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Frost & Sullivan Publishes Immediate Update Report on Enlight Renewable Energy Ltd.: Significant regulatory progress brings Enlight closer to final-stage approvals for the Bereshit wind farm; stock target price unchanged.

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Frost & Sullivan Publishes Immediate Update Report on Enlight Renewable Energy Ltd.: Significant regulatory progress brings Enlight closer to final-stage approvals for the Bereshit wind farm; stock target price unchanged.

PR Newswire

Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program

TEL AVIV, Israel, Aug. 6, 2018 /PRNewswire/ -- The TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.

Summary of Highlights

On the 17th of July Enlight released an immediate report detailing a significant milestone.

On July 16, 2018, the National Committee for Planning and Construction of National Infrastructures approved transferring the plan for constructing the 'Bereshit' wind farm for final approval from the Housing Cabinet. To the best of the company's understanding this is only a formal stage towards final approval of the project.

The plan includes the construction of 42 wind turbines in the Tel Peres area in the southeastern Golan Heights. The total capacity of the project is licensed at 130MW, with the company estimating total maximum capacity at 168MW. The progress made to-date mirrors that forecasted in our Q1-2018 report published June 20, 2018.

In our opinion, full operation and electricity revenues are expected in the first half of 2021.

  • The next expected approval is the formal approval of the housing cabinet followed by a tariff rate approval, which is a very significant milestone.
  • The probability of obtaining all the approvals, including approval of the tariff from the Electricity Authority and financial closing, is, in our opinion, 60% for the full operation of the project.

Enlight has once again proved its ability to advance significant projects both in Israel and abroad. We consequently retain our valuation as per our Q1-2018 report published June 20, 2018. Our valuation corresponds to a target price ranging between NIS 2.29 and 2.54; an average of NIS 2.41.

Read the full report here.

About the Company - Enlight Renewable Energy Ltd. is an Israeli company founded in 2008, and is publicly traded on the Tel Aviv Stock Exchange. The company specializes in the initiation, development, financing, construction, management, and operation of projects involving the generation of electricity from renewable energy sources. It is currently active in the fields of Solar Photovoltaic (PV) and Wind Energies.

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us:  Start the discussion

Contact:

Kristi Cekani 
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
E: kristi.cekani@frost.com
http://www.frost.com

 

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SOURCE Frost & Sullivan

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