The decision to examine expansion into the field of renewable energy comes following recently published information according to which the Stock Exchange and the Securities Authority are considering an amendment to the stock exchange’s regulations that will allow oil and gas partnerships to incorporate renewable energy projects. RAM reported that subject to, among other things, the approval of the said amendment and any approval required by law, it intends to examine investments in projects in the field of renewable energies.
According to the report, RAM has a close professional working relationship with Anfit, licensing and planning agreements and cooperation between the professionals while exchanging information related, among other things, to the production of energy from renewable sources. Constitute business opportunities for expanding the existing cooperation with the Anfit Group in parallel with the continuation of the joint work to establish the production facility in Mishor Rotem.In accordance with the progress of the cooperation, the parties will consider operating in the field of renewable energies in Israel as well.
The collaboration will be celebrated by Ampit-Green with a reputation and proven experience in initiating, establishing and managing dozens of renewable energy production facilities in northern European countries and Poland. As part of the Anfit Group, which supplies electricity to Lithuania, Estonia, Finland and Poland, the company has a presence in these countries that allows access to new projects and has a significant relative advantage in renewable energy activities in these countries. Ampit Green’s projects receive non-recourse funding from Scandinavian banks and the European Bank for Development and Infrastructure (EBRD).
The global Anfit group has a reputation and 18 years of experience in the field of renewable energy, the group employs about 7,500 people. The group recorded revenues of 833 million euros in 2020 and EBITDA of 214 million euros. The company owns production assets with a total production capacity of 12 terawatt-hours.
Following the report today, the Ram share jumps at a rate of about 11% in trading in Tel Aviv.
According to a FUNDER survey, at the end of January, significant institutional energy investments were made in Rotem, including the funds of Excellence Funds, which acquired about 7.8% and became an interested party as a result, and the Psagot Hedge Fund, which acquired 2.5%.
As of the date of the last holdings report in the funds, there are 4 mutual funds holding NIS 800 million in the USSR.
Mutual funds holding Rotem Energy Yahsh
