Enlight Renewable Energy is a publicly traded company, headquartered in

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

, 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 Israel's only public stock exchange and a public company that has been traded on the Tel-Aviv Stock Exchange since August 1, 2019. Legally, the exchange is regulated by ...

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 have paid greater attention to this emerging industry in recent years. In many cases, this has tra ...

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 us ...

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 ( ar, هَضْبَةُ الْجَوْلَانِ, Haḍbatu l-Jawlān or ; he, רמת הגולן, ), or simply the Golan, is a region in the Levant spanning about . The region defined as the Golan Heights differs between d ...

to construct

wind turbine A wind turbine is a device that converts the kinetic energy of wind into electrical energy. Hundreds of thousands of large turbines, in installations known as wind farms, now generate over 650 gigawatts of power, with 60 GW added each year. W ...

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 Negeb (; he, הַנֶּגֶב, hanNegév; ar, ٱلنَّقَب, an-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 southe ...

. 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 ( he, עֵמֶק הַבָּכָא, ''Emek HaBakha'') is the name given to an area in the Golan Heights after it became the site of a major battle in the 1973 Yom Kippur War, known as the Valley (or Vale) of Tears Battle, w ...

, will generate 96–99 MW of electricity.

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 is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply ...

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 production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reus ...

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 that exists only on paper and has no office and no employees, but may have a bank account or may hold passive investments or be the registered owner of assets, such as intellectual property, or ...

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 old ...

'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