JERUSALEM- Israel's Enlight Renewable Energy said on Sunday it is in talks to buy 90% of an unnamed solar energy provider in the United States in a deal that values the target company at $430 million.
Enlight said it hopes to sign the deal in the second quarter, which includes a $160 million payment at closing and the remaining $230 million to be paid over five years based on reaching milestones.
Should it acquire the company, whose portfolio includes projects totaling 9.9 gigawatts, Enlight said its own portfolio will grow about 230%.
(Reporting by Ari Rabinovitch Editing by Steven Scheer) ((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))
