Enlight Renewable Energy is a publicly traded company, headquartered in

Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...

, that builds and operates solar and wind power facilities. Its shares are traded on the

Tel Aviv Stock Exchange The Tel Aviv Stock Exchange (TASE; ), colloquially known as The Bursa, is the only public stock exchange in Israel and a public company itself, listed on its own exchange since August 1, 2019. It is regulated by the ''Securities Law (1968)'' a ...

Operations

Enlight Renewable Energy operates in the

renewable energy industry The renewable-energy industry is the part of the energy industry focusing on new and appropriate renewable energy technologies. Investors worldwide are increasingly paying greater attention to this emerging industry. In many cases, this has transl ...

as a developer and operator of solar and wind power facilities. It owns rights to

photovoltaic Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and electrochemistry. The photovoltaic effect is commercially ...

facilities in Israel and Italy.

Italy

In November 2010 Enlight signed agreements with two Italian companies for the establishment of Italy-based SPVs to lead the development of solar energy farms and rooftop solar energy projects in Italy.

Israel

In January 2011 Enlight won a state tender to install

photovoltaic panel Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and electrochemistry. The photovoltaic effect is commercially ...

s above the roofs of buildings on Israeli military bases. In August 2011 Enlight entered into agreements with six communities in the

Golan Heights The Golan Heights, or simply the Golan, is a basaltic plateau at the southwest corner of Syria. It is bordered by the Yarmouk River in the south, the Sea of Galilee and Hula Valley in the west, the Anti-Lebanon mountains with Mount Hermon in t ...

to construct

wind turbine A wind turbine is a device that wind power, converts the kinetic energy of wind into electrical energy. , hundreds of thousands of list of most powerful wind turbines, large turbines, in installations known as wind farms, were generating over ...

s on their land, subject to regulatory approval and clearance from Israel's Ministry of Defense. Enlight led the development of the Halutziot project, one of Israel's largest solar energy undertakings, in the western

Negev The Negev ( ; ) or Naqab (), is a desert and semidesert region of southern Israel. The region's largest city and administrative capital is Beersheba (pop. ), in the north. At its southern end is the Gulf of Aqaba and the resort town, resort city ...

. At a capacity of 55 MW and an area of 0.8 km², Halutziot was the largest solar power station in Israel upon its completion in 2015. The projected cost of the Halutziot project is , and the gross income over a period of twenty years based on a rate of ₪0.62 per kilowatt hour is estimated at . In June 2018, Enlight received permission to build Israel's largest wind power station, to be completed in 2020–2021. The plant, located in the

Valley of Tears The Valley of Tears (, ''Emek HaBakha'') is the name given to an area in the Golan Heights after it became the site of a major battle in 1973 during the Yom Kippur War, known as the Valley (or Vale) of Tears Battle, which was fought from 6 Oc ...

, will generate 96–99 MW of electricity. However, due to various factors, the project achieved full commercial operation in the end of the third quarter of 2023.

Sweden

In October 2020, Enlight acquired Swedish wind power project Björnberget, located in central Sweden and expected to contain 60 wind turbines. The first turbine became operational in 2022 and Enlight expected completion by 2023.

United States

Enlight announced its acquisition of a controlling (90% stake) interest in U.S. solar and storage developer Clēneras, in June 2021. Through a wholly-owned U.S. subsidiary, Enlight paid $433 million to acquire the Boise, Idaho company. Clēnera's founders, Jason Ellsworth and Adam Pishl retain 10% of Clēnera's shares.

Business model

Enlight describes itself as a

vertical integration In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each ...

company, capable of operating in all four areas of the

energy production Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include the production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and re ...

chain so as to reduce licensing timeframes and generate higher returns on investments. The first of the four areas is the ''initiation'' stage, which involves locating suitable land or rooftops and entering into agreements with the owners; the second is the ''development and planning'' stage, which involves planning the facility and obtaining regulatory clearance; the third is the ''financing and installation'' stage, which involves financing the project and connecting the facility to the electricity grid; the fourth and last is the ''electricity sale, operation and maintenance'' stage, which involves selling the electricity produced and managing the facility.

Corporate history

Enlight Energy was founded by Gilad Yavetz, Zafrir Yoeli and Amit Paz. The company joined the Tel Aviv Stock Exchange in June 2010 through a

reverse merger A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compa ...

with Sahar Investments Ltd. Sahar, which prior to the merger was a

shell company A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial ...

belonging to

Shaul Elovitch Shaul Elovitch (; born 1948) is an Israeli businessman and the owner of Eurocom Group, one of the largest private holding groups in Israel. Background Shaul Elovitch was born in 1948 in Poland and made aliyah to Israel when he was two years ol ...

's Eurocom Group, subsequently changed its name to Enlight Renewable Energy Ltd.

References

External links

Eurocom Group
{{Eurocom Group Energy companies of Israel Renewable energy companies of Asia Renewable energy in Israel Solar energy in Israel Energy companies established in 2008 Renewable resource companies established in 2008 Companies listed on the Tel Aviv Stock Exchange Israeli companies established in 2008 he:אנלייט אנרגיה מתחדשת