Enlight Reaches Final Development Milestones for CO Bar, Its Largest Project to Date
Rhea-AI Summary
Enlight (NASDAQ: ENLT) reached final development milestones for the CO Bar Complex in Arizona, a 1.211 GW solar and 4.0 GWh storage project. The Complex has a 1 GW interconnection, 20-year energy storage tolling agreements, expected first-year electricity sales of USD 264–278 million, and total investment of USD 2,860–3,010 million (net of tax benefits USD 1,550–1,630 million).
Construction is mobilized for CO Bar 1–2; staged commercial operations are expected from H2 2027 to H1 2028.
Positive
- Total capacity of 1.211 GW solar and 4.0 GWh storage
- Secured 1 GW AC interconnection for the Complex
- Signed two 20-year busbar Energy Service Agreements
- Expected first-year revenue USD 264–278M
- Construction mobilized for CO Bar 1–2; staged COD H2 2027–H1 2028
Negative
- Expected Complex investment range USD 2,860–3,010M (material capex uncertainty)
- Staged commercial rollout across 2027–2028 extends timing risk
- Construction for CO Bar 3–5 not fully mobilized for up to 12 months
News Market Reaction
On the day this news was published, ENLT gained 6.08%, reflecting a notable positive market reaction. Argus tracked a peak move of +8.9% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $477M to the company's valuation, bringing the market cap to $8.32B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ENLT was down 4.01% while peers were mixed: RNW -0.18%, BEPC +3.81%, CWEN -0.06%, ORA -1.61%, and FLNC showed downside momentum at -4.06%. This pattern points to company-specific trading rather than a uniform renewable utilities move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 27 | Project acquisition | Positive | +3.7% | Agreed to acquire majority stake in German Jupiter solar‑storage project. |
| Jan 22 | Earnings date set | Neutral | +1.6% | Scheduled release and calls for Q4 and full‑year 2025 financial results. |
| Nov 14 | Conference participation | Neutral | -0.3% | Management participation in December 2025 investor conferences in New York. |
| Nov 12 | Earnings results | Positive | +8.3% | Reported strong 3Q25/9M25 results and raised full‑year 2025 guidance. |
| Nov 10 | Project financing | Positive | +4.4% | Announced $1.438b construction financing for Snowflake A in Arizona. |
Recent news on project financings, acquisitions, and strong earnings generally coincided with positive next-day moves, suggesting the stock has historically reacted constructively to growth and execution updates.
Over recent months, Enlight has reported several growth-focused milestones. On Nov 10, 2025, it announced $1.438 billion debt financing for the Snowflake A project in Arizona, followed by strong 3Q25 results on Nov 12 with $165m quarterly and $430m 9M25 revenue, plus raised 2025 guidance. Additional items included conference participation in November and an earnings date notice on Jan 22, 2026. On Jan 27, 2026, Enlight expanded its European storage footprint via the Jupiter project. Today’s CO Bar Complex milestone continues this theme of scaling large solar-plus-storage assets.
Market Pulse Summary
The stock moved +6.1% in the session following this news. A strong positive reaction aligns with Enlight’s pattern of favorable responses to large project and financing milestones, as seen after Snowflake A and prior earnings, where moves reached up to 8.33%. The CO Bar Complex adds 1.211 GW of solar and 4.0 GWh of storage with expected first-year revenue of $264–278 million. Investors evaluating sustainability of any surge may focus on execution timelines into 2027–2028 and capital deployment versus prior projects.
Key Terms
large generator interconnection agreement technical
busbar energy service agreements financial
AI-generated analysis. Not financial advice.
The CO Bar Complex, one of the largest projects in the United States, totals approximately 1.2 GW of solar generation and 4.0 GWh of energy storage
Expected to generate approximately USD 270 million from the sale of electricity in its first full year of operation
The CO Bar Complex finalized the 1GW Interconnection Agreement and signed 20 years tolling agreement for additional 3.2GWh energy storage capacity
TEL AVIV, Israel, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Enlight Renewable Energy (TASE: ENLT; NASDAQ: ENLT), a leading global renewable energy developer and an independent power producer, today announced it has reached major development milestones for the CO Bar Complex in Arizona, and is now advancing the project into full-scale execution.
