Enlight About To Acquire 525 MW Solar, Wind Projects In Croatia

Israel based clean electricity producer Enlight Renewable Energy has announced the signing of an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW.

These projects are across various stages of development. Enlight says 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.

Enlight claims that the portfolio is one of the largest and most advanced portfolios of renewable energy projects in Croatia, and will enable the company to diversify its activity in Croatia to include significant solar projects, alongside its existing operational high-quality Lukovac wind project.

The official statement of Enlight holds that the acquisition also reinforces the player’s already strong presence across Central and Eastern Europe, where the it owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia and Croatia.

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 28 per cent to over 36 per cent by 2030 and 66 per cent by 2050. Croatia benefits from one of the strongest solar resources in Europe and tapping the potential of its solar resources will be key to achieving the country’s 2030 and 2050 renewable targets.

Enlight Renewable Energy:

Enlight Renewable Energy is among the Israeli leaders in initiation, development, funding, construction and operation of ventures for generation of clean electricity from renewable energy sources. The company is headquartered in Tel Aviv.

It operates in Israel and Europe, benefits from a diverse portfolio of revenue-generating projects that are under construction, leading up to construction and with a signed agreement for the sale of electricity (PPA) with an output of approximately 3,800 MW, approximately 1, 200 MW in advanced development stages and an additional approximately 12,200 MW in various stages of development.

Israel, despite its own low solar potential due to limited land, has incubated a strong ecosystem of solar manufacturing and EV equipment suppliers. In solar, solar maintainance has been a focus area through multiple solar cleaning firms notably Ecoppia, besides SolarEdge, the well known inverter manufacturer of course. For these firms, the default has been to look at global markets obviously.