Enlight Renewable Energy Ltd. Ordinary Shares

Enlight Renewable Energy reported record financial results for the second quarter of 2026, with total revenues and income rising 55% year-over-year to $210 million and adjusted EBITDA growing 67% to $160 million. Net income reached $31 million, up from $6 million in the prior-year period, while operating cash flow increased 34% to $84 million, with a run rate of approximately $100 million per quarter excluding working capital fluctuations. The company raised its full-year 2026 revenue guidance to a range of $790 million to $820 million and adjusted EBITDA guidance to $565 million to $585 million. Enlight also completed a $2.6 billion financing for the CO Bar Complex and signed its first US commercial off-take agreement, a power purchase agreement with Google for the Solstice project in Oklahoma. The total portfolio grew 4.6% sequentially to 43.1 factored gigawatts, with the mature component increasing 6% to 12.3 factored gigawatts.

Enlight Renewable Energy has reached financial close on its CO Bar Complex in Arizona, securing approximately $2.6 billion in debt financing from a consortium of seven global banks. The CO Bar Complex, Enlight's largest project to date, comprises five projects totaling about 1.2 gigawatts of solar generation and 4.0 gigawatt-hours of energy storage, with total investment estimated between $2.9 billion and $3.045 billion. The financing package includes $1.705 billion in term debt and expected tax equity proceeds of $1.45 billion to $1.525 billion, leaving a net investment of $1.45 billion to $1.52 billion. In its first full year of operation, the complex is expected to generate $250 million to $260 million in revenues and $205 million to $210 million in EBITDA. Commercial operation is anticipated in phases from the second half of 2027 through the first half of 2028, with all five projects fully subscribed under long-term offtake agreements with Salt River Project and Arizona Public Service.