“Energize Israel’s border communities with Enlighten’s renewable power solutions.”

By Oliver Townsend Jul 9, 2024
Enlighten brings renewable energy to Israel's border communities.jpegOrginal image from: https://www.jpost.com/business-and-innovation/energy-and-infrastructure/article-809514

Enlight Renewable Energy is revolutionizing renewable energy in Israel by brightening the energy sector with new solar storage units in border communities. With the completion of the Yesha and Re’im projects, Enlighten has achieved a total capacity of 16 MW of solar power and 94 MWh of energy storage. This milestone marks a significant step towards enhancing Israel’s energy security and sustainability.

Enlighten’s Impact on Israel’s Energy Sector

Enlight Renewable Energy has commissioned two new projects in Israel, bringing the total number of solar storage units in the country to 9. The Yesha and Re’im projects are part of Enlighten’s strategic growth plan to have 12 facilities operational by the end of 2024. This expansion will increase the total storage capacity of solar-sourced energy to approximately 250 MW and 600 MWh, contributing to a more sustainable energy future for Israel.

International Partnerships and Future Growth

By the end of 2024, Enlighten aims to have 632 MW of generation and 1,880 MWh of storage operating in an integrated configuration, with the support of international partners. The completion of the Yesha and Re’im projects demonstrates Enlighten’s commitment to innovation and sustainability in the energy sector. Despite challenges posed by the security situation in the area, Enlighten has successfully connected four projects to the grid in the Gaza border communities since October 2023.

Financial Projections and Strategic Partnerships

Enlighten’s solar-plus-storage system is expected to generate total revenue of $35-36 million (NIS 128-135 million) in the first year of operation, with an estimated EBITDA of $24-25 million (NIS 88-93 million). The partnership with Electra Power will enable the sale of clean and renewable electricity to residential homes and small businesses, providing affordable and sustainable energy solutions to communities affected by regional conflicts.

CEO Perspective and Community Impact

Gilad Peled, CEO of Enlight MENA, highlighted the company’s commitment to bringing energy security and prosperity to border communities in Israel. The completion of the Yesha and Ra’im projects underscores Enlighten’s role in supporting the rehabilitation efforts in the region and contributing to a sustainable future. By providing renewable energy solutions in areas vulnerable to security threats, Enlighten is enhancing the resilience and well-being of communities on the frontlines.

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