Enlight Renewable Energyאנלייט אנרגיה מתחדשת

Head office: 13 Amal St., Rosh Ha’ayin 48103, Israel Tel.: +972-3-9008700 www.enlightenergy.co.il

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A publicly traded Israeli company specializing in building and operating renewable energy projects.

The company has several renewable energy projects in the occupied Syrian Golan and the Naqab (Negev) area in various stages of development.

The company holds a percentage ranging between 51%-100% of the solar energy project Pirut Hagolan located in the Syrian Golan, with power supply of 2.6 MWh and annual revenues of 2 Million NIS. The company also holds 50.1% stake in Solary Tsaff, an additional solar energy project in the Golan, Solary Tsaff project is currently under construction, the estimated power supply of the project is 17MWh and with annual revenues of 7-9 Million NIS.

Additionally, the company is currently developing two large wind energy projects in the Syrian Golan, Emek Habacha and Ruach Beresheet, with total capacity of 109MW and 189MW and ultimate holdings of 40.8% and 60%

In December 2020, the Israel Electric Company (IEC) approved the expansion of Emek Habacha project to include four additional turbines and an increase in power capacity. The expanded project will include 34 wind turbines and power capacity of 109MW (an additional 12.8 MW from the previous plan). Due to this decision the revenues will be expected to increase by 13%, reaching up to 115-120 Million NIS in the first year. The company has signed a set of non-recourse financial agreements with a consortium of lenders led by Bank Hapoalim to increase the senior debt that has been available to the project in the amount of approximately 50 Million NIS. The project site is located in the jurisdiction of the settlements of El-Rum, Kidmat Tsvi, Alonei Habashan, Odem, Ortal, and Neve Ativ.

In January 2020 the Israeli Ministry of Defence (IMOD) signed an agreement to fund developing a technological solution concerning dealing with related ‘security’ aspects regarding wind turbines in Israel. In July 2020, The Ruach Beresheet project reached its final approval stages, including tariff approval, building permits and the conditions precedent for the financial closure to finance the project with a consortium of lenders led by Bank Hapoalim. The project received a non-recourse financing agreement in the amount of 1.05 Billion NIS. Ruach Beresheet revenues are expected to reach 140-160 Million NIS per year, for the duration of the licence of the project which will be spread over 20 years. The construction of the project has begun at the third quarter of 2020, the eligibility for revenues is expected for the first half of 2023. The project site is located in the jurisdiction of the settlements of Yonatan, Alonei Habashan, Ramat Magshimim, Mevo Hama, Natur, Kanaf and Avnei Eitan. The settlements have the option of joining as partners with minority holdings.

In the Naqab area, the company has 8 solar energy projects that are already connected to the IEC grid: Halutziot, Mevtachim, Edan, Ravivim, Cramim, Telmi Yafih, Telmi Bilo, Dorot. Additionally the company is currently developing a wind energy project at the Naqab, at Ya’ar Yatir (Yatir Forest) area. The Yatir forest is Israel’s largest planted forest, planted by the Jewish National Fund (JNF). In August 2019, the District Planning and Building Committee (Southern District) approved the Ya’ar Yatir project, yet a petition against the project is still pending at the Israeli Supreme Court.

For more information, check out our flash Greenwashing the Golan: The Israeli Wind Energy Industry in the Occupied Syrian Golan.



Ownership

The company is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol ENLT.

The main shareholders are: Migdal Insurance and Financial Holdings Ltd (13.66%), Harel Insurance Investments & Financial Services Ltd (9.07%), Clal Insurance Enterprises Holdings Ltd (7.21%), Menora Mivtachim Holdings Ltd (5.49%), The Phoenix Holdings Ltd (4.3%), Meitav Dash Investments Ltd (5.39%), Yelin Lapidot Holdings Management Ltd (3.39%), Excellence Investments Ltd. (1.23%).

Yair Serossi – Chairman.

Gilad Yavetz – CEO and Director.


Subsidiaries

Wholly-owned subsidiaries: Enlight Eshkol Havatselet, Tlamim Enlight, Mevtachim Green Energies, Talmi Bilu Green Energies, Eshkol Ela-Kramim-Enlight, Eshkol Brosh-Idan-Enlight, Eshkol Olive-Olive Green-Enlight, Sadeh Nachmiah Enlight, Enlight – Eshkol Hadasah, Enlight Beit Hashekmah, Enlight EU energies kft.

Partially-owned subsidiaries: Eshkol Havazelet – Halutzyut – Enlight L.P. (89.99%), Golan Fruits – Enlight L.P. (51%), Eshkol Gefen-Barbur-Enlight L.P. (51%), Emek HaBacha Wind Energies Ltd. (41%), Talmei Yafeh San L.P. (50%), Dorot San L.P. (50%), Enlight Cramim L.P. (74%), Orsol Energy 3 (A.A) L.P. (90%), Enlight Kidmat Tzvi L.P. (74%), Enlight – Eshkol Dekel L.P. (50.1%), Enlight – Aveeram Entrepreneurial L.P. (60%), Tullynamoyle Wind Farm 3 Ltd. [Irland] (60%), Vjetroelektrana Lukovac d.o.o [Croatia] (50.1%), EW-K-Wind d.o.o [Serbia] (50.1%), Megujulohaz kft [Hungary] (50.1%), Raaba Green kft [Hungary] (50.1%), SOWI Kosovo LLC [Kosovo] (48%), Vindpark Malarberget I Norberg AB [Sweden] (68.8%), Enlight Beit Hashita Solar Energies (74%), Generacion Eolica Castilla La Mancha Sl [Spain] (72%).


Partners

Israel Electric Company (IEC) | General Electric | “Aviram Ltd.” Group | Avi-Cranes Ltd. | Geokom Civil Engineering & Geology Ltd. | Israeli Ministry of Defence (IMOD)

All the information contained in this page is valid until Wed 25/08/2021