Enlight’s 60-MW PV Plant Starts Operation in Hungary

Enlight Renewable Energy has officially commenced commercial operations at its newest solar farm in Hungary, a 60-megawatt facility located near Tapolca in the Veszprém region. The project, which began selling electricity to the grid on July 31, was completed ahead of its original schedule, highlighting the company’s execution capabilities.

The Tapolca Solar PV Park I represents Enlight’s fifth major project in the country, effectively boosting its total installed capacity in Hungary to 144 MW. This new ground-mounted photovoltaic plant is expected to generate enough clean electricity to power approximately 30,000 local households annually, contributing significantly to the nation’s renewable energy supply.

Financed through a combination of debt from Raiffeisen Bank and a USD 21 million equity investment from Enlight, the total project cost was approximately USD 48 million (EUR 43.6 million). The company anticipates that the facility will generate around USD 6 million in revenue and contribute USD 5 million to its EBITDA during its first full year of operation. The electricity produced will be sold at market prices.

The successful launch reinforces Enlight’s growing footprint across Europe and globally. Gilad Yavetz, CEO of Enlight Renewable Energy, noted the project’s significance, stating, “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.” This expansion aligns with Hungary’s climate objectives, which include increasing the share of renewables in its electricity mix to 21% by 2030.

By bringing another large-scale solar project online, Enlight not only strengthens its position as a leading international developer but also supports Hungary’s transition away from fossil fuels. The ahead-of-schedule completion of the Tapolca plant serves as a key milestone, demonstrating the company’s ability to navigate and deliver complex energy projects efficiently.

Sources for Enlight’s 60-MW PV Plant Starts Operation in Hungary

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5. Earnings call: Enlight Renewable Energy Raises 2024 Guidance
6. Tapolca solar farm – Global Energy Monitor
7. Power plant profile: Tapolca Solar PV Park I, Hungary
8. Enlight Renewable Energy Ltd. – SEC Filing