Renewables

BIG Energia Holdings expands portfolio with wind, solar projects in BiH, Romania

BIG Energia Holdings expands portfolio wind solar projects BiH Romania

Photo: BIG Shopping Centers

Published

October 31, 2022

Comments

comments icon

0

Share

Published:

October 31, 2022

Comments:

comments icon

0

Share

BIG Energia Holdings won an international tender for the construction of a combined wind and solar project in Bileća in Bosnia and Herzegovina and entered into a long-term lease of property in Romania for the construction of a solar power plant.

BIG Energia Holdings, a Hungarian subsidiary of Israel-based BIG Shopping Centers, was selected at an international tender for a combined wind and solar project in Bosnia and Herzegovina, in partnership with Mega Or Holdings and through a local company. The power plant is envisaged to be built on state-owned land near the village of Planik in Bileća.

The future renewables facility comprises an 80 MW solar park and a 40 MW wind farm. The cost of development and construction will be approximately EUR 108 million, the company told Balkan Green Energy News. It estimates that gross revenues from sales of electricity would reach EUR 14.6 million in the first year of operation after balancing payments to the electricity grid (based on a sale price of EUR 60 per MWh). Total EBITDA is estimated at approximately EUR 13 million annually.

Bileća, located in the eastern Herzegovina region, is one of the preferred destinations in the country and beyond for investments in solar power.

New solar project in Romania is worth EUR 26 million

Additionally, the company announced that its Hungarian subsidiary BIG Energia Holdings has entered into a long-term land lease agreement, through a Romanian company it holds, with the aim to construct a photovoltaic plant. The development and construction cost is estimated at EUR 26 million. The contract is for 35 years with an option for an additional term of 25 years.

The company said that gross revenues would reach approximately EUR 3.5 million in the first year of operation after balancing payments to the electricity grid, based on a sales price of EUR 60 per MWh. Total EBITDA is estimated at EUR 3 million annually.

The solar farm near Roşiori and Troianul in Romania’s south will have an estimated installed capacity of 40 MW.

BIG’s renewables project pipeline reached 1.4 GW

CEO of the company’s European operations Yossi Edelstein said that over the past year it has acquired projects amounting to 500 MW, translating to investments of EUR 520 million in total. It is handling a total project pipeline of 1.4 GW, reflecting the strategy to invest in green energy ventures and become a leading and dominant renewable energy player in Eastern Europe and the Balkans. The construction of some of the projects is anticipated to begin in 2023.

The construction of some of the renewable electricity plants is scheduled to start next year

The management plans to identify additional investment opportunities in the sector in Eastern Europe and the Balkans if they meet the company’s investment criteria.

Environmental policy is core component of company’s DNA

“As an integral part of project development, we conduct environmental surveys by the highest international standards, while taking all the relevant factors into consideration and communicating with the local population that lives in the area surrounding the projects we are developing. Environmental protection is at the heart of the company’s operations, which promote green energy activity in the target countries as part of a well-defined environmental policy that is a core component of the company’s DNA,” the statement adds.

The above-stated information regarding the projects, including the project data, the signing of the license agreement, probability of closing financing, timetables, costs, revenues and total revenues, is all forward-looking information, as defined in the Securities Law, 1968, and solely an estimate based on the information, estimates and data company management has in its possession on the date of the report, BIG Shopping Centers said.

BIG Shopping Centers focuses on developing, operating, and investing in open-air shopping and lifestyle centers, logistics, offices, and residential and renewable energy.

BIG was established in 1994 by Yehuda Naftali. It is a leading real estate group in Israel, focusing on developing, operating, and investing in open-air shopping and lifestyle centers, logistics, offices, and residential and renewable energy. BIG is a public company listed on the Tel Aviv Stock Exchange since 2006, with a market cap of EUR 3.1 billion as of December 31, 2021.

It is included in the prestigious TA-35 index of 35 prominent companies listed on the stock exchange in Israel. BIG is the controlling shareholder (circa 85%) of AFI Properties Ltd. Since January 2021, AFI Properties has been a leading entrepreneurial company of high magnitude yielding real estate assets, mainly focusing on offices and residential sectors.

The company operates in Israel, Serbia, Romania, Poland and the Czech Republic. AFI Properties was listed on the Tel Aviv Stock Exchange in 2004. Its market cap amounted to EUR 2.1 billion as of December 31, 2021.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Romania-ambitious energy storage plans 5 GW by end 2026

Romania’s ambitious energy storage plans: 5 GW by end-2026

18 July 2024 - These ambitious energy storage targets are aligned with transmission system operator Transelectrica’s recommendations and analyses

ems serbia grid connection wind solar

Serbia opens new round of grid connection applications for wind, solar

17 July 2024 - TSO EMS has announced that September 1 would mark the start of the new interval for the preparation of studies for the grid connection

Trafigura Romanian renewables solar power Nala

Trafigura enters Romanian renewables market via solar power project purchase

17 July 2024 - Trafigura's subsidiary Nala Renewables bought a ready-to-build PV project of 61 MW in Romania with an option to integrate battery storage

western balkans wind solar investments study

Western Balkans have as many prospective solar, wind projects as Germany

17 July 2024 - Prospective utility-scale solar and wind capacity amounts to 23 GW or 70% more than a year ago, according to the latest study