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Israel's Enlight negotiating 300-MW solar buy in Europe

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

June 4 (Renewables Now) - Enlight Renewable Energy Ltd (TLV:ENLT) is holding discussions to acquire a 300-MW wind project in Western Europe, it said in a bourse filing on Sunday.

The Israeli renewables investor did not mention the name of the project and its owners, but said it seeks to buy all of the shares in the company that holds the land for the development along with the rights to receive a building permit and the operating licence.

Enlight estimates that the total investment in this project will range from EUR 320 million (USD 375m) to EUR 350 million. It said it expects to cover 40-50% of the total construction cost with equity, and to seek financial partners.

The planned transaction is subject to completing due diligence and signing final agreements, Enlight said, adding that there is no certainty a deal would be inked.

(EUR 1.0 = USD 1.173)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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