Enlight to Acquire 525 MW Portfolio of Solar and Wind Projects in Croatia
Enlight Renewable Energy has announced the acquisition and joint development of a substantial 525 MW portfolio of renewable energy projects in Croatia, comprising 386 MW of solar and 139 MW of wind. Construction is expected to begin between late 2023 and 2025, pending successful development phases. This acquisition enhances Enlight's existing operations in Croatia, which include the Lukovac wind project, and supports the country's ambitious renewable energy goals of increasing electricity generation from renewable sources.
- Acquisition of a 525 MW renewable energy portfolio enhances market position.
- Portfolio includes significant solar projects, expanding the company's diversification in Croatia.
- Aligns with Croatia's 2030 and 2050 renewable energy targets.
- Construction commencement is contingent on successful development phases, introducing uncertainty.
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Enlight's continued expansion in Europe is an integral part of the Company's overall strategy, as the European Union accelerates the energy transition to facilitate greater energy security from clean and cheaper renewable sources
TEL AVIV, Israel, July 5, 2022 /PRNewswire/ -- Enlight Renewable Energy (TASE: ENLT) has signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW. Enlight projects that the projects will commence construction from the end of 2023 through 2025, subject to the successful completion of the development phase for each project.
The portfolio is one of the largest and most advanced portfolios of renewable energy projects in Croatia, and will enable Enlight to diversify its activity in Croatia to include significant solar projects, alongside its existing operational high-quality Lukovac wind project. As a member of the European Union, Croatia has adopted a far-reaching National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from
The acquisition also reinforces Enlight's already strong presence across Central and Eastern Europe, where the Company owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia and Croatia, including 316 MW of operational projects.
Enlight Renewable Energy, founded in 2008 and traded on the Tel Aviv 125 Index is
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SOURCE Enlight Renewable Energy
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