Nofar Energy acquires Highlight from Gabi Buskila for 200 million shekels

Nofar Energy, controlled by Ofer Yanai, announced this morning that it has signed an agreement to acquire the energy company Highlight from real estate developer Gabi Buskila for 200 million shekels. Nofar's announcement comes four days after the negotiations were revealed in Calcalist.

The shares to be acquired represent 92.5% of Highlight's equity, and the founders will continue to hold the remaining shares. Over the years, Buskila injected capital into Highlight and effectively financed its operations. The company's offices, as well as the offices of the Buskila Brothers company, which operates in the field of real estate development, are located in Netivot.

According to Nofar's announcement, Highlight holds rights to 30 solar power generation and storage projects at various stages of development, some of which are already under construction. The estimated capacity of the projects stands at 850 megawatts, alongside a storage capacity of 4.4 gigawatt-hours. The acquisition will be carried out by Nofar Israel, managed by Nadav Barkan.

Nofar stated:

"The acquisition of Highlight constitutes a strategic move for Nofar Israel that strengthens its local project pipeline and deepens its activity in the solar and storage sector. The deal is expected to allow Nofar Israel to expand its growth base through a high-quality portfolio that is in various stages of development, to create synergies with its existing activity, and to strengthen its position in the renewable energy market in Israel."