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

Bank Hapoalim has signed an $85 million financing agreement with Stark Power Inc., a US-based energy and data center infrastructure development company founded by former executives from Enlight and Nofar Energy. The agreement provides Stark Power with credit lines to fund the acquisition of commercially operating energy projects in the US, as well as projects in development prior to financial closing.

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

This agreement significantly enhances Stark Power's financial competitiveness and flexibility in the US market. It allows the company to operate across the entire investment chain, from acquiring advanced development projects and financing their construction to purchasing operational energy assets. The facility enables faster action on new opportunities, reduces the required equity per deal, and improves potential returns 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 capacity for future transactions. He noted the abundance of opportunities in the US and expressed gratitude to Bank Hapoalim for their confidence and support of Stark Power's growth plan.

Shmulik Arbel, Deputy CEO of Bank Hapoalim, emphasized the bank's commitment to supporting leading Israeli entrepreneurs in global markets. He highlighted the deal as a major step for Stark Power in the US and showcased the expertise of the bank's infrastructure and project finance sector. Bank Hapoalim is currently pursuing additional energy financing deals in the US and Europe and will continue to support Israeli companies in their growth phases.