Enlight Renewable Energy received a major boost on Tuesday toward establishing two photovoltaic energy projects with a combined installed generating capacity of 8 megawatts: The Electricity Authority approved their inclusion in the quota the Israel Electric Corporation is committed to buying from medium-sized photovoltaic facilities with output from 50 kilowatts to 10 MW.
The agency set a price of 96.31 agorot per KW for both projects, linked to inflation based on the October 2011 consumer price index. The approval is contingent on Enlight securing financing by May 21.
The photovoltaic facilities will be built on land leased from Kibbutz Kramim, in the northern Negev, and Moshav Idan, in the central Arava Desert. The Kramim project will cost an estimated NIS 60 million to build. With a generating capacity of 5 MW it is expected to generate annual gross revenues of NIS 8 million over 20 years. The installation at Idan, with 3 MW in capacity, will cost an estimated NIS 36 million to build and is expected to bring the company NIS 5 million per year in gross revenues over a 20-year period.
Enlight is part of the Eurocom Group, which is controlled by Shaul Elovitch and the Weil family.
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