Ex-Doral CEO Yaki Neumann Launches FinErgia With Sphera Backing
Former Doral CEO Yaki Neumann has launched FinErgia, a renewable energy venture backed by Sphera hedge fund partners, targeting a half-billion-shekel fundraising round and European solar acquisitions.
Three and a half years after leaving Doral, Yaki Neumann is launching a new renewable energy venture, teaming up with the owners of the Sphera hedge fund and other investors. According to market sources, the new company—named FinErgia—will have Sphera partners as its leading investors and is currently raising half a billion shekels for its operations. The company aims to go public on the stock exchange within two to three years.
Expanding into European Markets and Storage
Representing the Sphera group in leading this initiative are founding partner Ron Centor, manager of Sphera tech funds Nadav Zeller, and managing partner Omer Degani. For Sphera's owners, this marks their first entry into real economic activity. Sphera, the second-largest hedge fund after Noked, manages approximately 7 billion shekels across various funds. FinErgia is already in talks with potential investors, aiming to acquire mature energy projects in Europe and enhance their value through energy storage and refinancing.
"FinErgia aims to establish an international energy platform and subsequently enter the Israeli market, focusing on mature assets that already generate electricity or hold necessary approvals."
Strategic Goals and Initial Projects
An initial transaction to acquire a portfolio of three solar projects totaling 138 megawatts in the Andalusia region of Spain is expected to be signed in the coming weeks. The company intends to achieve a portfolio of approximately 200 solar megawatts and 800 megawatt-hours of storage in Spain within roughly two years. Neumann previously served as CEO of Doral for 12 years before stepping down in 2025, during which time he led the company's international expansion.
