Genie Renewables launches Sunlight Energy Investments

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Renewable energy of the genie Established Sunlight Energy Investments, an investment vehicle designed to provide participants with stable and predictable returns by owning both PV projects developed by Genie Renewables and projects developed by third parties. did.

Nir Ashpis, Chief Executive Officer of Sunlight Energy, said: “Sunlight Energy seeks to build project participation to provide investors with attractive and stable cash flow while diversifying project-based risk. Our strong financial position makes it independent of Genie. You can invest in promising projects, including early-stage opportunities developed. Overall, Sunlight Energy is currently evaluating more than 1 gigawatt of solar power financing opportunities around the world. Faced with the growing impact of warming, Sunlight Energy is pleased to contribute to the transition to renewable energy. “

Sunlight Energy will be the primary equity financing tool for Genie Renewables-led commercial, community, and utility-scale solar projects, and will also seek to participate in projects led by other solar developers. Its initial capital is provided by Genie Energy, which acts as the company’s general partner. Third-party investors will participate in Sunlight Energy’s project equity as a limited partner. Sunlight Energy provides investors with access to Genie Renewables’ large-scale solar development and the opportunities offered by other solar developers.

Michael Stein, CEO of Genie Energy, commented:

Sunlight Energy’s management team is headed by Chief Executive Officer Nir Ashpiz, President Michael Stein, and Chief Financial Officer Avi Goldin. Ashpiz previously led the renewable energy business of a major real estate investment company.

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