Israel-based Enlight Renewable Energy has closed agreements for acquiring a 372 MW wind power project in Sweden. The Björnberget project is located in central Sweden and will have 60 wind power turbines based on Siemens Gamesa’s 5.X technology. Enlight will have a 55%-61% share in the project. Meanwhile, the European infrastructure fund Prime Green Energy Investment Fund (PGEIF) will hold the rest. The two parties have also agreed to become strategic development partners for developing renewable power projects in the Nordic region.

The Björnberget project is under implementation with all the main required permits for its construction obtained and is set to begin immediately. RES will provide the civil construction works and asset management services for the project. It will reach commercial operations at the beginning of 2023. The Björnberget project’s total investment is expected to be worth approximately EUR 435-445 million. Out of this, the Enlight’s expected share is EUR 130-140 million, assuming debt financing of 45%-50% which is currently being promoted.

Enlight has a presence in development, financing, construction, and operations of renewable energy generation projects. It operates in Israel and Europe with a diversified portfolio of 1.8 GW of projects during construction and pre-construction and an additional 1.9 GW in initial development stages.