Stark Power Secures $85 Million Credit Facility from Bank Hapoalim
Stark Power has secured an $85 million credit facility from Bank Hapoalim to finance energy and data center projects in the United States.
Stark Power, an infrastructure and data center developer founded by former executives from Enlight and Nofar Energy, has secured an $85 million credit facility from Bank Hapoalim. The financing agreement includes a loan facility of up to $60 million and a guarantee facility of $25 million, which can be adjusted up to the total limit.
The capital will be used to acquire energy and storage assets in the United States, including an ongoing acquisition of two advanced projects. Management noted that the credit lines significantly enhance the company's financial flexibility, allowing it to compete effectively across the entire investment lifecycle from pre-financial close development to operational commercial assets.
Strategic Growth in the US Market
Michael Avidan, CEO of Stark Power, stated: "The framework provided by Bank Hapoalim enables us to optimally finance our current transaction while significantly scaling our capabilities for future deals. We see diverse opportunities for acquiring active assets and advanced development projects in the US market."
"The credit facility gives us the financial strength to turn additional opportunities in the American market into successful transactions," Avidan added.
Bank Hapoalim's Global Outlook
Shmulik Arbel, Deputy CEO and Head of the Business Division at Bank Hapoalim, emphasized the importance of supporting leading Israeli entrepreneurs expanding into global markets. The transaction reflects the expertise of the bank's infrastructure and project finance sector, as the institution continues to advance additional funding deals for energy initiatives in the US and Europe.
