Enlight secures funding for Israeli wind farm

Enlight Renewable Energy

09/07/2018 09:28

JERUSALEM, July 9 (Reuters) - Enlight Renewable Energy
 ENLT.TA  said on Monday it secured 525 million shekels ($145
million) in financing to build Israel's largest wind energy
project.
    The total cost for the 96 megawatt wind farm is 660 million
shekels, Enlight said. Israel's Bank Hapoalim  POLI.TA  led the
financing, together with Harel Insurance  HARL.TA  and Phoenix
Holdings  PHOE1.TA .
    The project will be constructed by Enlight and its partners
over two years in the Israeli-controlled Golan Heights, near the
frontier with Syria.
    Enlight, which is a part owner in the group building the
wind farm, said they signed with General Electric  GE.N  a
turbine supply agreement, as well as a full service agreement to
operate the wind farm for 20 years.
    Revenue from the project is expected to be 100-110 million
shekels a year for 20 years
($1 = 3.6182 shekels)

 (Reporting by Ari Rabinovitch; Editing by Tova Cohen)
 ((ari.rabinovitch@thomsonreuters.com;  +972-2-632-2202; Reuters
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))