JERUSALEM, July 5 (Xinhua) -- Israeli company Enlight Renewable Energy announced Thursday that it has signed an agreement to build a wind turbine farm in Spain.

With an investment of 350 million euros (409 million U.S. dollars), the 350-megawatt power plant will be located in Castilla-La Mancha province.

The area is where Don Quixote, the main character in the masterpiece by renowned Spanish writer Miguel de Cervantes, fights the windmills in the novel.

Enlight estimates that the development and financial closures will take 12 to 18 months to complete, and the project will start operating during 2021.

The project is expected to provide the company annual revenues between 34 to 40 million euros in the next 10 years.

Enlight was founded in 2008 with its headquarters located in the city of Rosh HaAyin in central Israel.