Core Points - Enlight Renewable Energy will release its financial results for Q3 2025 on November 12, 2025, before market open [1] - The earnings release and additional investor materials will be available on the company's website [2] - CEO Adi Leviathan will discuss the financial results and business outlook during a conference call [2] Financial Results Release - The financial results will be accessible on the company's website prior to the conference call [2] - A live conference call in English is scheduled for 8:00 AM Eastern Time / 3:00 PM Israel Time [3] - A Hebrew webcast will be held at 6:00 AM Eastern Time / 1:00 PM Israel Time [4] Company Overview - Enlight was founded in 2008 and focuses on developing, financing, constructing, owning, and operating utility-scale renewable energy projects [4] - The company operates in solar, wind, and energy storage sectors across the U.S., Israel, and 10 European countries [4] - Enlight has been publicly traded on the Tel Aviv Stock Exchange since 2010 and completed its U.S. IPO in 2023 [4]

Core Insights - Hero Future Energies (HFE) has secured funding of ₹190.80 crore from State Bank of India and Canara Bank for its renewable energy hybrid project [1][2] - The funding will support the development of a 120 MW hybrid project in Kurnool, Andhra Pradesh, which integrates wind, solar, and storage technologies [1][2] - The project has a repayment period of 21 years, indicating strong confidence from lenders in HFE's capabilities [2][4] Funding Details - The funding is provided through HFE's special purpose vehicle (SPV), Clean Renewable Energy Hybrid Three [1] - Last month, HFE also secured ₹102.40 crore from State Bank of India for a 60 MW Hybrid Peak Power Project, also located in Kurnool [3] - Both projects reflect the lending community's confidence in HFE's expertise in developing complex hybrid renewable projects [2][4] Project Specifications - The 120 MW project is contracted with SJVN and aims to deliver reliable peak power [2] - The 60 MW project combines solar, wind, and storage technologies and is contracted with SECI [3] - Timely project execution and commencement of commercial operations are emphasized as key outcomes of the funding [2][4]

Financial Performance & Guidance - Second Quarter 2025 saw a 53% increase in revenues and income compared to 2Q24[10, 16] - Adjusted EBITDA increased by 57% in 2Q25 compared to 2Q24[10, 16] - The company is raising its 2025 guidance for total revenues and income to a range of $520-535 million, a 55% increase from the original forecast[10, 18] - Adjusted EBITDA guidance for 2025 is raised to $385-400 million, a 6% increase from the original forecast[10, 18] - The company expects to reach an annual revenue and income run rate of approximately $14 billion by the end of 2027[10] Portfolio & Growth - The company has 48 FGW of projects under construction in 2025, of which 29 GW have already begun construction[10] - The total portfolio is 353 FGW, including 31 FGW operational, 29 FGW under construction, 32 FGW pre-construction, 6 FGW advanced development, and 201 FGW in development[29] - The mature portfolio (operational, under construction, and pre-construction) is expected to generate ~$15 billion of revenues & income[39] - The company plans for 37 FGW of expansions at existing EU+MENA projects (11 GW + 69 GWh) and USA projects (03 GW + 13 GWh) for construction in 2025-27[61, 62] Strategic Initiatives - Gilad Yavetz, Enlight's founder and CEO, will be appointed to the position of full-time Executive Chairman of the Board, and Adi Leviatan will be appointed as CEO[26] - The company secured $310 million in financing to add solar and energy storage to Spain's Gecama wind farm, expected to generate $100 million in annual revenue[40]

Core Insights - Enlight Renewable Energy is undergoing a leadership transition, with Gilad Yavetz becoming Executive Chairman and Adi Leviatan appointed as the new CEO, marking a significant step in the company's growth strategy [1][2][6] Leadership Changes - Gilad Yavetz, co-founder and current CEO, will transition to Executive Chairman, maintaining close collaboration with the new CEO and the board to drive the company's growth [2][3] - Adi Leviatan brings over 20 years of executive experience from global corporations, including a recent role at 3M, where she managed a division with approximately 700 employees and annual revenues of $1.5 billion [2][6] - Yair Seroussi, who served as Chairman for seven years, will take on the role of Vice Chairman, continuing to support the executive management with his expertise in strategy and finance [4] Strategic Positioning - The leadership transition is set to take effect on October 1, 2025, as Enlight is positioned for significant growth, supported by a robust organizational and operational infrastructure [5] - The company has made strategic moves to enhance its leadership platform, including appointing General Managers to key business units and developing a top-performing energy management platform [5][6] Company Vision - Gilad Yavetz expressed confidence in Adi Leviatan's leadership capabilities, emphasizing her strategic experience and the importance of maintaining Enlight's core values during this transition [7][8] - Adi Leviatan highlighted her commitment to the company's vision and values, aiming to further establish Enlight as a leading player in the renewable energy sector [9] Company Background - Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects across solar, wind, and energy storage segments [11] - The company operates in the United States, Israel, and 10 European countries, and has been publicly traded since 2010, completing its U.S. IPO in 2023 [11]

