Meitav Invests NIS 200 Million in Ofer Yanai’s Nofar Energy Subsidiary Nofar Israel

Meitav Investment House is set to invest NIS 200 million in Nofar Israel, a subsidiary of Nofar Energy controlled and managed by Ofer Yanai. The two parties signed a non-binding memorandum of understanding, and if finalized, Meitav will hold an 8.7% stake in Nofar Israel. This deal values Nofar Israel at NIS 2.1 billion pre-money and NIS 2.3 billion post-money.

This valuation marks a roughly 30% increase compared to an earlier investment by Clal Insurance earlier this year, when Clal invested about NIS 300 million at a post-money valuation of approximately NIS 1.6 billion. The rise in valuation reflects significant progress in Nofar Israel’s operations over the past year, including the expansion of its project pipeline and the advancement of regulatory approvals and timelines due to favorable regulatory decisions.

If the agreement with Meitav is completed, it will represent another institutional investment in Ofer Yanai’s renewable energy activities in Israel, underscoring growing confidence in the company’s development and growth prospects within the Israeli renewable energy sector.