The 3-MW plant at Moshav Idan will cost NIS 40 million to build.
Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) has received a provisional license to build a three-megawatt photovoltaic power plant at Moshav Idan in the Arava. The company estimates the cost of building the power plant at NIS 40 million.
Enlight estimates revenue from the power plant at NIS 6.5 million a year over 20 years. It is now seeking to obtain bank financing to provide NIS 8 million in equity for the project.
Enlight said that it would try to complete the regulatory permits for the project over the coming year.
Shaul Elovich controls Enlight through Eurocom Group. Enlight's share price rose 8.4% by mid-afternoon to NIS 0.36, giving a market cap of NIS 75 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 5, 2011
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