NewMed Energy & ENLT Setup JV to Develop Renewable Energy Projects
NewMed Energy has announced that it will collaborate with Enlight Renewable Energy Ltd (ENLT) to establish a Joint Venture to develop renewable energy projects across North Africa and the Middle East.
Under the term sheet, a joint venture will be established between Enlight and Yossi Abu, operating exclusively with NewMed Energy in several countries across the region, Enlight-Abu will hold 66.67% and NewMed Energy will hold 33.33%.
The joint venture between NewMed Energy and Enlight brings the vast experience and capabilities of two of the leading Israeli energy players, which will enable the advancement of renewable energy projects across the region.
Yossi Abu, CEO of NewMed Energy: “Just as we have brought the gas revolution to the countries of the region, so we will strive to introduce the renewable energy revolution."