Enlight Secures 15-Year, 200 MW Solar PPA with Google for Oklahoma Data Centers
ENLT has more than doubled off its 52-week low of $16.87.
Summary
Enlight Renewable Energy signed a 15-year physical power purchase agreement (PPA) with Google for 200 MWac of solar energy from its Solstice project in Oklahoma. This agreement expands Enlight's U.S. business beyond utilities to large commercial customers like Google and marks its entry into the growing Southwest Power Pool market. The fixed-price, long-term contract provides stable revenue and validates Enlight's strategy to target the fast-growing data center sector. This follows a series of recent financing activities and an ambitious growth roadmap presented by Enlight. Construction is expected to begin in 2028, with commercial operations targeted for 2029. The project is expected to receive full interconnection approval later this year.
At the time of this announcement, ENLT was trading at $98.57 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $12.9B. The 52-week trading range was $16.87 to $96.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.