According to FUNDER website data,
21 mutual funds hold NIS 6.06 million worth of energy shares
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a change in the holdings of mutual funds in the share of the energy sector according to FUNDER-MVF data.
Energy Economy has updated its revenue and earnings forecast upwards, basing its forecast solely on revenue-generating projects, projects under construction and post-win projects.
The company expects that in 2021 it will record EBITDA of over NIS 52 million (the company’s share in projects). In addition, a revenue forecast of approximately NIS 69 million (the company’s share in projects) and an FFO forecast of approximately NIS 36 million (the company’s share in projects).
In addition, he accumulated the projects in plant development at a high rate of about 300%.
Chen Melamed, CEO of the Energy Economy, told FUNDER: “The company continues to take a conservative line, according to which forward forecasts are based solely on the actual performance of projects under construction and after winning tenders. As part of the business strategy, the company focuses on increasing the scope of solar projects.
Meshek Energy, the kibbutz’s renewable energy arm, publishes its financial results for 2020. The company reported that, as of the date of issue, there has been a 58% increase in projects in commercial operation and ready to connect. In addition, an increase of about 70% in projects under construction and after winning tenders.
The Energy Farm, which is owned by the large economic organizations of the kibbutzim that unites about 280 kibbutzim, enjoys the special connection with the kibbutz sector in a way that allows it to promote field development in excess of 1200 megawatts, an increase of about 300% since its issuance. In addition, the company acquired active and profitable projects with high rates and potential for improvement against cash and the issuance of shares.
The company ended 2020 with revenues of approximately NIS 10 million (which do not include the revenues from jointly held companies).
As part of its entry into areas tangent to renewable energy production, an energy farm company for Sonol and acquired a 50% stake in Sonol EVI, which is deploying a national network for charging electric vehicles. In addition, Econom Energy invested, as a strategic investor, in AirTouch, which completed its IPO earlier this week in a manner that reflects a large return in the short term.
Chen Melamed, CEO of Energy Economy, added: Since its IPO in July 2020, the Energy Economy has been implementing a growth strategy focused on increasing the scope of solar projects, including promoting projects under construction, acquiring profitable projects and participating in tenders that will be future growth engines. That our close connection to the kibbutzim will allow us to significantly increase the storage activity as well.
“The company is also considering entering operations abroad and is simultaneously engaged in areas that are tangential and complementary to the field of renewable energy, including the transition to electric transportation and the opening of competition in the field of electricity supply where we enjoy relative advantages.”
Attached is a detailed message on the subject and a link to the company presentation – https://maya.tase.co.il/reports/details/1355628/2/0