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November 1, 2019

Novasec to raise €80m for onshore windfarm in Spain

Novasec has secured the exclusive rights to raise €80m to fund the Enlight Renewable Energy owned Gecama windfarm in Spain.

By Jack Unwin

Israeli investment company Novasec has secured the exclusive rights to raise €80m to fund the Gecama windfarm in the Castile-La Mancha region of Spain. Novasec secured the agreement with Gecama owner Enlight Renewable Energy.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Formed of 65 turbines with a capacity of 312MW, Gecama will be the largest onshore windfarm in Spain when it is complete. Construction of the windfarm is expected to begin in the first quarter of 2020 and will cost €330m to build. Enlight says that the windfarm will produce €2bn in revenue over the course of its lifetime. Gecama will play a role in the Spanish Government’s policy of having a 100% renewable energy electricity system by 2050.

Novasec CEO Michael Tishler said: “Gecama provides a unique market opportunity for investors and we are thrilled to be working with Enlight on our first venture together.

“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.”

Novasec

Novasec is a renewable energy investment company that uses an “end-to-end investment platform” for small and medium-sized investors to fund “low-risk, attractive” investment opportunities.

Enlight Renewable Energy

Enlight Renewable Energy is a subsidiary of the Eurocom Group and has a portfolio of 1.3GW in wind and solar projects around the world.

It is also listed on the Tel Aviv Stock Exchange, where it has a current share price of ILA417.50 ($118.54), giving the company a market capitalisation value of ILA2.79bn ($792m).

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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