Located in Arizona, the CO Bar Complex includes five stages, totaling 1.211 GW of solar power generation capacity and 4.0 GWh of energy storage capacity, placing it among the largest renewable energy projects in the United States. Across the five stages, CO Bar 1 includes 258 MW of solar generation and 824 MWh of energy storage. CO Bar 2 and CO Bar 3 add 480 MW and 473 MW of solar generation, respectively, while CO Bar 4 and CO Bar 5 are storage-only projects providing 1,600 MWh and 1,576 MWh of energy storage, respectively.
The expected total Complex investment is approximately USD 2,860 to 3,010 million, and the expected Complex investment net of tax benefits is approximately USD 1,550 to 1,630 million. The Complex is expected to generate approximately USD 264-278 million from electricity sales in its first full year of operation and to generate enough clean energy to power over 215,000 Arizona homes.
The CO Bar Complex has entered into a 1 GW AC Large Generator Interconnection Agreement. Additionally, the company also recently signed two 20-year busbar Energy Service Agreements with Salt River Project for the Energy Storage stages, CO Bar 4 and 5. With these agreements, Enlight has secured offtake agreements for the entire CO Bar Complex.
The completion of the development of the CO Bar project marks a significant milestone for Enlight’s operations in the United States and comes just months after the financial closing of Snowflake, another large-scale project that combines 600 MW of solar generation and 1,900 MWh of energy storage. These and other major achievements further establish Enlight as a leading player in the U.S. market, with a mature project portfolio totalling approximately 6,500 FMW that have matured over the past year. The CO Bar Complex reflects Enlight’s connect-and-expand strategy in practice, leveraging a large interconnection to develop multiple components and accelerate the transition from late-stage development to construction, resulting in lower and shorter development risks, and enhancement of return on investments.
All five stages were safe harbored in 2025. Construction at CO Bar 1-2 has mobilized to the next phase, with crews engaging in civil work on those sites. Construction at CO Bar 3-5 is expected to be fully mobilized in the next 12 months. Initial commercial operation is expected to roll out in stages from the second half of 2027 through the first half of 2028.
Adi Leviatan, CEO of Enlight: “CO Bar represents a major step forward for Enlight’s U.S. platform. Reaching full interconnection and completing the commercial framework for such a large-scale, integrated solar and storage complex demonstrates our ability to execute at scale, deepen partnerships with leading utilities, and deliver long-term value from high-quality renewable assets. As demand for reliable, clean power continues to accelerate, CO Bar and our expanding U.S. portfolio firmly position Enlight for sustained growth in the U.S. market.”
Jared McKee, CEO of Clēnera “We are excited to have reached these milestones on the CO Bar project. The CO Bar project is a special project and signifies Clēnera’s ability to build large utility scale solar facilities that not only generate and store reliable clean energy but support regenerative land management principles.”
About Enlight Renewable Energy:
Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind, and energy storage. As a global platform, Enlight operates in the United States, Israel and 11 European countries. Enlight is traded on the Tel Aviv Stock Exchange (TASE: ENLT) and on Nasdaq (Nasdaq: ENLT). Learn more at www.enlightenergy.co.il.
Enlight Investor Contacts
Limor Zohar Megen
Director IR
investors@enlightenergy.co.il
Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
+1 617 542 6180
investors@enlightenergy.co.il
FAQ
What is the total capacity and configuration of Enlight's CO Bar Complex (ENLT)?
How much revenue is CO Bar expected to generate in its first full year (ENLT)?
What offtake and interconnection agreements does ENLT have for CO Bar?
When will CO Bar reach commercial operation and how is construction progressing for ENLT?
What is the expected investment size and net cost after tax benefits for CO Bar (ENLT)?
How many homes could CO Bar power and how does it fit Enlight's U.S. strategy (ENLT)?
