Global Infrastructure SherpaNofar Energy's U.S. subsidiary acquires 1 GW solar portfolio from Pine Gate Renewables
Nofar Energy's U.S. subsidiary has acquired a 1 GW solar portfolio from Pine Gate Renewables, marking one of 2023's largest renewable energy transactions. This acquisition includes both operational and under-construction projects across several states, increasing Nofar USA’s solar capacity to 2.3 GWdc and strengthening its position in the U.S. renewable energy sector.
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The acquisition is described as "one of the largest renewable energy portfolio transactions in the United States this year." The transaction was finalized within two months of signing. Following the completion of the deal, Nofar USA’s total portfolio has expanded to 2.3 GWdc of solar capacity and 1.5 GWh of energy storage projects across the United States.
"The U.S. subsidiary of Nofar Energy has officially completed the acquisition of a 1 GW solar portfolio"
"acquisition of a 1 GW solar portfolio from Pine Gate Renewables"
"BNP Paribas served as financial advisor for the deal"
"Clifford Chance provided legal advisory services"
"Euclid Power acted as technical advisor"
"Financing for the transaction was backed by Bank Hapoalim, which committed $255 million to support the acquisition"
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