Enlight Energy: Agreement for the sale of half of the electricity in the Bjorn project in Sweden – gas and oil

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Reports the signing of a PPA for half of the electricity generated by the wind energy project in Sweden, the Bjorn project, which is in its infancy and is expected to start commercial operation at the end of 2022. Revenue is estimated at € 570 million over 10 years.

The project company, whose total power is expected to be 372 megawatts, has entered into an agreement with Tier 1 International Corporation (Power Purchase Agreement (PPA) to sell 50% of the electricity actually generated in the project and to supply electricity to the grid for a period of 10 years at a fixed rate.

In accordance with the strategy previously reported by the company, the balance of electricity production will be sold under market conditions, at Nord Pool, which is the largest electricity market in Europe.

Based on the project’s projected production capacity and based on the above sales mix and electricity price forecasts in Sweden, the project’s total electricity receipts are expected to total around € 30 million in the first year, and around € 60 million per year on average for the entire operating period.

Gilad Yabetz, CEO of Analite: “This is Analyte’s second agreement to sell electricity produced at its wind farms in Europe to large global corporations. In doing so, we are establishing ourselves at the forefront of the global trend in the field of CORPORATE PPAs, a growing field where we are accumulating core competencies and competitive advantages.”