Israeli renewables developer Enlight Renewable Energy Ltd (TLV:ENLT) said on Monday it has commissioned the first turbine at the 207-MW Genesis Wind park in Israel, the country’s biggest renewable energy project.
Located in northern Israel, the wind farm will be powered by 39 General Electric wind turbines. It is expected to be fully operational by the end of the third quarter of 2023, providing generation equivalent to the annual needs of 70,000 households.
With the start-up of the first turbine, Enlight has also energised Israel’s first privately developed HV 161 kV underground cable. The 27-kilometre (16.8 miles) link will transport electricity from Genesis Wind to population centres across the country and provide a connection for additional renewable energy projects that Enlight is developing in the area.
The developer estimates that in its first full year of operations, Genesis Wind will deliver revenues of between USD 50 million (EUR 46.4m) and USD 52 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of USD 40 million to USD 42 million under a 20-year power purchase agreement (PPA) with the Israel Electric Corporation.
(USD 1 = EUR 0.929)
