Navits enters the field of renewable energy: establish a new activity with Analyte – the capital market

Oil and Gas Partnership

Navits Peter Yahsh
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On the way to introducing renewable energy activities, in collaboration with

Analyte Energy
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. As part of this, the parties will work together to initiate, establish and operate offshore wind energy projects in the international market, with Enlight expected to hold 60% of the joint venture and Navits 40%.

Under the agreement, between Analyte and Fleur (a company owned by the general partner in Navits) for exclusive cooperation, it was determined that they would cooperate in the field exclusively for two years, with Fleur intending to act to transfer the activity to Navits. This, after last month the partnership reported that it was reviewing projects and promoting collaborations in the field of renewable energy.

According to the companies’ announcement, offshore wind energy is one of the fastest growing areas in the renewable energy sector, with an increase of about 20% per year, using completely clean energy and a minimum of ecological fingerprint. To date, about 34 gigawatts of offshore wind projects have been built worldwide, and the scope of global installations is expected to continue to grow to a level of over 80 gigawatts by 2025.

Chairman of Navits, Gideon Tadmor: “Navits ‘expected entry into the field of renewable energies and the partnership in the field of offshore wind with Analite, which is a significant and valued player in Israel, will enable a significant further expansion in Navits’ operations, while creating great added value for its investors.”

Anlite CEO Gilad Yabetz: “The offshore wind sector is very interesting for us, and our entry into it is a natural continuation of our extensive wind energy activities in the world. In recent years there has been an acceleration in the growth rate of this segment, and we expect this pace to continue “In other markets. We are pleased to partner with the Navitas Group to add initiative, financing and experience capabilities in the field of operation and regulation of marine infrastructure and energy projects, with an emphasis on North America.”