Enlight inks 1st corp PPA in Israel with software giant Amdocs
Solar panels. Source: Enlight Renewable Energy (www.enlightenergy.co.il).
Israeli renewables developer Enlight Renewable Energy Ltd (TLV:ENLT, NASDAQ:ENLT) has inked an agreement to supply power to a new office campus of US software company Amdocs (NASDAQ:DOX).
The 12-year contract, which marks Enlight’s first corporate power purchase agreement (PPA), will cover 100% of the power demand of the Amdocs Park in Ra'anana, central Israel, that spans dozens of acres, a press release said on Monday.
The electricity to be delivered to Amdocs’ complex will be sourced from Enlight’s solar and storage facilities currently under construction in Israel. Further details were not provided.
“We have entered a new era in Israel of solar generation, storage, and electricity supply through corporate PPAs to large customers. This revolution has occurred thanks to the de-regulation process of the Israeli Electricity Authority,” said Enlight’s CEO Gilad Yavetz.
Enlight, established in 2008, develops utility-scale renewable energy projects and operates across the US, Israel and nine European countries.