Enlight Renewable Vitality is to amass and co-develop virtually 400MW of photo voltaic PV in Croatia, bolstering its place in Europe’s photo voltaic market.
The Israel-headquartered unbiased energy producer (IPP) has agreed to amass a 525MW portfolio of photo voltaic and wind initiatives within the nation that are at numerous phases of growth.
The portfolio contains 4 photo voltaic initiatives with a mixed producing capability of 386MW and one wind undertaking with a complete capability of 139MW.
Building of the portfolio is anticipated to start between the tip of 2023 and 2025, Enlight stated.
Whereas Enlight already has an operational onshore wind farm in Croatia – the 48.75MW Lukovac undertaking in Break up-Dalmatia – the deal marks the IPP’s maiden funding in Croatian photo voltaic and strengthens its presence in Central and Jap European (CEE) photo voltaic markets.
Enlight’s CEE renewables portfolio at present consists of initiatives in Hungary, Kosovo and Serbia, in addition to Croatia. Its portfolio stands at 1.2GW, of which 316MW is operational.
Enlight has traditionally regarded to bolster its portfolio by means of M&A exercise, final yr buying a 90% stake in US photo voltaic and storage developer Clēnera in June 2021 earlier than selecting up a 490MWdc array of Spanish photo voltaic initiatives from Cerberus Capital Administration later that yr.