Enlight completes its fifth solar project in Hungary

Enlight Renewable Energy, the Israel-based renewable energy platform, has officially launched operations at its Tapolca solar project in Hungary, marking a significant step in its expansion strategy. The 60 MW Tapolca project began commercial electricity sales on July 31, 2024, ahead of schedule, as per the company’s announcement. This development represents Enlight’s fifth solar initiative in Hungary, increasing its total regional capacity to 144 MW. The Tapolca project is projected to generate green power for around 30,000 Hungarian households annually. The project’s total construction cost was $48 million, with first-year revenue expected to be $6 million and EBITDA projected at $5 million. Financing was provided by Raiffeisen Bank of Austria, which closed in March 2024. Enlight contributed $21 million in long-term equity.