Enlight Renewable Energy Launches 60-MW Solar Plant in Hungary
Israel’s Enlight Renewable Energy Ltd (TLV) has commenced commercial operations at its 60-MW solar photovoltaic (PV) plant in Hungary, marking the company’s fifth project in the country. The Tapolca plant, located in the Veszprem region near the municipality of Tapolca, began selling electricity on July 31, ahead of schedule, the company announced on Friday.
The grid connection of the Tapolca plant has boosted Enlight’s installed power generation capacity in Hungary to 144 MW. The solar farm is expected to generate enough electricity to meet the needs of approximately 30,000 homes annually. The energy produced will be sold at merchant prices.
The project was completed with an investment of around USD 48 million (EUR 43.6 million), with financing from Raiffeisen Bank and USD 21 million in equity from Enlight. The company anticipates that the PV park will generate around USD 6 million in revenue in its first year and contribute approximately USD 5 million to its earnings before interest, tax, depreciation, and amortisation (EBITDA).
CEO Gilad Yavetz emphasized the project as an example of Enlight’s growing international capabilities, stating, "The continued development and operation of new European projects such as Tapolca is another example of Enlight’s broad international execution capabilities on a number of different continents."
Source: Renewables Now
