Enlight Renewable Energy Ltd. has begun commercial operations at a 60-megawatt PV plant near Tapolca, ahead of schedule. The new solar plant brings the company’s total installed capacity in Hungary to 144 megawatts, enough to power 30,000 households annually.
Enlight’s Fifth PV Plant in Hungary
Enlight Renewable Energy Ltd. has commenced commercial operations at a 60-megawatt solar PV plant, marking the company’s fifth project in Hungary. The plant, located near the municipality of Tapolca in the Veszprem region, began selling electricity commercially on July 31, ahead of schedule. Situated approximately 160 kilometers southwest of Budapest, its connection to the grid brings Enlight’s total installed power generation capacity in Hungary to 144 megawatts.
The PV plant is expected to generate enough electricity to supply around 30,000 local households annually. Its output will be sold at market prices to contribute to the country’s renewable energy supply. The project was completed with an investment of about USD 48 million (EUR 43.6 million), with Raiffeisen Bank providing debt financing and Enlight contributing USD 21 million in equity. During its first year of operation, Enlight expects the solar plant to generate approximately USD 6 million in revenue and add around USD 5 million to its earnings before interest, tax, depreciation, and amortization (EBITDA).
Enlight’s Expanding Renewable Energy in Europe
The Tapolca PV plant marks another step in Enlight’s European expansion, as the company actively develops renewable energy projects on several continents. Gilad Yavetz, CEO of Enlight Renewable Energy, commented on the project’s successful launch. “The continued development and operation of new European projects such as Tapolca is another example of Enlight’s broad international execution capabilities on a number of different continents,” Yavetz said.
Enlight’s Tapolca PV plant boosts Hungary’s renewable energy efforts and supports its climate goals.
The company has already completed several projects in Hungary and is planning further developments in the region. Hungary is actively promoting renewable energy to reduce its reliance on fossil fuels, with the goal of increasing its share of the electricity generation mix to 21% by 2030. Government support includes various incentives and subsidies, as well as an improving regulatory framework that makes it easier for companies like Enlight to invest in the sector.
Looking Ahead
The successful, ahead-of-schedule launch of the Tapolca solar plant demonstrates Enlight’s ability to apply its experience and navigate the challenges of developing renewable energy projects in different regions. The company’s strong track record has made it a trusted partner for the financial institutions that finance its projects.
Looking ahead, Enlight Renewable Energy plans to continue its expansion, exploring new opportunities in Europe and other regions with a growing demand for clean energy. The company is committed to contributing to the global transition to renewables and helping countries achieve their climate goals.
The start of commercial operations at the Tapolca plant is a significant milestone for Enlight, increasing Hungary’s renewable energy capacity while reinforcing the company’s position as a leading player in the global renewable energy market. As the world continues to shift towards cleaner energy sources, companies like Enlight will play a crucial role in shaping the future of energy.
