Novasec to Raise €80 Million for Spain’s Largest Onshore Wind Farm
Novasec Ltd. is pleased to announce that it has secured the exclusive rights to raise €80 million to fund the development of Gecama, a ~312-megawatt onshore wind farm in Spain. Gecama is the first of several projects Novasec is setting out to fund using an innovative investment platform focused on achieving the investment objectives of qualified private and small-to-medium institutional investors.
The exclusive fundraising rights were secured through an agreement with Enlight Renewable Energy Ltd., a global leader in renewable energy development and the owner of Gecama. Gecama is projected to start construction in Q1 2020 and is expected to cost up to €330 million to complete. The total expected revenue over the lifetime of the project is €2 billion.
“Gecama provides a unique market opportunity for investors and we are thrilled to be working with Enlight on our first venture together,” says Michael Tishler, CEO and co-founder of Novasec. “At Novasec, we pride ourselves on sourcing high-quality wind and solar projects, performing extensive due diligence and finding the right deal structure for each fundraising we undertake. We selected Gecama as our first effort because it meets all of our key criteria and we are excited to bring this highly attractive opportunity to investors on our platform.”
With its 312 MW capacity, Gecama will be Spain’s largest onshore wind farm. Located in Castilla La-Mancha, the development site was chosen for its high, stable wind levels and the availability of grid connection. Spain’s new decarbonization policy targets a 100% renewable energy electricity system by 2050 and a ban on new oil and gas exploration. Given these ambitious goals and the concrete actions Spain has already taken to promote green energy, the country’s renewable sector is an ideal opportunity for investing with impact.
Novasec has developed an end-to-end platform for financing renewable energy projects through regulated private placements for qualified investors, with Novasec managing the entire investment process. The platform also offers investors the option to register their investments as digital securities, giving them more flexibility and liquidity.
As a leading developer in the global energy market, Enlight Renewable Energy stands at the forefront of the green revolution and is a publicly traded company on the Tel Aviv Stock Exchange. Enlight specializes in the initiation, development, financing, construction, management and operation of renewable energy projects such as wind and photovoltaic systems.
About Novasec Ltd.
Novasec is a Tel Aviv-based innovative investment platform for the fast-growing renewable energy sector. Bringing together a rigorous process for project selection, along with the advantages created by digital securities, Novasec is funding the future, offering investors with clean, impact investments with attractive returns.
To learn more about Novasec, please visit https://www.novasec.io.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191030005107/en/
Contact information
Perry Goldman
Montieth & Company
pgoldman@montiethco.com
646.864.3568
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Asia’s First Private Driving Club “THE MAGARIGAWA CLUB” Scheduled to Open Late 2022 in Tokyo Area13.8.2020 13:00:00 EEST | Press release
Cornes & Company Ltd. started construction on THE MAGARIGAWA CLUB this past spring in Minamiboso in Chiba Prefecture. In creating the club, Cornes envisions a truly unique driving club, road course, and destination that will offer experiences unattainable at other racing circuits. Located 60minutes from the Tokyo metro area, Tokyo International Airport, and Narita International Airport, the exclusive driving club allows members to enjoy an unparalleled driving experience and spectacular views of Mt. Fuji and Tokyo Bay. In addition to its distinctive 3.5-kilometer driving course, THE MAGARIGAWA CLUB offers recreational options for everyone—not just car enthusiasts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200813005038/en/ Driving Course (Graphic: Business Wire) The first round of applications for membership are sold out. Concept There are a few legendary racetracks in the world today. These spots gain iconic status, bec
Seoul Viosys to Develop a Cancer Diagnosis Technology for Companion Animals with Violeds Technology13.8.2020 12:54:00 EEST | Press release
Seoul Viosys (KOSDAQ: 092190), a leading compound semiconductor solution provider, announced that it has developed an advanced concept technology for early diagnosis of cancer in companion animals with its ultraviolet LED Violeds technology through clinical testing conducted by scientists at the University of Ulsan, based in South Korea. According to Seoul Viosys’ research team, companion animals have a high incidence of cancer as humans, but it has difficulty in early diagnosis of cancer. So Seoul Viosys is in the process of developing a technology that can be applied not only in animals but also in human cancer diagnosis. The early cancer diagnosis method using Violeds light provides a profound study results to show significantly higher sensitivity in detecting cancer than the conventional diagnosis methods and enable to detect all incident cancers. Seoul Viosys conducted comparative experiments with blood from healthy dogs and from cancer diseased dogs using a biomarker that can be
