Enlight Energizes Project Björnberget, One of the Largest Wind Farms in Europe

Rhea-AI Summary

Enlight Renewable Energy has successfully met all regulatory requirements for the Björnberget wind farm, its largest operational project at 372 MW capacity. Located in Scandinavia, the wind farm is expected to achieve full commercial operation by Q1 2023. With 60 turbines from Siemens Gamesa, the project has commenced sales of electricity in the market. Enlight has secured a 10-year Power Purchase Agreement for 70% and 50% of the electricity generated in the initial and latter five years, respectively, enhancing revenue stability.

Positive

• Björnberget wind farm's capacity of 372 MW marks Enlight's largest project.
• Successful regulatory approval facilitates gradual commercial operation.
• First turbine is operational, with full commercialization expected by Q1 2023.
• 10-year Power Purchase Agreement ensures stable sales for 70% and 50% of electricity in respective phases.

Negative

• None.

The Swedish wind farm, with an installed capacity of 372 MW, constitutes Enlight's largest operational project to date

TEL AVIV, Israel, Oct. 3, 2022 /PRNewswire/ -- Enlight Renewable Energy (TASE: ENLT) is pleased to report that the Björnberget wind farm has achieved all necessary regulatory requirements to start the gradual process of commercial operation. Project Björnberget is one of the largest wind farms in Europe and constitutes Enlight's largest operational project to date.

The project comprises 60 advanced wind turbines from Siemens Gamesa Renewable Energy with each turbine comprising 6.2 MW. The first turbine has commenced commercial operation and Enlight expects the entire wind farm to be commercialized during the first quarter of 2023. At this stage, Björnberget has already begun to sell electricity in the Scandinavian market.

The project company has entered a 10-year Power Purchase Agreement (PPA) with a global leading company, under which 70% of the wind farm's electricity will be purchased in years 1-5 and 50% of the wind farm's electricity will be purchased in years 6-10. The remainder of the electricity generated will be sold in NORDPOOL, the largest and most liquid power market across Europe. The PPA will come into effect at full commercial operation.

About Enlight Renewable Energy

Founded in 2008, Enlight is a leading international renewable energy developer and independent power producer, operating across the three largest renewable segments: solar, wind, and energy storage. As a global company, Enlight operates across more than 10 countries and 3 continents: the U.S., Europe, and Israel. The Company possesses a portfolio of over 17 GW of generation capacity, and 17 GWh of energy storage, including 1.4 GW of operational projects and 2.3 GW either under construction, pre-construction, or with signed PPAs. Enlight is traded on the Tel Aviv Stock Exchange (TASE: ENLT) and is held 98% by the public.

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SOURCE Enlight Renewable Energy

FAQ

What is the capacity of the Björnberget wind farm?

The Björnberget wind farm has an installed capacity of 372 MW.

When is the Björnberget wind farm expected to start full commercial operation?

The Björnberget wind farm is expected to achieve full commercial operation by Q1 2023.

Who is the power purchase agreement with for the Björnberget wind farm?

Enlight has entered a 10-year Power Purchase Agreement with a global leading company.

What percentage of electricity will be purchased in the first five years?

In the first five years, 70% of the electricity generated will be purchased.

Where will the excess electricity from the Björnberget wind farm be sold?

The remaining electricity will be sold in NORDPOOL, Europe's largest power market.