Bank Hapoalim Finances Stark Power's US Energy Projects with $85 Million Deal

Bank Hapoalim has signed an $85 million financing agreement with Stark Power Inc., a U.S.-based energy and data center infrastructure development company founded by former executives from Enlight and Nofar Energy. The deal will provide Stark Power with credit facilities to fund the acquisition of commercially operating energy projects in the U.S. and to finance the purchase and development of projects prior to financial close.

The financing includes a loan facility of up to $60 million and a guarantee facility of $25 million, with the potential to increase the guarantee facility to $85 million by utilizing the loan facility. Stark Power intends to use a portion of this facility to finance the acquisition of a property containing two projects, an energy storage and power plant, which the company had reported advanced negotiations for on September 3, 2026.

This agreement significantly enhances Stark Power's financial competitiveness and flexibility in the U.S. market, enabling it to operate across the entire investment chain, from acquiring advanced development projects to purchasing operational energy assets. The facility allows the company to act swiftly on new opportunities, reduce its equity requirements per deal, and improve its return on equity while maintaining financial capacity for further transactions.

Michael Avidan, CEO of Stark Power, stated that the credit line optimally finances their current deal and significantly boosts their capabilities for future transactions, allowing them to act faster and utilize capital more efficiently. Shmulik Arbel, Deputy CEO of Bank Hapoalim, affirmed the bank's commitment to supporting leading Israeli entrepreneurs in global markets, highlighting this deal as a major step for Stark Power in the U.S. and showcasing the expertise of Bank Hapoalim's infrastructure and project finance sector. The bank is currently pursuing additional energy financing deals in the U.S. and Europe.