Novasec to raise €80m for Spain’s largest onshore wind farm

Tel Aviv-based investment platform Novasec plans to raise €80m to help fund Spain’s largest onshore wind farm.

Novasec said it has secured the exclusive fundraising right from Enlight Renewable Energy, the owner of the 312MW Gecama wind farm project.

Located in Castilla La-Mancha, Gecama is projected to start construction during the first quarter of next year and is expected to cost up to €330m to complete.

Michael Tishler, CEO and co-founder of Novasec, said: “At Novasec, we pride ourselves on sourcing high-quality wind and solar projects, performing extensive due diligence and finding the right deal structure for each fundraising we undertake.

”We selected Gecama as our first effort because it meets all of our key criteria and we are excited to bring this highly attractive opportunity to investors on our platform.”