In addition to the transaction with Ampal, Merhav has signed a memorandum of understanding with Colombian integrated energy firm Ecopetrol, for the acquisition of around 25-35% of the project.
In connection with, and as partial consideration for the option, Ampal has made a $10 million loan to Merhav to fund the purchase of the 11,000 hectares of property in Colombia required for growing sugarcane and the construction of an ethanol production facility for the project.
Yosef Maiman, chairman and CEO of Ampal, said: This transaction will significantly enhance our presence in the clean energy sector and supports our broader energy project portfolio.
