Enlight Renewable Energy eyes further Irish investment after €24m deal
08 September 2015
Enlight Renewable Energy has become the first Israeli renewable energy company to establish a significant footprint in the competitive Irish wind farm market.
Enlight is the renewable energy arm of Eurocom Group, one of the largest holding companies in Israel, and is one of the most prominent companies in the renewable energy market which has emerged in Israel.
The Israeli-based company has signed a deal this week worth €24 million and it expects to earn annual revenues of €3 million for 25 years from the project.
A little more than €3 million will be paid to an Irish developer as part of the development, while the rest will be invested in the construction of the project.
The company specialises in initiating, developing, constructing and operating clean electricity production projects from renewable energy sources.
Enlight’s vice-president of marketing and business development, Zafrir Yoeli, told the Irish Independent that the company has further developments planned and are looking to identify and invest in additional products.
“The Irish market has a very good wind resource and equity resource,” he said.
“When we enter into a market we would always like to get to 100MW. We would like to increase by several tens of MW next year; it will depend on the market.”
Full operation of the wind farm is due by the end of 2016 and the project will be Refit-eligible.http://www.engineersjournal.ie/2015/09/08/enlight-renewable-energy-eyes-further-irish-investment-after-e24m-deal/http://www.engineersjournal.ie/wp-content/uploads/2015/06/mt-lucas11.jpghttp://www.engineersjournal.ie/wp-content/uploads/2015/06/mt-lucas11-300x300.jpgNewsenergy,infrastructure,investment,Israel,wind