The Project incorporates 60 MW of solar generation capacity, and cost $48 million to construct Tapolca is Enlight's fifth project in Hungary, bringing the Company to a total of 144 MW of operating generation capacity in the country TEL AVIV, Israel, Aug. 18, 2024 (GLOBE NEWSWIRE) -- Enlight Renewable Energy ("Enlight", "the Company", NASDAQ: ENLT, TASE: ENLT.TA), a leading renewable energy platform, announces the commencement of operations at the Tapolca solar project ("the Project") in Hungary, which has a ...

Financial Data and Key Metrics Changes - Revenue for the first half of 2024 grew 42% to $175 million compared to the same period in 2023, while Adjusted EBITDA increased 33% to $126 million [5] - For Q2 2024, revenue was up 61% to $85 million, and Adjusted EBITDA grew 39% to $58 million, although net income decreased to $9 million from $22 million due to inflation indexation impacts [6][19] - Cash flow from operations rose to $56 million, up 42% year-over-year [21] Business Line Data and Key Metrics Changes - The U.S. projects contributed significantly to revenue growth, with 12 new projects starting to sell electricity, including Genesis Wind and the Israel Storage and Solar Cluster [18] - Gecama's revenues increased 37% year-over-year to $13 million, benefiting from positive pricing and production trends [19] Market Data and Key Metrics Changes - The U.S. electricity demand is rising rapidly, with two-thirds of the growth attributed to data centers, AI, and electric vehicles, leading to higher PPA prices [8] - Spanish electricity prices are currently in the €60 to €70 range, positively impacting the financial performance of Gecama [10] Company Strategy and Development Direction - Enlight is executing a major expansion plan, aiming to triple its global generation and storage capacity to 5.4 GW and 5.9 GWh by 2027 [7] - The company is focusing on diversifying its supply chain and pursuing domestic content qualifications in light of the current U.S. regulatory environment [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the U.S. market's potential for rapid growth, citing favorable equipment costs and rising PPA prices [12] - The company raised its full-year 2024 guidance for revenues to $345 million to $360 million and for EBITDA to $245 million to $260 million, reflecting strong operational performance [22] Other Important Information - Enlight completed construction on 0.5 GW and 1.4 GWh of capacity in 2024, including the Atrisco Solar and Energy project [7] - The company has secured $407 million in financing for the Atrisco Energy Storage project, completing the financing for the entire complex [21] Q&A Session Summary Question: How much of your capacity planned for completion through 2027 is uncontracted? - Most projects are contracted, but the advanced development portfolio is completely uncontracted, with expectations for PPA prices to remain stable or increase [25][27] Question: Where are you in the procurement process for Quail Ranch, Roadrunner, and Country Acres? - The company has secured a reliable supply of panels from non-AD/CVD impacted countries, with current prices lower than at the beginning of 2023 [29] Question: Can you confirm on the unlevered returns? - The tax equity adder for domestic content is not included in the current model, representing an upside potential [35] Question: Can you elaborate on the Interconnection Q reform for CO Bar in Arizona? - The company is awaiting clarity on the regulatory order and expects to receive it in the coming months [41][42] Question: What is the potential capacity in the advanced development portfolio? - The advanced development portfolio could include about 4 GW of generation and up to 14 GW of storage capacity [44]

All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted TEL AVIV, Israel, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Enlight Renewable Energy Ltd. (NASDAQ:ENLT, TASE: ENLT))) today reported financial results for the second quarter ending June 30, 2024. The Company's earnings conference call and webcast will be held today at 8:00 AM ET. Registration links to both the call and the webcast can be found at the end of this earnings release. The entire suite of the Company's 2Q24 fina ...

All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted TEL AVIV, Israel, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Enlight Renewable Energy Ltd. (NASDAQ:ENLT, TASE: ENLT))) today reported financial results for the second quarter ending June 30, 2024. The Company's earnings conference call and webcast will be held today at 8:00 AM ET. Registration links to both the call and the webcast can be found at the end of this earnings release. The entire suite of the Company's 2Q24 fina ...

