$2BN Renewable Energy Company Sells Shares in America #ThePayoff Wordle 613 X #twug Tommie #JJK214 Yuji Adin Ross #RHONJ #JJKSpoilers Creighton Vivek Daily Quordle 394

An Israeli renewable energy company that is valued at $2 billion has started trading on the Nasdaq stock exchange. 

Enlight Renewable Energy is the first Israeli company to complete an IPO (initial public offering) on Wall Street in 2023, and has already secured over $250 million in funding.

The global renewable energy developer and independent power producer was founded in 2008. It develops, designs, constructs, finances, owns and operates power plants that generate clean energy across the US, Europe and Israel.

The company, based in Rosh Ha’ayin, will sell 14 million shares at $18 per share. 

Enlight is currently traded on the Tel Aviv Stock Exchange with a market cap of NIS 6.8 billion – approximately $1.95 billion – compared to when it first went public in 2010 at a valuation of just NIS 59 million, or $17.3 million. 

In 2022, the company reported a revenue of over $131 million, and a profit of over $27 million. 

Earlier that year, it announced the launch of renewable energy projects in seven Arab countries, with a focus on solar and wind power production and energy storage. 

“We want to thank everyone who has supported us along the way, and we are confident that this new chapter will bring new opportunities and growth,” said the company in a statement. 

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