February 14, 2016 / 9:31 AM / 2 years ago

Israel group buys 160 mln euro wind farm project in Europe

TEL AVIV, Feb 14 (Reuters) - An Israeli group has agreed to buy the rights to a 105 megawatt wind turbine project in advanced development in central Europe that would cost 160 million euros ($180 million) to build, the companies said on Sunday.

Enlight Renewable Energy and partner Migdal Insurance said they expect to fund the project with debt of up to 70 percent and are in talks for project financing.

Annual revenue from the project is expected to total about 28 million euros.

The group did not say where exactly the turbines were being built.

The project would be Enlight’s largest, and its chief executive has called it a “leap forward in the company’s operations”.

Enlight is part of the Eurocom Group, which also controls Bezeq, Israel’s biggest telecoms group. ($1 = 0.8888 euros) (Reporting by Tova Cohen)

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