipeline of projects in 5 markets, each of which has a unique team that includes senior executives from the leading companies in the industry in Europe. Through the capital raised Econergy will be able to implement part of it for the benefit of all stakeholders in the company.
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