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Enlight Secures Financing for Spain's Largest Hybrid Renewable Energy Project
GlobeNewswire News Room· 2025-06-03 11:45
Core Viewpoint - Enlight Renewable Energy has secured approximately $310 million in financing for the Hybridisation of the Gecama Project in Spain, which will integrate solar and energy storage systems at the country's largest wind farm [1][6][11] Financing Details - The financing consists of two tranches: one for refinancing the Gecama Wind Project and another for the construction of the Hybrid Project, both with a fixed interest rate of approximately 5.1% [6][9] - Over $150 million of the secured debt will be allocated to the construction of the Hybrid Project, which has an estimated total cost of $195–205 million [7][8] Project Overview - The Gecama Hybrid Project will have a total capacity of 554 MW and 220 MWh, providing clean electricity continuously at a competitive generation cost [2][11] - Once operational, the project is expected to generate annual revenues of $95–105 million and EBITDA of $75–80 million [5][11] Strategic Importance - The project aims to enhance Spain's energy storage infrastructure, addressing the pressing need for such systems following recent blackouts [3][11] - Enlight is among the first to deploy utility-scale battery storage at this scale in Spain, which will support peak shifting and provide essential grid services [4][11] Operational Timeline - The solar and storage components are expected to reach commercial operation in the second half of 2026, with anticipated annual revenue increases of $38–40 million and EBITDA of $31–33 million in the first full year [5][11] Market Context - The financing is structured on a merchant basis, allowing the company to sell the project's electricity output on the open market without a long-term Power Purchase Agreement, reflecting confidence in Enlight's management and the economic potential of the Gecama site [9][10]
Enlight to Report First Quarter 2025 Financial Results on Tuesday, May 6, 2025
Newsfilter· 2025-04-17 14:30
Core Viewpoint - Enlight Renewable Energy is set to release its financial results for Q1 2025 on May 6, 2025, before market opening [1] Financial Results Announcement - The financial results will be available before market open on May 6, 2025 [1] - A conference call to discuss the results and business outlook will take place at 8:00 AM ET on the same day [2] Conference Call Details - Participants can join the conference call by pre-registering through a provided link [2] - An archived version of the webcast will be available approximately one hour after the live call [3] 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 solar, wind, and energy storage sectors across the U.S., Israel, and 10 European countries [3] - Enlight has been listed on the Tel Aviv Stock Exchange since 2010 and completed its U.S. IPO in 2023 [3]
Montauk Renewables Schedules Full Year 2024 Conference Call for Thursday, March 13, 2025, at 8:30 a.m. ET
Newsfilter· 2025-03-03 12:00
Core Points - Montauk Renewables, Inc. will host a conference call and webcast on March 13, 2025, at 8:30 a.m. ET to discuss its financial results for the full year ended December 31, 2024 [1] - A press release reporting the financial results will be issued after the close of regular stock market trading hours on the day prior to the conference call [1] - The conference call will include a live Q&A session and will be available for replay after 11:30 a.m. ET on the same day through March 13, 2026 [3] Company Overview - Montauk Renewables, Inc. specializes in the management, recovery, and conversion of biogas into renewable natural gas (RNG) [4] - The company captures methane to prevent its release into the atmosphere and converts it into RNG or electrical power for the grid [4] - Headquartered in Pittsburgh, Pennsylvania, Montauk has over 30 years of experience in developing and managing landfill methane-fueled renewable energy projects [4] - The company operates 13 projects and has ongoing developments in multiple states including California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas [4] - Montauk sells RNG and Renewable Electricity, benefiting from Environmental Attribute premiums under federal and state policies [4]