Enlight Renewable Energy set to remain without controlling shareholder? - Israel’s Eurocom Communications is seeking to sell its shares in the company building the wind farm in Kovacica

Israel’s Eurocom Communications, which is undergoing liquidation proceedings, is seeking to sell its 14.8% holding in Enlight Renewable Energy Solutions Ltd., the company building two wind farms in Croatia and Serbia, with rights for the construction of a third in Kosovo

Eurocom will reportedly sell together with the Weil family, which has an 8.3% stake in Enlight, in what will leave the Israeli renewable energy developer without a controlling shareholder, according to the Israeli financial daily Globes.

In Croatia, Enlight is “on the verge of commercial operation” of the 49 MW Lukovac wind energy project that should generate EUR 14 million a year, while in Serbia, operation of much larger wind energy project is scheduled to begin within a year and generate EUR 28 million in annual revenue, the Israeli portal wrote.

Kovačica, Enlight’s 104.5 MW wind farm under construction in Serbia, is a EUR 189 million investment, backed by EUR 142 million in lending.

Enlight’s rights in Kosovo are for a 105 MW wind energy project worth an estimated EUR 140 million-EUR 180 million. Construction works are expected to start next year, while the wind farm should be operational in 2020.