Enlight Strengthens US Presence With New Financing Deals For Clean Energy Projects

Core Insights - Enlight Renewable Energy's U.S. subsidiary, Clēnera Holdings, has secured two tax equity partnerships for the Roadrunner Solar and Energy Storage Project in Arizona, with financing from J.P. Morgan Chase Bank, M&T Bank, and First Citizens Bank [1][2][4] Financial Commitments - The total commitments for the project amount to $340 million at commercial operation, expected to rise to nearly $390 million with additional contributions [2] Project Overview - The $621 million Roadrunner project is set to produce test energy and aims for full operation by the end of 2025, projected to generate over $50 million in annual revenue and approximately $40 million in EBITDA [3][4] Tax Incentives and Agreements - The solar unit qualifies for Production Tax Credits, while the storage system will benefit from Investment Tax Credits, and the project is expected to qualify for a 10% Energy Community Adder [4] Strategic Importance - Roadrunner is backed by a 20-year power purchase agreement with Arizona Electric Power Cooperative, and its co-located design enhances grid reliability and flexibility, aligning with the company's U.S. growth strategy [4][5] Industry Impact - M&T Bank's Managing Director highlighted Roadrunner as a significant development for co-located solar and storage in the U.S., emphasizing its role in strengthening grid resilience [5] Global Expansion Strategy - Enlight is accelerating its global growth, recently winning a major tender for a green data center in Israel with an investment plan of up to $1.1 billion, showcasing its strategy of integrating renewable energy with infrastructure projects [6] Future Outlook - The incoming Clēnera CEO noted the rising demand for clean energy in the U.S. and the company's capability to deliver large-scale solutions, with plans to expand its portfolio supported by long-term agreements with investment-grade customers [7]