Enlight Renewable Energy has commissioned two new projects in Israel, bringing their number of solar storage units in the country up to 9, the company announced on Sunday.
The Yesha and Re'im projects are just part of the company’s strategy for growth in Israel as they plan to have 12 facilities by the end of 2024 – enabling the total storage capacity of solar-souced energy to reach approximately 250 MW and 600 MWh.
By the end of 2024, Enlight estimates that with the help of international partners, 632 MW of generation and 1,880 MWh of storage will be operating in an integrated configuration.
Now that the Yesha and Re'im projects have been completed, Enlight announced they had accomplished a total capacity of 16 MW of solar power and 94 MWh of energy storage.
Enlight now has a total of four projects connected to the grid in the Gaza border communities since October 2023. Adding to the achievement, these projects were completed despite delays caused by the security situation in the area.
Belectric Israel (credit: Belectric Israel)
Total revenue from the system is expected to reach $35-36 million (NIS 128-135 million) in the first full year of operation, and EBITDA for the first full year of operation is expected to be $24-25 million (NIS 88-93 million).
The solar-plus-storage system aimed to strengthen Israel’s energy security – something that has become of increasing concern in light of regular attacks by enemies in the North and South.
Some of the clean and renewable electricity will be sold to Enlight's new partnership with Electra Power. This will provide green, cheap electricity into residential homes and small businesses.
Bringing light to homes on the front of Hamas's attacks
Gilad Peled, CEO of Enlight MENA said "Enlight continues its construction momentum and is pleased to announce the commercial operation of the third and fourth facilities in the Gaza Envelope (a total of five on the confrontation line), since the events of October 2023. The projects are reaching commercial operation ahead of schedule, thanks to close cooperation with the Israel Electric Corporation and the security forces.
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"The construction of the Yesha and Ra'im projects, like the construction of other projects in the envelope area during the war, demonstrates Enlight's participation in the rehabilitation efforts of the envelope communities and the determination to bring renewed energy, social and agricultural prosperity to the region. In addition, the solar-plus-storage system helps to provide energy security to the State of Israel through a distributed energy model."
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