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]