Israeli companies enter Polish renewable energy market

A new Israeli fund joins other Israeli companies active in the domain of renewable energy in Europe, by investing some $14 million in Poland's wind-farm electricity sector.

al-monitor Wind turbines are seen in the Golan Heights, Israel, April 21, 2010. Photo by REUTERS/Ronen Zvulun.

Topics covered

trade, power grid, israeli industry, energy

Jan 9, 2014

Israel Infrastructure Fund, managed by [CEO] Yaron Kestenbaum, is to invest some 50 million shekels (about $14,265,350) in the acquisition of 50% of Winergy group, which operates in Poland wind farms for electricity production, using renewable energy sources. It has thus been learned by Israeli daily Calcalist.

The acquisition deal under discussion involves three separate wind farms — the first is already active and producing electricity with a capacity of 20 megawatts (MW); the second is currently under construction, and is scheduled to provide approximately 34 MW by end 2014; and the third is at present in advanced stages of financial closure, and is expected to produce electricity with a capacity of 38 MW.

Winergy is considered one of the most advanced companies in the field of electricity production in Poland, and it has partnerships with prominent vendors in this field worldwide, including [the German wind turbine company] Nordex GE Energy [a division of General Electric], and [the Danish manufacturer of wind power solutions] Vestas Wind Systems.

The decision to enter into the Polish energy market is by no means accidental. In fact, in the last year, electric power production in Poland has gained considerable momentum, significantly expanding, especially when compared to other EU countries — thus offering lucrative opportunities, stimulating various Israeli companies to invest in this sector.

Among the Israeli companies operating in Poland in the field of electricity production using renewable energy sources one can name Sunflower Sustainable Investments Ltd., controlled by Roni Biram and Gil Deutsch, as well as Enlight, the renewable energy arm of Eurocom Group, which is controlled by [Chairman and CEO] Shaul Elovich. Both of them invested last year in various projects for the production of “green electricity” in Poland.

Israel Infrastructure Fund is the first private equity fund in Israel. It specializes in asset management in the fields of infrastructures and energy, and manages over a billion dollars.

The fund is owned by Harel Insurance Investments & Financial Services Ltd., Adv. Yehuda Raveh, and Yaron Kestenbaum. Among the group’s most prominent holdings in Israel are ventures in the fields of transportation, energy and cargo terminals — specifically, [the Trans-Israel Highway] Highway 6, the Jerusalem Light Rail, [the suburban freeway in the south of the Tel Aviv Metropolitan Area] Route 431, the privately-owned Dalia Power Station and the SwissPort Israel Air Cargo Facility.

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