Samsung Announces Availability of its Silicon-Proven 3D IC Technology for High-Performance Applications13.8.2020 09:16:00 EEST | Press release
Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today announced the immediate availability of its silicon-proven 3D IC packaging technology, eXtended-Cube (X-Cube), for today's most advanced process nodes. Leveraging Samsung's through-silicon via (TSV) technology, X-Cube enables significant leaps in speed and power efficiency to help address the rigorous performance demands of next-generation applications including 5G, artificial intelligence, high-performance computing, as well as mobile and wearable. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200812005784/en/ Samsung Announces Availability of its Silicon-Proven 3D IC Technology for High-Performance Applications (Graphic: Business Wire) "Samsung's new 3D integration technology ensures reliable TSV interconnections even at the cutting-edge EUV process nodes," said Moonsoo Kang, senior vice president of Foundry Market Strategy at Samsun
Lenovo Delivers Outstanding Q1 Performance and Strong Growth, Overcoming Challenging Global Environment13.8.2020 07:46:00 EEST | Press release
Lenovo Group (HKSE: 992) PINK SHEETS: LNVGY) today announced Group revenue in the first quarter of US$13.3 billion, up almost 7% year-on-year (up 10% year-on-year excluding currency impact). Pre-tax income grew 38% compared to the same quarter a year earlier, to US$332 million, while net income also increased by 31% year-on-year to US$213 million. Basic earnings per share for the first quarter were 1.80 US cents or 13.95 HK cents. “Our outstanding performance last quarter proves that Lenovo has quickly regained momentum from the impact of the pandemic and is capturing the new opportunities emerging from remote working, education and accelerated digitalization,” said Yang Yuanqing, Lenovo Chairman and CEO. “While the world continues to face challenges, Lenovo is focused on delivering sustainable growth through our core businesses as well as the new services and solutions opportunities presented by our service-led intelligent transformation.” Global economic factors The last quarter has
Win a Tablet with WorldRemit’s Back to School Competition!13.8.2020 04:11:00 EEST | Press release
WorldRemit, a leading international payments company, is giving away 150 tablet computers to students in the Philippines! Public schools in the Philippines are scheduled to reopen from 24th August, depending on compliance with the local COVID-19 Risk Severity Classification. WorldRemit, which has a large presence in the Philippines, wants to create opportunities by widening access to education with this generous offer. Customers will have the chance to win a tablet computer by simply making a transfer to the Philippines using the WorldRemit app or website between 1st July and 30th September 2020 and ensuring that they have registered for the offer online at: https://www.worldremit.com/en/promotions/winatablet. Every Friday of each week from 14th August 2020 until 2nd October 2020, WorldRemit will randomly select between 16 and 20 winners. A tablet computer will then be sent to the winners’ chosen recipient who can demonstrate they are currently a student in the Philippines. “As a compa
Lattice Sentry Solutions Stack and SupplyGuard Service Deliver End-to-End Supply Chain Protection with Dynamic Trust12.8.2020 23:00:00 EEST | Press release
Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, today launched the Lattice Sentry™ solutions stack and the Lattice SupplyGuard™ supply chain protection service. The Sentry stack is a robust combination of customizable embedded software, reference designs, IP, and development tools to accelerate the implementation of secure systems compliant with NIST Platform Firmware Resiliency (PFR) Guidelines (NIST SP-800-193). The Lattice SupplyGuard service extends the system protection provided by the Sentry stack throughout today’s challenging and rapidly changing supply chain by delivering factory-locked devices to protect them from attacks like cloning and malware insertion, and enables secure device ownership transfer. These hardware security solutions are increasingly important to a range of applications, including communications, datacenter, industrial, automotive, aerospace, and client computing. This press release features multimedia. View the full rel
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom