Bank Hapoalim provides Stark Power with USD85m financing framework
Stark Power has signed a financing agreement with Bank Hapoalim providing the Israeli energy company with credit and guarantee facilities totaling USD 85 million.
The framework includes up to USD 60 million in loans and USD 25 million in guarantees. Stark Power plans to use part of the financing to support the acquisition of a US asset comprising a power plant and an energy storage project, which remains under negotiation.
The financing can also be used for additional US transactions, including acquisitions of operating energy assets, advanced-stage development projects, and construction financing ahead of separate project-level financing arrangements. Stark Power said the structure is intended to give it greater flexibility to pursue opportunities while using its own capital more efficiently.
Stark Power operates in the US energy infrastructure and data center sectors and is pursuing further expansion through acquisitions and development projects.
Erdinast, Ben Nathan, Toledano advised Stark Power, with a team led by Uri Mandel and Gabriella Khasidi.
