Enlight Renewable Energy Ltd. Ordinary Shares - ENLT STOCK NEWS

Enlight Renewable Energy announces initial commercial operations at the Pupin wind farm in Serbia, featuring 94 MW capacity. The project, costing $155-160 million, utilizes 16 Nordex wind turbines and is expected to reach full operations in Q1 2025, six months ahead of schedule.

The facility will sell 72% of its electricity to state-owned Elektroprivreda Srbije for 15 years at €70.88/MWh (indexed). Expected to power 40,000 Serbian households, Pupin is Enlight's second Serbian project, built adjacent to their 105 MW Blacksmith wind farm. The project is projected to generate $22-23 million in revenues and $16-17 million in EBITDA in its first full year.

Enlight Renewable Energy (NASDAQ: ENLT) reported strong Q3 2024 financial results with significant revenue growth. Revenue reached $109 million in Q3, up 88% year-over-year, while nine-month revenue hit $285 million, a 56% increase. Q3 Adjusted EBITDA grew 86% to $88 million, and operating cash flow surged 115% to $66 million. However, net income declined 7% to $24 million in Q3 and 29% to $58 million for the nine-month period. The company raised its full-year 2024 guidance, now expecting revenues of $355-370 million and adjusted EBITDA of $255-270 million, representing a $10 million increase from previous estimates.

Enlight Renewable Energy (NASDAQ: ENLT) has announced an upcoming Investor Event scheduled for Tuesday, November 19, 2024, at the Tel Aviv Stock Exchange. The event will run from 9:15 AM to 11:00 AM Israel Time. Co-founder and CEO Gilad Yavetz, along with other executive leaders, will present the company's performance, projects, strategy, and growth plans across business segments.

The event will include prepared remarks followed by a Q&A session. Interested parties can attend in person by registering via email or join virtually through a live webcast. Presentation materials and event replay will be available on Enlight's IR website afterward.

Enlight Renewable Energy (NASDAQ: ENLT) announces that its U.S. subsidiary Clenera has signed a 20-year power purchase agreement with Arizona Public Service for the Snowflake A Project. The project includes 600 MW of solar generation and 1900 MWh of energy storage capacity. Located near Holbrook, Arizona, the project is expected to reach ready-to-build status in Q3 2025 and begin commercial operation in mid-2027. This represents the first phase of the Snowflake complex, with a second phase planned for an additional 650 MW solar capacity and 2100 MWh storage. The project is currently in final pre-construction permitting stages.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA) has scheduled its third quarter 2024 financial results release for Wednesday, November 13, 2024, before market open. The company will host a conference call at 8:00 AM ET on the same day, featuring management presentations and a Q&A session. Participants can join via conference call through pre-registration or through webcast. Financial results and investor presentation materials will be available on the company's website before the call, with a recorded version accessible approximately one hour after the live session.

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.