Frost & Sullivan Publishes Update Coverage Report on Enlight Renewable Energy LTD: Purchase price/Kw for major project at Emek HaBacha conditional approved by the Electricity Authority; approved Growth in revenues from sales of electricity in Q1-2018; full commercial operation in Ireland and Croatia; progress made on wind farm in Kosovo; stock target price increased to 2.41.

Frost & Sullivan Publishes Update Coverage Report on Enlight Renewable Energy LTD: Purchase price/Kw for major project at Emek HaBacha conditional approved by the Electricity Authority; approved Growth in revenues from sales of electricity in Q1-2018; full commercial operation in Ireland and Croatia; progress made on wind farm in Kosovo; stock target price increased to 2.41.

PR Newswire

TEL AVIV, Israel, July 9, 2018

Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program

TEL AVIV, Israel, July 9, 2018 /PRNewswire/ -- TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.

Summary of Highlights

On the 7th of June 2018, Enlight received notice from the Israeli Electricity Authority that the electricity purchase price per Kw from energy generated by the facility to be established at Emek HaBacha will be ILA 35.81 (Conditional approval).

Revenues grew by NIS 9M in Q1-2018 compared to the corresponding period in 2017. Growth in allocation of electricity receipts over the past 12 months, which totaled NIS 144 million and EBITDA of NIS 135M, compared to NIS 127M in the year 2017.

In light of the above, we increase the company's value to NIS 1.29 billion, corresponding to a target price ranging between NIS 2.29 and NIS 2.54; a mean of NIS 2.41 per share.

Read the full report here.

About the Company - Enlight Renewable Energy Ltd. is an Israeli company founded in 2008, and is publically traded on the Tel Aviv Stock Exchange. The company specializes in the initiation, development, financing, construction, management, and operation of projects involving the generation of electricity from renewable energy sources. It is currently active in the fields of Solar Photovoltaic (PV) and Wind Energies.

About Frost & Sullivan

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Contact:
Kristi Cekani 
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
E: kristi.cekani@frost.com
http://www.frost.com

 

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