Analyte Energy: The Electricity Authority has approved an increase in power in the Golan Heights – the capital market

The Electricity Authority approved to

Analyte Energy
+ 1.55%

Base:644

opening:650.2

Tall:656

low:649.5

change:3,692,785

Page Quote News Graphs Company Profile Recommendations


More articles on the subject:




To increase the output of the project in the “Valley of Weeping” in the Golan Heights. Approval of a tariff and approval of meeting all the conditions for financial closure for increasing the farm’s power by an additional 12.8 megawatts, ie, from 96 megawatts to a total of about 109 megawatts, through the construction of 4 additional turbines in the farm area, so that the enlarged farm will include 34 turbines Breeze.

The company’s share is currently up 1.7% and completes a rise of more than 50% in 2020 as part of the surge in the green energy industry. Of this, the market value of Enlight Energy has already reached more than NIS 5 billion.

According to the approval received, the sale rate to the electricity grid for the additional 12.8 megawatts will be 28.19 cents per kWh linked to the consumer price index, and accordingly the weighted rate for the entire project will be 34.91 cents per kWh linked to the consumer price index.
As a result of the expansion of the project and in accordance with its increased production capacity, the project’s revenues from electricity receipts are expected to increase by 13% and stand at NIS 115-120 million in a representative first year, after which they will be linked to the price index for the license period. The project. The average EBITDA rate is expected to be about 80%. The cost of establishing the overall project, including its current expansion, is estimated at NIS 705-715 million.

The project is in advanced stages of construction and its expansion will be carried out immediately, within the planned schedules of the project and is not expected to delay its launch date which is planned, according to the company, for the first half of 2021. As part of construction work, 29 wind turbines have been completed so far.

Increasing the senior debt of the project – the company signed a series of financing agreements to increase the senior debt that was made to it in July 2018 by a lending consortium headed by Bank Hapoalim Ltd. and in cooperation with the Phoenix and Harel groups. The additional debt is NIS 50 million. Without the right of return to the owner) and constitutes the full cost of construction for the expansion of the project.The leverage rate of the entire project will be about 80%.

As part of the signing of the financing agreements to increase the senior debt as stated above, the repayment period of the loan was extended to 19 years and the other main financing terms remained the same.

The renewable energy company reported a 48% increase in third quarter revenues to NIS 64 million, operating profit more than doubled and the company moved to a profit of NIS 9.4 million compared to a loss of NIS 20 million in the corresponding quarter last year. However, after a jump of hundreds of percent in recent years, the company is traded at a market value of about NIS 5.5 billion.

Analyte’s revenues in the third quarter of 2020 amounted to NIS 64.2 million, an increase of 48% to NIS 43.3 million in the corresponding quarter last year.

In the bottom line, the company reports a net profit of NIS 9.4 million, compared with a loss of NIS 20 million in the corresponding quarter last year.