Brief

Enlight Renewable Energy Buys Rights for Wind Turbine Farm in Spain

The investment required for the 300-megawatt project is between 310 million and 350 million euros

Enlight Renewable Energy Ltd. has agreed to buy the rights to develop a wind turbine farm in the Castilla-La Mancha region of Spain, the Israel-based company told its investors on Wednesday. The 300-megawatt Gecama project is expected to bring in annual revenue of 34 million-40 million euros in the first 10 years, and 40 million-50 million euros after. The investment required for the 80-turbine project is between 310 million and 350 million euros, 20 million-30 million of which will be used to pay for the rights and the rest will go toward construction.

 

Wind turbine (illustration). Photo: AFP