Afcon Prepares Renewable Energy Unit IPO Valued at $215 Million
Translated & summarized from TheMarker by baba
The story in 5 lines · by baba
- Afcon plans IPO for its renewable energy unit, Afcon Energy.
- The unit is valued at approximately NIS 800 million.
- Afcon Energy has projects in Israel, Poland, Spain, and the US.
- The company has 275 MW operational and 807 MW in development.
- A previous merger with SunFlower failed in January.
Afcon, a construction and infrastructure company controlled by the Shmeltzer family, is preparing to issue its renewable energy arm, Afcon Energy, with an estimated valuation of approximately NIS 800 million (about $215 million), according to capital market sources. Afcon Energy operates renewable energy projects in Israel, Poland, and Spain, and is in the early stages of developing activities in the United States.
The company has 275 megawatts of projects currently in commercial operation and an additional 807 megawatts in various development stages. This move follows a failed merger attempt between Afcon and SunFlower in January.
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