Enlight kicks off Hungary solar project

Enlight Renewable Energy, a prominent player in the green energy sector, began production and sales at its EUR 43.29mn Tapolca solar project in west Hungary 60MW ahead of schedule on 31 July.

The Tapolca project will meet the annual needs of about 30,000 Hungarian households, selling electricity at merchant rates. As Enlight’s fifth solar venture in Hungary, Tapolca ups its national capacity to 144MW. 

The project is anticipated to generate around EU 5.4mn in revenue and EBITDA of around EUR 4.5mn. Financing was secured through Raiffeisen Bank in March, with Enlight contributing EUR 16.14mn in long-term equity.

Enlight CEO Gilad Yavetz said the project “highlights Enlight’s ability to execute and manage large-scale projects across various continents”.

Projects such as Tapolca exemplify the Israel-headquartered company’s strategic approach “to diversifying and growing our global portfolio”, he added.