Aluma Fund Acquires Distributed Power Firm for $72 Million

Infrastructure fund Aluma, co-founded by Ori Yogev, Muli Ravina, and Yair Hirsch, is expanding its energy arm, Alumenergy, with the acquisition of OPC Distributed for NIS 272 million (approximately $72 million). The deal is expected to generate NIS 120 million in annual revenue and NIS 48 million in EBITDA for Aluma in its first full year of operation.

OPC Distributed operates 12 decentralized power generation facilities located at consumer sites such as hospitals, industrial plants, and malls, serving medium to large energy consumers. These facilities have a total capacity of 52 megawatts, complemented by nearly 200 megawatt-hours of storage and 3 megawatts of rooftop solar. Aluma plans to integrate cogeneration units to optimize energy processes for these consumers and expand its operations, creating synergies with its existing portfolio.

The acquisition also positions Aluma in energy storage and the trading of surplus electricity, aiming to establish a comprehensive 'One Stop Shop' in the energy sector. Alumenergy intends to complete the construction of some unfinished facilities and connect cogeneration units to them. Following this purchase, Aluma's total power generation capacity will reach 85 megawatts.

This acquisition follows Aluma's recent purchase of Natural Gas Supergas for NIS 395 million in July, which added 33 megawatts of capacity and expanded its reach into the natural gas sector for transportation, including public transport companies. Alumenergy's CEO, Amit Fragment, transitioned to Aluma from Supergas after that deal. Discount Capital recently invested NIS 80 million in Alumenergy for a 16.5% stake, valuing the energy arm at approximately NIS 400 million.

Aluma's other ventures include a 20% stake in energy efficiency firm ESCO, a 91% holding in communications infrastructure company Green Anchors (formerly Teber), and environmental sector investments in waste collection, construction material recycling, and organic waste management.

This deal marks Aluma's second major transaction after its significant exit in late 2025, when it sold its 81.6% stake in telecommunications company Axellera to Essence Partners for NIS 408 million. Aluma also previously sold its 38% stake in ESCO for NIS 61 million. Aluma's stock has risen 23% this year, with a market capitalization of NIS 319 million.