Arad Valley 1 is the second combined solar and storage project to reach commercial operation in Israel, following the connection of Sde Nitzan in August 2023. Enlight now has an operational portfolio of combined solar and storage projects of 40 MW solar and 71 MWh of storage.
Both Arad Valley 1 and Sde Nitzan are part of a cluster of combined solar and storage facilities being built by Enlight in Israel, with a total generation capacity of 248 MW and 474 MWh of storage. The remainder of the projects under construction are expected to reach commercial operation gradually until the end of 1H24. The entire cluster is expected to generate revenues of USD$35 – US$36 million and EBITDA of USD$25 –US$26 million in the first full year of operation (including Arad Valley 1 and Sde Nitzan).
Energy generated by the cluster of combined solar and storage projects is expected to be sold through Enlight's integrated power supply model in Israel. Electricity is expected to be sold under the company’s recently signed corporate power purchase agreements and under Enlight’s new partnership with Electra Power, targeting residential and small business consumers. The direct sale of electricity to Israeli customers will be possible following the full market liberalisation slated for January 2024.
