Afcon Holdings has acquired a solar project in Poland

Afcon Holdings has acquired a solar project in Poland. The project has a total capacity of 40 megawatts. The initiation fee will be paid to the seller in three milestones.
The company expects that the start of construction of the project will be towards the end of 2021 and its commercial operation is expected to take place in the first half of 2022. Most of the approvals and completion of the main development processes required to start construction of the project are expected in the coming months.
The company will finance the transaction and the equity required to build the project, a total of about 23 million euros, through investment by institutional investors and the company.
A few months ago, Afcon Holdings acquired 70% of Logia, an entrepreneurial company in the field of renewable energy for an investment of up to NIS 21 million.
Afcon Renewable Energies is in the process of establishing a dedicated investment fund, in collaboration with institutional entities that will raise capital for investment in the group's renewable energy projects, in Israel and abroad.
Afcon Holdings is already active in the fields of renewable energy through the wind farms in Sirin and Gilboa and in the fields of energy charging in electric vehicles through its subsidiary Afcon Electric Transportation.
Afcon Renewable Energy was founded by the pair of entrepreneurs Eran Litvak and Yair Harel, who have been working in the field of energy for more than a decade. Thanks to their knowledge, connections and experience in the field, it has built in a relatively short time, a significant portfolio through collaborations with significant players in the renewable energy market.