Renewable

June 29 (Renewables Now) - Israel’s Enlight Renewable Energy Ltd (TLV:ENLT) on Tuesday announced it has energised its 329-MW Gecama wind farm in Spain, touted as the largest one in the country.

The power plant is undergoing gradual commissioning. The Israeli firm said it has received regulatory clearance to switch on 182 MW of the entire capacity, while the complex is expected to achieve full commercial operations within several weeks.

Located near the city of Cuenca in the Castile-La Mancha region, the Gecama wind farm is powered by Nordex turbines that are seen to generate enough electricity to cover the annual electricity consumption of around 260,000 Spanish homes. The output will be sold on a merchant basis.

The project was completed earlier than anticipated, Enlight noted. The Israeli firm owns 72% of the special purpose vehicle behind the scheme, while compatriot Phoenix Group owns 14.7%. The remaining 13.3% is held by Israeli investor Menora Group.

In its first year of operations, the wind farm is expected to bring revenues of between EUR 74 million (USD 77.6m) and EUR 82 million and some EUR 62 million-70 million in EBITDA, according to Enlights estimates.

(EUR 1.0 = USD 1.049)

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