Enlighten brings renewable energy to Israel’s border communities

Enlighten Renewable Energy said on Sunday it has launched two new projects in Israel, bringing the number of solar energy storage facilities it has in the country to nine.

The Yesha and Re’im projects are part of the company’s expansion strategy in Israel, which includes the construction of 12 facilities by the end of 2024, providing a total solar energy storage capacity of approximately 250 MW and 600 MWh.

Enlighten estimates that by the end of 2024, with the help of international partners, the integrated configuration will be able to produce 632 MW of electricity and store 1,880 MWh of energy.

With the completion of the Yesha and Re’im projects, Enlighten announced that it has achieved a total capacity of 16 MW of solar energy and 94 MWh of stored energy.

Since October 2023, Enlight has completed a total of four projects connected to the grid in border communities in the Gaza Strip. An additional achievement is the fact that these projects were completed despite delays caused by the security situation in the area.

Belectric Israel (source: Belectric Israel)

Total system revenue 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 system, which combines solar power with energy storage, was intended to bolster Israel’s energy security, a growing concern in the face of regular attacks by enemies from both the North and South.

A portion of the clean, renewable electricity will be sold to Enlight’s new partnership with Electra Power, which will provide green, low-cost electricity for homes and small businesses.

Bringing Light to Homes on the Front Line of Hamas Attacks

Gilad Peled, CEO of Enlight MENA, said: “Enlight continues its construction momentum and is pleased to announce the commercial launch of the third and fourth facilities in the Gaza Strip (totaling five on the line of confrontation) since the events of October 2023. The projects are achieving commercial operation ahead of schedule, thanks to close cooperation with the Israel Electric Corporation and the security forces.

“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 efforts to rehabilitate the envelope communities and its determination to bring renewed energy, social and agricultural prosperity to the region. In addition, the solar-plus-storage system helps ensure energy security for the State of Israel through a distributed energy model.”