Enlight to build wind farms at six Golan villages

The joint project with Aviram will cost NIS 40 million and generate a gross NIS 5 million annual revenue over 20 years.

Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) and Aviram Ltd. will jointly build wind turbines at six moshavim (cooperative farming villages) on the Golan Heights at a cost of NIS 40 million. The wind turbines will generate 5 megawatt/hours of electricity.

Enlight estimates the gross revenue from the project at NIS 5 million a year for 20 years. Until now, Enlight, a subsidiary of Shaul Elovitch-owned Eurocom Group, has focused on photovoltaic facilities.

Enlight CEO Gilad Yaabetz said, "Electricity production from wind energy at suitable locations, such as the Golan Heights, is very economical, because of its relatively low production costs.

Enlight's share price rose 3.5% by mid-afternoon today to NIS 0.265, giving a market cap of NIS 55 million.

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

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

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