Enlight Renewable Energy, a leading renewable energy platform, has signed a 12-year electricity supply agreement with Vishay Israel Ltd., valued at approximately $105 million. The contract includes an option to significantly increase electricity consumption over its duration.
Vishay joins a growing list of major Israeli organizations—including the Weizmann Institute of Science, NTA Metropolitan Mass Transit, Amdocs, Big Shopping Centers, SodaStream, and Applied Materials—that have recently partnered with Enlight for clean energy supply.
As the owner of Israel’s largest portfolio of renewable energy assets, Enlight is at the forefront of the country’s transition to clean power, enabled by the recent deregulation of the electricity market that allows large consumers to contract directly with energy producers.
The agreement will help Vishay—one of the world’s largest producers of discrete semiconductors and passive electronic components—significantly lower its electricity costs in Israel. It will also support major environmental benefits, with emission reductions equivalent to planting around 740,000 trees annually or removing approximately 17,000 fuel-powered vehicles from the road each year.Gilad Peled, CEO of Enlight MENA, commented, “Enlight congratulates Vishay, one of the largest electronic component manufacturers in the world, on its decision to switch its plants in Israel to clean and environmentally friendly energy. This deal follows a series of agreements we have reached with some of the highest-quality companies in Israel. These firms have chosen to lead on environmental responsibility, and are an example to the entire economy. In addition to its environmental benefits, the agreement with Enlight will allow Vishay’s plants in Israel to save millions of dollars on their electricity bills, and serves as another example of how renewable energy increases competition and reduces power costs in Israel.”
Boaz Bazak, Director of IEHS, Vishay Israel, commented, “The agreement marks a significant step in our ongoing commitment to sustainability and energy efficiency. This partnership will provide our manufacturing facilities with clean, reliable energy at lower rates, enhancing our operational efficiency and reducing our environmental impact. It aligns perfectly with our mission to promote sustainability and reduce our carbon footprint. By securing renewable electricity at a discounted price, we can continue to grow while supporting global efforts to combat climate change.”
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