Financial Performance - The company reported total revenues and income of $130 million for Q1 2025, a 39% increase from $94 million in Q1 2024 [5][27] - Net income surged to $102 million, reflecting a 316% increase compared to $24 million in the same period last year [5][33] - Adjusted EBITDA rose by 84% to $132 million, up from $72 million in Q1 2024 [5][34] - Cash flow from operating activities increased by 24% to $44 million, compared to $35 million in Q1 2024 [5] Revenue Breakdown - Revenues from electricity sales increased by 21% to $110 million, up from $90 million in Q1 2024 [27][30] - The company recognized $20 million in income from tax benefits, a 516% increase from $3 million in Q1 2024 [27] - Revenue contributions from new projects connected to the grid included $30 million from various projects, with significant contributions from Atrisco, Israel Solar and Storage Cluster, and others [28][30] Project Developments - The company sold 44% of the Sunlight cluster for $52 million, generating an additional $42 million in Adjusted EBITDA and $80 million in net profit for Q1 2025 [6][29] - The total portfolio consists of 33.4 FGW, with 8.6 FGW in the mature portfolio expected to generate annualized revenues of approximately $1.4 billion by 2027 [11][19] - The company has secured $1.8 billion in financing to support the construction of 4.7 FGW of capacity in 2025 [9] Geographic Revenue Distribution - Revenue distribution for Q1 2025 included $42.9 million from MENA, $51.4 million from Europe, and $34.8 million from the U.S., with the U.S. segment showing a 674% increase year-over-year [25][32] - Approximately 81% of operational capacity sells electricity under Power Purchase Agreements (PPAs), with 29% of power sold under inflation-linked PPAs [16] Operational Strategy - The company has effectively mitigated exposure to U.S. import tariffs through diversified procurement strategies, ensuring that projects under construction have no solar panel exposure under current tariff policies [3][8] - The operational portfolio is geographically diversified, with 44% of capacity in Europe, 29% in Israel, and 27% in the U.S. [16] Future Guidance - Total revenues and income for 2025 are projected to range between $490 million and $510 million, with Adjusted EBITDA expected between $360 million and $380 million [29][30] - Approximately 90% of electricity volumes expected to be generated in 2025 will be sold at fixed prices through PPAs or hedges [30]

Core Insights - Enlight Renewable Energy Ltd. has achieved financial close for the Quail Ranch project, securing $243 million in construction loans, with commercial operation date (COD) expected towards the end of 2025 [1][5][6] - The Quail Ranch project combines 128 MW of solar generation with 400 MWh of battery storage capacity, supported by a 20-year power purchase agreement (PPA) with the Public Service Company of New Mexico [2][4] - The project is part of a larger initiative that includes two other projects, Roadrunner and Country Acres, which together have secured a total of $1.5 billion in financing and are projected to generate annual revenues of $135-140 million and EBITDA of $100-110 million [4][6] Project Details - Quail Ranch is an expansion of the Atrisco project, which began commercial operations in 2024, utilizing shared infrastructure to reduce costs [3][4] - The project is located at an elevation of 1,800 meters in a desert plateau, providing optimal conditions for solar generation [3] - Upon COD, the construction loan is expected to convert into a $120 million term loan, and the project is anticipated to qualify for the Energy Community Tax Credit Bonus [5][6] Financial and Operational Outlook - The financial close for Quail Ranch is part of Enlight's strategy to advance multiple projects in the U.S., with a total capacity of 1.4 FGW across three projects [4][6] - The company aims to generate combined annual revenues of approximately $200 million in the U.S. once all projects are operational [6] - Enlight is also developing two additional megaprojects in the western U.S. with a combined capacity of 2.6 FGW, expected to begin construction soon [7]