The Tapolca (160 km southwest of Budapest) solar plant began selling electricity commercially on July 31, ahead of schedule, the Israeli renewable energy company announced on Friday. The connection to the grid has increased Enlight’s installed power generation capacity in Hungary to 144 MW.
Situated near the municipality of Tapolca in the Veszprem region of Hungary, the solar farm is expected to produce enough electricity to supply approximately 30,000 local households annually. The electricity generated will be sold at market prices.
The project, realized with an investment of approximately USD 48 million (EUR 43.6 mln), was financed through debt provided by Raiffeisen Bank and USD 21 mln in equity from Enlight. The Israeli company anticipates the solar plant will generate about USD 6 mln in revenue in its first year of operation and contribute around USD 5 mln to its earnings before interest, tax, depreciation, and amortization (EBITDA).
“The continued development and operation of new European projects such as Tapolca is another example of Enlight’s broad international execution capabilities on a number of different continents,” said CEO Gilad Yavetz.
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