3 Israeli cos sign renewable energy deals worth NIS 4.5b

On the final day of 2025, three Israeli renewable energy companies signed deals worth a combined NIS 4.5 billion.

OY Nofar Energy (TASE: NOFR) has bought a solar energy portfolio in the US from a bankrupt company called Pine Gate for $285 million and has taken on their obligations. In total, this is an expenditure of $605 million for Nofar including construction costs.

The portfolio comprises a cluster of nine projects, of which seven are already in actual commercial operation, one in advanced construction and one major project still in advanced development. This is a backlog that will bring Nofar an EBITDA of about $60 million per year starting in 2028, when their total production capacity reaches almost a gigawatt of electricity.

Since this is a bankrupt company, these are deals at a relatively low price, costing about $618,000 per megawatt. The investment in solar energy projects in the US follows the surge in electricity prices in the US and the expectation of unprecedented demand from tech companies, which at this stage are willing to buy almost every megawatt of electricity for the data centers and AI infrastructures they are setting up. The market views this deal very positively, and Nofar’s stock is up over 5%.

Doral strengthens the company’s balance sheet in the US

Doral Group Renewable Energy Resources (TASE: DORL), which is building a particularly large backlog of projects in the US towards 2029, is injecting $330 million into its US company (Doral LLC), which has previously hinted that it intends to raise debt or go public.

Of this amount, most of the money will come from Doral’s largest partner in the US, the Dutch pension company APG, and a small portion will come from Doral Israel. In exchange for these amounts, APG will be entitled to buy additional Doral shares at a 20% discount in the event of an offering in the US or a corresponding amount in cash.

If the move does not materialize, the Dutch company will acquire ownership of a similar value in Doral’s new Indiana Center project. This move reinforces the assessment that Doral is looking to raise large amounts of capital in the US to dramatically increase its backlog of projects. Here too, these moves are taking place against the backdrop of the hot US market, where there is great pressure on all energy companies to provide as much electricity as possible, as quickly as possible.

Mivne acquires electricity and storage facilities

Back in Israel, Mivne (TASE: MVNE) will equip itself with storage facilities and will install electricity from Enlight Renewable Energies (TASE: ENLT; Nasdaq: ENLT) for NIS 1.5 billion shekels. As part of this deal, Enlight will supply electricity to Mivne for 15 years, with an estimated value of NIS 1.5 billion for the entire period – about NIS 100 million per year. This is for 550 of Mivne’s properties around Israel.

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Enlight will establish a joint venture with Mivne, which will deal with the construction of energy storage facilities on the roofs of the company’s properties. Idan Hasson, CEO of Enlight’s Israel subsidiary Enlight Local says, “Enlight Local’s ability to bring the highest standard of complex energy projects to the customer’s backyard creates economic value alongside energy resilience. The collaboration will enable Mivne to provide green electricity to its customers in its commercial properties and build an additional engine of growth from energy storage facilities.”

Mivne CEO Uzi Levy says, “The energy sector will be one of the company’s significant growth engines in the coming years. Mivne has a distinct comparative advantage in this activity due to the extensive land spread of its assets as well as accessibility to the electricity grid.”

Published by Globes, Israel business news – en.globes.co.il – on December 31, 2025.

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