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NTA and Enlight Sign a $22m Power Purchase Agreement
ENLTEnlight Renewable Energy .(ENLT) Newsfilter·2025-02-26 21:30

Core Insights - NTA has signed a 5-year Power Purchase Agreement (PPA) with Enlight Renewable Energy valued at 22million,whichwillsignificantlyreduceNTA′selectricitycostsandincludesanoptionforincreasedpurchasevolumes[1][2][3]Group1:AgreementDetails−ThePPAispartofIsrael′sderegulatedelectricitymarket,allowingindependentpowerproducerstoenterdirectsalesagreementswithconsumers[2]−NTAjoinsothernotablecompanieslikeBigShoppingCentersandSodaStreaminpurchasinggreenelectricityfromEnlight,reflectingatrendtowardsenvironmentalresponsibility[2]−TheagreementisexpectedtoreduceNTA′sannualcarbonemissions,equivalenttoplantingapproximately380,000treesorremovingabout9,000fuel−poweredvehiclesfromtheroadeachyear[3]Group2:CompanyImpact−NTA′sCEOhighlightedthatthemasstransitsystemwillalleviatecongestionintheTelAvivregionandisalignedwithglobalstandardsinrenewableenergyusage[4]−ThetransitiontocleanenergyisprojectedtosaveNTAmillionsofShekelsonelectricitybillswhileenhancingitsroleasanenvironmentalleader[4]−EnlightMENA′sCEOnotedthattheagreementsupportsthecompany′sgrowth,whichsawrevenuesinIsraeldoubletoover22 million, which will significantly reduce NTA's electricity costs and includes an option for increased purchase volumes [1][2][3] Group 1: Agreement Details - The PPA is part of Israel's deregulated electricity market, allowing independent power producers to enter direct sales agreements with consumers [2] - NTA joins other notable companies like Big Shopping Centers and SodaStream in purchasing green electricity from Enlight, reflecting a trend towards environmental responsibility [2] - The agreement is expected to reduce NTA's annual carbon emissions, equivalent to planting approximately 380,000 trees or removing about 9,000 fuel-powered vehicles from the road each year [3] Group 2: Company Impact - NTA's CEO highlighted that the mass transit system will alleviate congestion in the Tel Aviv region and is aligned with global standards in renewable energy usage [4] - The transition to clean energy is projected to save NTA millions of Shekels on electricity bills while enhancing its role as an environmental leader [4] - Enlight MENA's CEO noted that the agreement supports the company's growth, which saw revenues in Israel double to over 150 million last year [4] Group 3: NTA Overview - NTA is a government-owned entity responsible for building the mass transit network in metropolitan Tel Aviv, which includes three light rail lines and three metro lines [5] - The project is the largest infrastructure initiative in Israel, with an estimated total cost of approximately ILS 200 billion and an expected annual ridership of 850 million passengers [5] Group 4: Enlight Renewable Energy Overview - Enlight, founded in 2008, focuses on developing, financing, constructing, owning, and operating utility-scale renewable energy projects across solar, wind, and energy storage sectors [6] - The company operates in multiple countries, including the U.S., Israel, and ten European nations, and has been publicly traded since 2010 [6]