Type Public Industry Renewable energy Key people Gilad Yavetz (CEO) Headquarters Israel | Traded as TASE: ENLT Predecessor Sahar Investments Ltd. Parent Eurocom Group Founded 1 August 2008 | |
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Stock price ENLT (TLV) 128.50 ILA +3.10 (+2.47%)9 Mar, 5:24 PM GMT+2 - Disclaimer | ||
Enlight Renewable Energy is a publicly traded company, headquartered in Israel, that builds and operates solar and wind power facilities. Its shares are traded on the Tel Aviv Stock Exchange.
Contents
Operations
Enlight Renewable Energy operates in the renewable energy industry as a developer and operator of solar and wind power facilities. It owns rights to photovoltaic facilities in Israel and Italy. Enlight is a subsidiary of Eurocom Group, which owns 43.48% of the company.
Italy
In November 2010 Enlight signed agreements with two Italian companies for the establishment of Italy-based SPVs to lead the development of solar energy farms and rooftop solar energy projects in Italy.
Israel
In January 2011 Enlight won a state tender to install photovoltaic panels above the roofs of buildings on Israeli military bases.
In August 2011 Enlight entered into agreements with six communities in the Golan Heights to construct wind turbines on their land, subject to regulatory approval and clearance from Israel's Ministry of Defense.
Enlight is leading the development of the Halutziot project, one of Israel's largest solar energy undertakings, in the western Negev. Upon completion, Halutziot will span 1000 dunams and have a power output capacity of 55 megawatts. The projected cost of the Halutziot project is ₪520 million, and the gross income over a period of twenty years based on a rate of ₪0.62 per kilowatt hour is estimated at ₪1.4 billion.
Business model
Enlight describes itself as a vertical integration company, capable of operating in all four areas of the energy production chain so as to reduce licensing timeframes and generate higher returns on investments. The first of the four areas is the initiation stage, which involves locating suitable land or rooftops and entering into agreements with the owners; the second is the development and planning stage, which involves planning the facility and obtaining regulatory clearance; the third is the financing and installation stage, which involves financing the project and connecting the facility to the electricity grid; the fourth and last is the electricity sale, operation and maintenance stage, which involves selling the electricity produced and managing the facility.
Corporate history
Enlight Energy was founded by Gilad Yavetz, Zafrir Yoeli and Amit Paz. The company joined the Tel Aviv Stock Exchange in June 2010 through a reverse merger with Sahar Investments Ltd. Sahar, which prior to the merger was a shell company belonging to Shaul Elovitch's Eurocom Group, subsequently changed its name to Enlight Renewable Energy Ltd.