Enlight Secures $2.6 Billion Debt Financing for CO Bar Complex, Its Largest Project to Date
Summary
Enlight Renewable Energy has reached financial close for its CO Bar Complex, securing approximately $2.6 billion in debt financing. This project, totaling 1.2 GW of solar power and 4.0 GWh of energy storage, represents the company's largest to date with a total investment of nearly $3 billion. This significant financing follows a series of positive developments for Enlight, including strong financial results, credit rating upgrades, and a recent 15-year PPA with Google. The CO Bar Complex is expected to generate $250-260 million in revenues and $205-210 million in EBITDA in its first full year of operation. Commercial operation is anticipated in phases from the second half of 2027 through the first half of 2028.
At the time of this announcement, ENLT was trading at $90.90 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $12.7B. The 52-week trading range was $22.58 to $108.65. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.