Enlight inks 1st corp PPA in Israel with software giant Amdocs

Israeli renewables developer Enlight Renewable Energy Ltd (TLV:ENLT, NASDAQ:ENLT) has inked an agreement to supply power to a new office campus of US software company Amdocs (NASDAQ:DOX).

The 12-year contract, which marks Enlight’s first corporate power purchase agreement (PPA), will cover 100% of the power demand of the Amdocs Park in Ra'anana, central Israel, that spans dozens of acres, a press release said on Monday.

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The electricity to be delivered to Amdocs’ complex will be sourced from Enlight’s solar and storage facilities currently under construction in Israel. Further details were not provided.

“We have entered a new era in Israel of solar generation, storage, and electricity supply through corporate PPAs to large customers. This revolution has occurred thanks to the de-regulation process of the Israeli Electricity Authority,” said Enlight’s CEO Gilad Yavetz.

Enlight, established in 2008, develops utility-scale renewable energy projects and operates across the US, Israel and nine European countries.