Welcome to our dedicated page for Enlight Renewable Energy Ltd. Ordinary Shares news (Ticker: ENLT), a resource for investors and traders seeking the latest updates and insights on Enlight Renewable Energy Ltd. Ordinary Shares stock.
Enlight Renewable Energy Ltd. (ENLT) is a prominent global player in the renewable energy sector, focusing on the development, financing, construction, ownership, and operation of utility-scale renewable energy projects. Established in 2008, the company has a diversified portfolio spanning the three largest renewable segments: solar, wind, and energy storage. Enlight operates in the United States, Israel, and nine European countries, providing clean energy solutions to millions of people.
Recently, Enlight announced a significant project under its subsidiary Clenera Holdings LLC, named Country Acres Clean Power LLC. This project, located in Placer County, California, includes a power purchase agreement with the Sacramento Municipal Utility District (SMUD) and is set to deliver 392 MWdc/344 MWac of solar energy and 688 MWh of energy storage. The project aims to provide zero-carbon electricity to approximately 80,000 homes annually and features an agrivoltaic pilot program to benefit surrounding agricultural activities.
Additionally, Enlight is involved in the construction of a new wind farm in Serbia through a financing package worth $101 million approved by the European Bank for Reconstruction and Development (EBRD) and Erste Group Bank AG. This wind farm, named after the Serbian scientist Mihajlo Pupin, will have a capacity of 94 MW and is expected to supply clean electricity to over 40,000 households once operational in the second half of 2025.
Enlight's recent achievements also include Clenera's leadership transition, set to take place in mid-2024, where Adam Pishl will assume the role of CEO, ensuring continued growth and stability in the company's U.S. operations. Enlight's strong market presence is backed by its strategic collaborations, robust financial condition, and a vision to expand its high-quality pipeline of renewable projects globally.
For more details, visit Enlight Renewable Energy Ltd.
Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) reported Q3 2023 financial results, including a 3% increase in revenue to $58m, net income up 35% to $26m, and Adjusted EBITDA up 32% to $47m. The company also finalized project finance for over $500m and divested non-core projects for $19m. Business developments include achieving the 2023 project plan and expanding the Mature Project portfolio by 530 MW and 1.3 GWh. The company's CEO highlighted the continued growth in profitability, robust project returns, and deep access to capital, despite the higher interest rate environment. The portfolio now includes a total of 1.8 GW of generation, with plans to reach 4.6 GW and 3.6 GWh of operational projects extending into 2026 CODs. The company also highlighted the impact of hostilities in Israel on its activities, emphasizing minimal disruption and continued focus on operations.
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