Enlight Renewable Energy Ltd. Ordinary Shares - ENLT STOCK NEWS

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA) has completed the commercial operation of its Solar and Storage Cluster in Israel. The Cluster consists of 12 installations with a combined solar generation capacity of 254 MW and energy storage capacity of 594 MWh. It produces over 50% of the clean electricity in Israel's newly deregulated power market.

The Cluster's output will be sold through Enlight's supplier division, including corporate PPAs with large industrial clients and sales to households and small businesses. It's expected to generate revenue of $34-36 million and EBITDA of $24-26 million in the first full operating year. The installations, built in cooperation with agricultural communities, enhance energy and economic security in these regions.

Enlight Renewable Energy (NASDAQ: ENLT) has announced the initial start of commercial operations at its Atrisco Solar & Energy Storage project near Albuquerque, New Mexico. The project consists of 364 MW solar generation capacity and 1.2 GWh of energy storage capacity. Key highlights include:

- Power purchase agreement: 20-year contract with Public Service Company of New Mexico
- Clean energy production: Equivalent to annual consumption of 110,000 New Mexico households
- Total project cost: $827 million ($407 million net of tax equity)
- Expected first full year revenues: $51-55 million
- Expected first full year EBITDA: $41-45 million
- Financing: $290 million in debt, $420 million from tax equity partners

The project is Enlight's largest in terms of capacity and capital expenditure, marking a significant milestone in the company's renewable energy portfolio.

Enlight Renewable Energy (NASDAQ: ENLT) has announced the commencement of commercial operations at its Tapolca solar project in Hungary. The project, with a 60 MW production capacity, began selling electricity on July 31, 2024, ahead of schedule. This marks Enlight's fifth project in Hungary, bringing its total generating capacity in the country to 144 MW.

Key details:

• Total construction cost: $48 million
• Expected first-year revenues: $6 million
• Projected EBITDA: $5 million
• Enlight's equity investment: $21 million

The project will sell electricity at merchant prices and is expected to provide green power equivalent to the annual consumption of 30,000 Hungarian households. Financing was provided by Raiffeisen Bank, with financial close occurring in March 2024.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT) reported strong financial results for Q2 2024. Revenue for the first half of 2024 increased 42% year-over-year to $175 million, while Adjusted EBITDA rose 33% to $126 million. However, net income decreased 39% to $34 million. For Q2 2024, revenue surged 61% to $85 million, and Adjusted EBITDA grew 39% to $58 million, but net income fell 58% to $9 million.

Based on these results, Enlight has raised its full-year 2024 guidance. The company now expects revenues of $345-$360 million (up from $335-$360 million) and Adjusted EBITDA of $245-$260 million (up from $235-$255 million). This increase reflects Enlight's confidence in positive trends and strong growth across its business segments.

Enlight Renewable Energy (NASDAQ: ENLT) has announced the financial close for the Energy Storage portion of its Atrisco Solar and Energy Storage project in New Mexico, USA. The project combines 364 MW of solar capacity with 1.2 GWh of battery storage, costing $827 million. Financing includes $290 million in term debt and $420 million in tax equity, with Enlight's equity investment at $117 million. The Energy Storage financing involves a $401 million loan agreement led by HSBC, converting to a $185 million term loan and $222 million in tax equity upon project completion. Enlight expects to recycle $234 million of equity back to its balance sheet for future growth. The project is set for full Commercial Operation Date (COD) later this year, marking a significant step in Enlight's U.S. expansion strategy.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, has announced it will release its financial results for the second quarter ended June 30, 2024, before market open on Wednesday, August 7, 2024. The company will host a conference call and webcast on the same day to review its financial results and business outlook.

Participants can join the conference call by pre-registering or attend via webcast. The press release with financial results and investor presentation materials will be available on the company's website prior to the call. An archived version of the webcast will be accessible on Enlight's investor relations website approximately one hour after the live call concludes.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA) has released its 2023 Sustainability Report, detailing the company's progress in environmental, social, and governance (ESG) initiatives. The report highlights Enlight's significant contributions, such as preventing 1.4 million tonnes of CO2 equivalent emissions over the past year. The company emphasizes its commitment to advancing renewable energy through wind, solar, and energy storage projects, aiding global efforts to reach Net Zero goals. Enlight remains dedicated to delivering clean, reliable, and cost-effective energy, while ensuring shareholder value and growth.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT), a global renewable energy platform, announced its participation in two upcoming investor conferences. The company will be present at the JP Morgan Energy, Power and Renewables Conference in New York City on June 17, 2024, and at the Roth MKM London Conference on June 26, 2024. During these events, Enlight's management will engage in one-on-one and small group meetings with institutional investors. Interested parties are encouraged to contact their JP Morgan or Roth MKM sales representatives for more information or to schedule meetings.

Enlight Renewable Energy reported financial results for Q1 2024, with revenue of $90m (up 27% YoY), adjusted EBITDA of $68m (up 28% YoY), net income of $24m (down 26% YoY), and cash flow from operations of $35m (down 36% YoY). The company reaffirmed its full-year 2024 guidance.

Key developments include high generation volumes at wind projects, progress on U.S. projects, financial close for European projects, and strong operational performance. CEO Gilad Yavetz highlighted the robust start to 2024 and positive outlook for the year.

Revenue distribution by segment showed growth in Israel, Central-Eastern Europe, and Western Europe. Net income decreased due to one-off benefits in the previous year, while adjusted EBITDA saw a 28% increase driven by revenue growth.