Enlight to install 16 small PV facilities

The facilities in Hod Hasharon and Ramat Hanegev will generate 500-700 kilowatts of electricity.

Photovoltaic power systems integrator Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) has won two separate tenders by the Hod Hasharon Municipality and the Ramat Hanegev Regional Council to install 13-16 PV facilities, for the generation of 500-700 kilowatts of electricity.

Enlight estimates the total investment in setting up the facilities at NIS 7.5-10 million, depending on how many are built. The company estimates revenue from the systems from sales to Israel Electric Corporation (IEC) (TASE: ELEC.B22) at NIS 1.5-2 million a year over 20 years.

The systems will be built pursuant to the regulations for PV facilities of up to 50 kilowatts published by the Public Utilities Authority (Electricity) in November 2010.

Shaul Elovitch-owned Eurocom Communications Ltd. owns 43.9% of Enlight. Enlight's share price rose 5% by early afternoon to NIS 0.58, giving a market cap of NIS 120 million.

Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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