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Israel’s Enlight buys rights to wind energy project in Kosovo

Israel’s Enlight buys rights to wind energy project in Kosovo

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The 27-wind-turbine farm, which is in advanced stages of development, is expected to bring annual revenue of 25 million euros ($31 million) for the first 12 years and 15 million euros each year after, the company said

Jerusalem: Israel’s Enlight Renewable Energy said on Wednesday it bought the rights to a 105 megawatt wind energy project in Kosovo, its third project in the Balkan region.

* The 27-wind-turbine farm, which is in advanced stages of development, is expected to bring annual revenue of 25 million euros ($31 million) for the first 12 years and 15 million euros each year after, the company said.

* The company said the investment will be between 140-180 euros and it is in talks to secure projct finance for 60-80 percent of the cost.

* Enlight said that after getting needed approvals, it expects to begin construction next year and bring the wind farm online in 2020.

* Enlight is a unit of Israeli holding company Eurocom, which is laden with debt and looking for buyers.

Source: Reuters
Anand Gupta Editor - EQ Int'l Media Network

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