Full Breakdown
Bank Hapoalim Extends $85 Million Credit to U.S. Energy Developer Stark Power
By Drooid · · How we work
Core Financing Deal
Bank Hapoalim announced a financing package worth up to $85 million for Stark Power’s U.S. energy operations. The arrangement combines a loan facility of up to $60 million with a guarantee facility of $25 million, which can be increased while the loan is drawn. The credit line is intended to fund the acquisition of a power-plant and energy-storage asset in its first stage, and to provide flexibility for later project acquisitions, construction financing, and the purchase of assets already in commercial operation.
Strategic Context
The agreement reflects Hapoalim’s broader push to back Israeli entrepreneurs expanding into global markets, particularly the United States’ energy sector. By supplying capital for projects at various development phases, the bank aims to enhance the competitiveness of Israeli-origin firms in a market where financing can be a critical barrier to entry.
Principal Actors
- Shmulik Arbel – Head of the Business Division at Bank Hapoalim, who highlighted the strategic importance of the transaction.
- Shahaf Gilad – Lead banker on behalf of Hapoalim for the credit facility.
- Nadav Tenne, Shahar Gershon, Zafrir Yoeli, Michael Avidan, Yosef Lefkovitz – Founders of Stark Power, former executives of Enlight and Nofar Energy, now focusing on U.S. energy infrastructure and data-center development.
Deal Structure and Expected Impact
The financing gives Stark Power the ability to acquire an existing power-plant and associated storage project, while also supporting the development of new assets in advanced stages. The combined loan and guarantee structure allows the company to finance construction before financial closing and to secure assets already operating commercially, thereby accelerating its growth trajectory in the competitive U.S. market.
Verbatim Quote
- “The bank sees great importance in accompanying leading Israeli entrepreneurs as they break into global markets. This is a very significant transaction that represents a step forward in the American market.” — Business Division, at Hapoalim
