Renewables

Enlight buys 525 MW renewables project portfolio in Croatia

Enlight 525 MW renewables project portfolio Croatia

Photo: Enlight

Published

July 6, 2022

Country

Comments

0

Share

Published:

July 6, 2022

Country:

Comments:

0

Share

Israel-based Enlight said it acquired and entered joint renewable energy projects of 525 MW in total in Croatia. The start of construction of the five units is planned from 2023 to 2025.

Enlight Renewable Energy, headquartered in Tel Aviv, has signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The package comprises five projects, four of which are solar, totaling 386 MW, the company said. The remaining one is for a wind power plant.

Enlight projected the projects would commence construction from the end of 2023 through 2025, adding that the transaction is another step in its strategy to expand in Europe. The Israeli company didn’t disclose the financial details.

The Israeli renewables developer already operates the 48.8 MW Lukovac wind farm in Croatia

The investment enabled Enlight to enter the solar power sector in Croatia. It already operates the 48.8 MW Lukovac wind farm in the country’s south. The facility was built in 2017.

“As a member of the European Union, Croatia has adopted a far-reaching National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from 28% to over 36% by 2030 and 66% by 2050. Croatia benefits from one of the strongest solar resources in Europe and untapping the potential of its solar resources will be key to achieving the country’s 2030 and 2050 renewable targets,” according to the press release.

The company owns renewable energy plants of 316 MW in total in Hungary, Kosovo*, Croatia and Serbia

The company said it has a 1.2 GW portfolio of renewable energy projects in Hungary, Kosovo*, Croatia and Serbia, including 316 MW of operational projects. Enlight said it is running a total of 3.8 GW in projects under construction, leading up to construction and with a signed power purchase agreement (PPA).

The company agreed a year ago to buy 90% of Clēnera. The company based in the United States develops solar power and energy storage facilities. The deal was worth as much as USD 433 million in terms of enterprise value. Enlight subsequently took over solar power projects in Spain with a combined 490 MW in nameplate capacity from Cerberus Capital Management.

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
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

Elazig Turkey first floating solar power plant irrigation reservoir

Turkey’s first floating solar power plant installed on irrigation reservoir

27 March 2024 - DSI placed a 1 MW floating photovoltaic plant on a dam reservoir in Elazığ in Eastern Anatolia to power the irrigation system

croatia bilogora agrisolar

Sunčane Livade developing 252 MW agrisolar project

27 March 2024 - The Bilogora agrisolar facility is planned to be installed in the Bjelovar-Bilogora County, about 100 kilometers from the capital Zagreb

Simtel-EUR-12-2-million-EU-grant-Romanian-solar-power

Simtel gets EUR 12.2 million EU grant for Romanian solar power project

27 March 2024 - Romania-based Simtel Team won EUR 12.2 million from the NRRP for its 52 MW solar power project in Giurgiu county in the country's south

Turkey-introduces-import-tariffs-for-solar-panels

Turkey introduces import tariffs for solar panels

27 March 2024 - Importers of solar power panels from Vietnam, Malaysia, Thailand, Croatia and Jordan to Turkey will be charged USD 25 per square meter