Afcon Holdings Raises NIS 200M For Construction Of Wind Farms

June 18, 2014 | Afcon Holdings headed by Shlomo Shmeltzer raised NIS 200 million in order to construct two wind farms at Kibbutz Maaleh Hagilboa and Kibbutz Degania in the north of Israel. As part of the financing round, Bank Hapoalim will lend 160 million to company, with the rest of the 40 million derived from Afcon’s own equity and loans. Together, the two wind farms will generate 21.25 megawatts of electricity, with an expected total revenue of NIS 22-26 million. Afcon Holdings (formerly Afcon Industries) is one of the largest industrial enterprises in Israel.