Enlight Secures 15-Year Power Purchase Agreement For The Pupin Wind Farm In Serbia
Portfolio Pulse from Benzinga Newsdesk
Enlight Renewable Energy (NASDAQ:ENLT) has secured a 15-year power purchase agreement for its Pupin wind farm in Serbia. The state-owned utility Elektroprivreda Srbije will purchase 72% of the project's output at a price of EUR 69 per MWh. The Pupin project, with a total generation capacity of 94 megawatts, will cost USD$149-157 million and is expected to generate revenues of USD$22-24 million and EBITDA of USD$13-15 million in its first full year of operation. Enlight is set to acquire a 66% stake in the project, subject to regulatory approval.
October 02, 2023 | 2:05 pm
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Enlight Renewable Energy has secured a 15-year power purchase agreement for its Pupin wind farm in Serbia, which is expected to generate significant revenues in its first year of operation.
The news of Enlight securing a 15-year power purchase agreement for its Pupin wind farm in Serbia is a positive development for the company. This agreement not only provides a steady revenue stream for the next 15 years, but also validates the company's investment in the project. The expected revenues and EBITDA from the project in its first year of operation are significant, which could positively impact the company's financial performance and potentially its stock price.
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