Solar energy and data centers development company Stark Power, which was founded recently by former senior executives of Nofar Energy (TASE: NOFR) and Enlight Renewable Energy (Nasdaq: ENLT; TASE: ENLT), has raised NIS 215 million on the Tel Aviv Stock Exchange (TASE), at a company valuation of NIS 580 million, after money.
RELATED ARTICLES
Nofar Energy in UK electricity storage project
Enlight market cap surges past $10b after strong Q4 results
Earlier this week the company signed its first deal to build an electricity production site combined with a data center in the US. The company is being listed through a stock exchange shell A.A.A.M.A and its shares are not yet trading on the market.
The money was raised from a relatively long list of institutional investors, including Alfa Fund, Harel, More Gemel, Phoenix, Noked Fund and Arkin Capital, in addition to “other leading institutions” not mentioned in the company’s announcement. According to the terms of the deal, the investors will inject capital totaling NIS 140 million, based on a share value of NIS 7.5. They were also given options to exercise by October 1, 2026, worth NIS 75 million, andfor a total of NIS 215 million, which is 40% of the company. In addition, the investors will be able to exercise additional options by October 1, 2029, worth an additional NIS 215 million -, which will bring them to close to 50% of the company’s valuation. In the meantime, the founders will maintain core control in the company.
Stark Power said, “The capital raising is a significant step for Stark Power on its path to establishing initiation and development activity for energy projects and data center infrastructure in the US, and to expand its activity in target markets in the country.”
Stark Power chairman and former Nofar co-CEO Nadav Tena said, “This is an expression of confidence in the company by the leading institutional bodies in the Israeli capital market. The offering will allow Stark to act to realize its Power First strategy by promoting quality transactions in the near term.”
The company will use the money raised to start and develop electricity generation projects in the energy market, which is particularly hungry for available renewable energy.
Published by Globes, Israel business news – en.globes.co.il – on March 26, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
-1024x683.jpg "Strait Outta Hormuz: Getting the Iran Oil Story Straight")
