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]

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, enhancing its growth strategy in the U.S. renewable energy market [1][2][6] Financial Commitments - The partnership with J.P. Morgan involves a tax equity contribution for the 290 MW solar component, while M&T Bank and First Citizens Bank provide financing for the 940 MWh storage component, totaling approximately $340 million in commitments at COD, expected to rise to nearly $390 million with additional pay-go contributions [2][3] Project Overview - The Roadrunner project represents a total investment of $621 million, with the solar component having begun test energy production and full commercial operation anticipated by the end of 2025. It is projected to generate over $50 million in annual revenues and approximately $40 million in EBITDA in its first full operating year [3][4] Tax Incentives - The solar component is expected to benefit from Production Tax Credits (PTC), while the storage component will receive Investment Tax Credits (ITC). The project is also expected to qualify for a 10% Energy Community Adder, enhancing the financial viability of the partnerships [4][6] Revenue Stability - All of Enlight's U.S. projects are supported by BUSBAR power purchase agreements (PPAs) with investment-grade offtakers, including a 20-year PPA with the Arizona Electric Power Cooperative for the Roadrunner project, ensuring stable long-term revenues [5][6] Strategic Positioning - Co-located solar and energy storage projects are central to Enlight's strategy, providing reliable clean electricity and flexibility to the grid. The Roadrunner project is positioned as a flagship utility-scale project, contributing to Enlight's leadership in large-scale clean energy deployment in the U.S. [6][7]