Enlight to build 45 PV units at IDF bases

The company expects over NIS 100 million revenue from NIS 30 million investment to install 50-kilowatt units.

Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) will install 45 rooftop photovoltaic solar energy facilities at IDF bases for a total investment of NIS 30 million. The 50-kilowatt units will generate a total of 2.25 megawatts of electricity, which the company expects will generate NIS 5.4 million in revenue per year over 20 years in sales to Israel Electric Corporation (IEC) (TASE: ELEC.B22), for total revenue of over NIS 109 million.

Enlight plans to install the systems during 2011. Enlight cautioned, however, that it cannot yet estimate exactly how many systems will actually be installed, because this depends on several factors outside the company's control, including the Ministry of Defense's requirements, business considerations, and financing.

Shaul Elovich's Eurocom Communications Ltd. owns 43.9% of Enlight, whose share price rose 5.5% in morning trading to NIS 0.61, giving a market cap of NIS 123 million.

Published by Globes [online], Israel business news - www.globes-online.com - on January 23, 2011

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

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