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Israeli co Enlight to buy PV, wind in Central Europe

Solar panels. Source: Enlight Renewable Energy (www.enlightenergy.co.il).

January 22 (Renewables Now) - Israeli investment firm Enlight Renewable Energy Ltd (TLV:ENLT) has agreed to purchase the rights to 57 MW of solar projects in Hungary and is also negotiating a 105-MW wind acquisition in Central Europe.

In a statement on the Tel Aviv Stock Exchange (TASE), the renewable energy investor said it has completed negotiations and signed an agreement to buy the companies holding the rights to three photovoltaic (PV) projects. They are situated in western and northeastern Hungary and have capacities of 17.58 MWp, 14.74 MWp and 25.10 MWp, respectively.

Being in advanced development, the schemes already have most of the needed approvals, including construction permits, and are expected to receive connection contracts in the next three months.

In a separate announcement, Enlight said that talks for the acquisition of the rights to a 105-MW wind project in Central Europe are currently in advanced stage. The Israeli firm estimates that the investment, including acquisition costs and construction, will amount to some EUR 150 million (USD 183.3m). It said it is in initial talks for obtaining project financing, adding that it is still not certain that the acquisition will be completed as negotiations depend on the completion of due diligence, and specific commercial and legal issues.

According to its website, Enlight Renewable has more than 200 MW of operational renewable energy assets in Israel and Europe and is also developing more projects “involving additional hundreds of MW.”

(EUR 1.0 = USD 1.222)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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