Exhibit 99.1 Press Release ENLIGHT RENEWABLE ENERGY REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted TEL AVIV, ISRAEL, August 7, 2024 – Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the second quarter ending June 30, 2024. The Company's earnings conference call and webcast will be held today at 8:00 AM ET. Registration links to both the call and the webcast can be found ...

Core Insights - Enlight Renewable Energy Ltd. has successfully closed financing for the Energy Storage portion of its Atrisco Solar and Energy Storage project, which combines 364 MW of solar generation capacity with 1.2 GWh of battery storage capacity, expected to reach full Commercial Operation Date (COD) later this year [1][9]. Financing Details - The financing includes a loan agreement totaling $401 million with a consortium of eight global banks led by HSBC, which will convert into a $185 million term loan and $222 million in tax equity financing upon project COD [2][10]. - The term loan has a 20-year amortization profile with a 5-year mini perm and an all-in interest rate of 5.6% to 5.9% [2]. Financial Projections - The total project cost for Atrisco is $827 million, with $290 million in term debt and $420 million in tax equity, covering 86% of the total cost, while Enlight's long-term equity investment amounts to $117 million [9][11]. - Expected revenues for the Atrisco Energy Storage project in its first full year are projected to be between $32 million and $34 million, with expected EBITDA between $27 million and $29 million [4][5]. Future Growth and Expansion - Enlight plans to recycle $234 million of equity back to its balance sheet for future growth, with Atrisco being the second of several major solar and energy storage projects planned in the U.S. [3][6]. - The share of U.S. generation capacity within Enlight's total installed base is expected to rise from 5% at the end of 2023 to 59% by the end of 2026, indicating significant expansion in the U.S. renewable energy market [6]. Project Characteristics - Atrisco is located on a desert plateau with high solar irradiation and spans approximately 1,700 acres, expected to provide clean electricity equivalent to the average annual consumption of about 110,000 New Mexico households [13]. - The project construction was led by RES, and the battery energy storage system was provided by Tesla, showcasing collaboration with leading industry players [13].

Atrisco is located on a desert plateau with extremely high solar irradiation and is sized at approximately 1,700 acres. The project construction was led by RES, one of the leading EPC contractors in the U.S., and the battery energy storage system provided by Tesla. Atrisco is expected to provide clean electricity equivalent to the average annual consumption of approximately 110,000 New Mexico households through a 20-year busbar PPA agreement with Public Service Company of New Mexico covering both electricit ...

TEL AVIV, Israel, July 19, 2024 (GLOBE NEWSWIRE) -- Enlight Renewable Energy ("Enlight") (NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, today announced it will release its financial results for the second quarter ended June 30, 2024, before market open on Wednesday, August 7, 2024. Enlight will host a conference call to review its financial results and business outlook on Wednesday, August 7, 2024. Management will deliver prepared remarks followed by a question-and-answer session ...

Core Viewpoint - Enlight Renewable Energy is set to release its financial results for Q2 2024 on August 7, 2024, before market opening, highlighting its ongoing growth in the renewable energy sector [5]. Group 1: Company Overview - Enlight was founded in 2008 and focuses on developing, financing, constructing, owning, and operating utility-scale renewable energy projects [3]. - The company operates in the three largest renewable segments: solar, wind, and energy storage, with a global presence in the United States, Israel, and nine European countries [3]. - Enlight has been publicly traded on the Tel Aviv Stock Exchange since 2010 and completed its US IPO on NASDAQ in 2023 [3]. Group 2: Financial Results Announcement - The financial results for the second quarter ended June 30, 2024, will be announced before the market opens on August 7, 2024 [5]. - A conference call will be held to review the financial results and business outlook, featuring prepared remarks from management followed by a Q&A session [4].

TEL AVIV, Israel, July 01, 2024 (GLOBE NEWSWIRE) -- Enlight Renewable Energy (("Enlight", "the Company", NASDAQ:ENLT, TASE: ENLT.TA)), a leading global renewable energy platform, today announced the release of its 2023 Sustainability report. The report provides an update on Enlight's environmental, social, and governance policies, initiatives, and performance. As an example, amongst the many aspects of the Company's activities featured in the report, Enlight contributed to the avoidance of 1.4 million tonne ...