Analyte in negotiations to acquire an American company – the capital market

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Reports negotiations for the acquisition of about 90% of the holdings in an American company in the field at a value of up to $ 430 million, which has set up systems with an installed capacity of over 1.5 gigawatts. Analyte estimates that a detailed and binding purchase agreement will be signed during the second quarter.

The local company in front of which the contacts are conducted is engaged in the initiation, development, construction and operation of solar energy systems and energy storage. The outline discussed in the transaction is for a performance-based gradual consideration: approximately $ 160 million will be paid at the closing date of the transaction and the balance (up to $ 230 million), will be transferred in batches over five years depending on the realization of the project. The remaining 10% that Analite will not acquire will be held by the two entrepreneurs, who currently serve as the company’s senior executives.

The portfolio of the same American company consists of a battery of about 50 large solar projects (Utility Scale) in various stages of development with a total volume of about 9.9 gigawatts (in terms of DC power). Some projects require integration with energy storage facilities, with a cumulative volume of over 1.5 gigawatt hours.

According to the company’s estimates, about 15 projects with a total capacity of about 2.5 gigawatts are in advanced stages of development and are expected to mature during the next two years. Agreements for the sale of electricity (PPAs) in the amount of 2 gigawatts to be produced from these facilities have already been signed for an average period of 19 years and for the full amount of electricity produced, and are being advanced in advanced negotiations.

Banlight says that a significant growth engine in the US market comes from the leading business companies sector, some of which have taken on a commitment to consume 100% of electricity from renewable energy sources. The company also notes that the solar sector led in 2019 the volume of new installations in the US compared to wind energy and natural gas, and is expected to continue to grow at an accelerated rate due to the significant improvement in economics of solar production cost. In the US, and the volume of installations is expected to continue to grow to about 238 gigawatts by 2030.

“We believe in the power of the potential deal to double and even triple the scope of the company’s activities in the short and long term, in parallel with a similar increase in our traditional markets,” he said. Gilad Yabetz, CEO of Anlite.

Analyte, established in 2008, is engaged in the initiation, development, financing, construction and operation of projects for the production of electricity from renewable energy sources. The company operates in Israel and Europe with a portfolio of existing projects, under construction and prior to construction with a production capacity of about 2 gigawatts and about 2.3 gigawatts in various development stages.