Solar energy co Solaer files to raise NIS 150m in TASE IPO

Emek Hefer solar array / Photo: Afcon Solar PR, PR

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The Israeli company develops and installs photovoltaic solar arrays in both ground-mounted and rooftop projects.

Israeli solar energy company Solaer has filed a prospectus to raise NIS 150 million at a company valuation of NIS 500-600 million, before money. The company develops and installs photovoltaic solar arrays in both ground-mounted and rooftop projects and serves as an EPC contractor and operator. Solaer operates in Israel and Europe, mainly in Spain.

Based in Rehovot, the company was founded in 2009 by CEO Alon Segev and chair Paula Vilin Segev.

Poalim IBI and Epsilon will serve as underwriters for the project and the funds raised will be used, among other things, for buying rights to projects in Spain and Italy as well as general corporate purposes.

Published by Globes, Israel business news - en.globes.co.il - on January 20, 2021