BIG Energia Holdings has won an international tender for the construction of a combined wind and solar project in Bileća in Bosnia and Herzegovina and has entered into a long-term lease on land in Romania for the construction of a solar power plant.
BIG Energia Holdings, a Hungarian subsidiary of Israel-based BIG Shopping Centers, has been selected in an international tender for a combined wind and solar project in Bosnia and Herzegovina, in partnership with Mega Or Holdings and through from a local business. The power plant is expected to be built on state-owned land near the village of Planik in Bileća.
The future renewable energy facility includes an 80 MW solar farm and a 40 MW wind farm. The cost of development and construction will be around 108 million euros, the company told Balkan Green Energy News. It estimates that gross revenue from electricity sales would reach €14.6 million in the first year of operation after balancing payments to the electricity grid (based on a sale price of €60 per MWh). Total EBITDA is estimated at around 13 million euros per year.
Bileća, located in the eastern region of Herzegovina, is one of the favorite destinations in the country and beyond for solar energy investments.
A new solar project in Romania is worth 26 million euros
In addition, the company announced that its Hungarian subsidiary BIG Energia Holdings entered into a long-term land lease agreement, through a Romanian company it owns, with the aim of building a photovoltaic power plant. The cost of development and construction is estimated at 26 million euros. The contract is for 35 years with an option for an additional 25 years.
The company said gross revenues would reach around 3.5 million euros in the first year of operation after balancing payments to the electricity grid, based on a sale price of 60 euros per MWh. Total EBITDA is estimated at 3 million euros per year.
The solar farm near Roşiori and Troianul in southern Romania will have an estimated installed capacity of 40 MW.
BIG’s Renewable Energy Project Pipeline Reaches 1.4GW
The CEO of the company’s European operations, Yossi Edelstein, said that over the past year it has acquired projects amounting to 500 MW, translating into investments of 520 million euros in total. It manages a total project portfolio of 1.4 GW, reflecting the strategy to invest in green energy companies and become a major and dominant renewable energy player in Eastern Europe and the Balkans. Construction of some projects is expected to begin in 2023.
Construction of some of the renewable power plants is expected to begin next year
Management plans to identify additional investment opportunities in the sector in Eastern Europe and the Balkans if they meet the company’s investment criteria.
Environmental policy is at the heart of the company’s DNA
“As an integral part of project development, we conduct environmental studies to the highest international standards, while taking into account all relevant factors and communicating with the local population who live in the area surrounding the projects we are working on. let’s develop. Environmental protection is at the heart of the company’s operations, which promotes green energy activity in the target countries within the framework of a well-defined environmental policy which is a central element of the company’s DNA. ‘company,’ the statement added.
The above information regarding the projects, including project data, signature of license agreement, likelihood of funding close, schedules, costs, revenues and total revenues, are all forward-looking information, as as defined in the Securities Act of 1968. , and only an estimate based on information, estimates and data available to management of the company as of the date of the report, BIG Shopping Centers said.
BIG Shopping Centers is focused on developing, operating and investing in outdoor shopping and lifestyle centers, logistics, offices, and residential and renewable energy.
BIG was established in 1994 by Yehuda Naftali. It is a leading real estate group in Israel, which focuses on the development, operation and investment in shopping and outdoor lifestyle centers, logistics, offices and energies residential and renewable. BIG has been a public company listed on the Tel Aviv Stock Exchange since 2006, with a market capitalization of €3.1 billion as of December 31, 2021.
It is included in the prestigious TA-35 index of 35 leading companies listed on the stock exchange in Israel. BIG is the majority shareholder (approximately 85%) of AFI Properties Ltd. As of January 2021, AFI Properties is a leading entrepreneurial high yield real estate asset company, focusing primarily on the office and residential sectors.
The company operates in Israel, Serbia, Romania, Poland and the Czech Republic. AFI Properties was listed on the Tel Aviv Stock Exchange in 2004. Its market capitalization was €2.1 billion as of December 31, 2021.
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