Enlight Secures $304 Million in Project Financing for the Crimson Orchard Project in Idaho, USA

Rhea-AI Summary

Enlight (TASE/NASDAQ: ENLT) secured $304 million in construction and term debt for the Crimson Orchard solar+storage project in Elmore County, Idaho. Crimson Orchard is 120 MW solar and 400 MWh storage, expected commercial operation in H1 2027.

The project cost is estimated at $326–342 million with tax equity of $160–170 million, first-year revenue of $27–28 million and EBITDA of $20–21 million. The project has 20-year contracts with Idaho Power and safe harbor status in 2025. Lenders include HSBC, ING, KeyBanc and MUFG.

Positive

• Secured $304M construction and term debt
• Project capacity: 120 MW solar + 400 MWh storage
• First-year expected $27–28M revenue and $20–21M EBITDA
• Backed by 20-year solar PPA and storage tolling agreement
• Adds to $3B of project financing secured in past 12 months

Negative

• Total project cost range of $326–342M indicates funding variability
• Estimated tax equity of $160–170M implies reliance on tax-equity markets
• Commercial operation target H1 2027 creates schedule exposure

Market Reaction – ENLT

+6.41% $74.68

15m delay 25 alerts

+6.41% Since News

$74.68 Last Price

$73.29 $75.65 Day Range

+$595M Valuation Impact

$9.88B Market Cap

0.5x Rel. Volume

Following this news, ENLT has gained 6.41%, reflecting a notable positive market reaction. Our momentum scanner has triggered 25 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $74.68. This price movement has added approximately $595M to the company's valuation.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.

Key Figures

Project financing: $304 million Solar capacity: 120 MW Storage capacity: 400 MWh +5 more

8 metrics

Project financing $304 million Crimson Orchard construction financing and term debt commitments

Solar capacity 120 MW Crimson Orchard solar power generation capacity

Storage capacity 400 MWh Crimson Orchard energy storage capacity

Total investment $326–342 million Total Crimson Orchard project investment

Tax equity proceeds $160–170 million Estimated tax equity proceeds for Crimson Orchard

Net investment $162–172 million Total project investment net of tax equity

First-year revenue $27–28 million Expected first full year revenue from Crimson Orchard

First-year EBITDA $20–21 million Expected first full year EBITDA from Crimson Orchard

Market Reality Check

Price: $70.18 Vol: Volume 92,455 is below 20...

low vol

$70.18 Last Close

Volume Volume 92,455 is below 20-day average of 216,700 (relative volume 0.43) ahead of this news. low

Technical Shares at 70.18 were trading above the 200-day MA of 38.01, reflecting a pre-existing longer-term uptrend.

Peers on Argus

ENLT was up 1.81%, while key renewable peers RNW (-0.57%), BEPC (-4.8%), CWEN (-...

1 Up

ENLT was up 1.81%, while key renewable peers RNW (-0.57%), BEPC (-4.8%), CWEN (-0.68%), ORA (-0.7%) and FLNC (-2.27%) were down. Momentum scanner flagged only NRGV at +2.42%, reinforcing that ENLT’s move appeared stock-specific.

Historical Context

5 past events · Latest: Feb 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Earnings results	Positive	+16.0%	Strong 4Q25 and FY25 results with robust 2026 revenue and EBITDA guidance.
Feb 12	Investor event announcement	Neutral	+0.6%	Announcement of virtual investor event detailing execution and growth engines.
Feb 02	US project milestone	Positive	+6.1%	Final development milestones for CO Bar solar-plus-storage complex in Arizona.
Feb 02	European storage expansion	Positive	+6.1%	Agreement to acquire majority stake in Project Jupiter in Germany with sizable storage.
Jan 27	European storage expansion	Positive	+3.7%	Further details on Project Jupiter investment and projected revenues and EBITDA.

Pattern Detected

ENLT has typically reacted positively to growth and project milestones, with prior earnings and large project announcements followed by notable share price gains.

Recent Company History

Over recent months, ENLT has reported strong growth, with 4Q25 and full‑year 2025 earnings driving a 16.04% gain after results on Feb 17, 2026. Large-scale project updates, including the CO Bar Complex in Arizona and Project Jupiter in Germany, saw positive reactions between 3.67% and 6.08%. An investor event announcement in February had a modest positive impact. The Crimson Orchard financing fits this pattern of expanding ENLT’s contracted, utility‑scale solar‑plus‑storage portfolio.

Market Pulse Summary

The stock is up +6.4% following this news. A strong positive reaction aligns with ENLT’s history of ...

Analysis

The stock is up +6.4% following this news. A strong positive reaction aligns with ENLT’s history of gains following large project and financing milestones, such as prior moves of 6.08% and 16.04%. The Crimson Orchard financing adds contracted, long-duration revenue of $27–28 million and EBITDA of $20–21 million in its first full year. Investors would still need to consider execution risk and capital allocation across ENLT’s broader growth pipeline.

Key Terms

tax equity, power purchase agreement

2 terms

tax equity financial

"with estimated tax equity proceeds of $160-170 million and total project"

Tax equity is a financial arrangement where an investor provides money to a project—often renewable energy or other tax-advantaged ventures—in exchange for the project’s tax benefits and some share of cash flow. Think of it like joining a friend to buy a house so you can use their mortgage tax break; investors care because these deals reduce tax bills and can improve overall returns while changing the project’s risk and cash timing profile.

power purchase agreement financial

"backed by a 20-year busbar solar power purchase agreement and a 20-year"

A power purchase agreement (PPA) is a long-term contract in which a buyer agrees to purchase electricity from a generator at an agreed price and schedule, similar to a multi-year subscription for power or a long-term lease of an energy source. Investors care because PPAs provide predictable revenue and cash flow for the generator, reduce market-price exposure, and shift credit and performance risk to the buyer, all of which affect valuation, financing and perceived investment stability.

AI-generated analysis. Not financial advice.

120 MW solar and 400 MWh energy storage project in Elmore County, Idaho, currently under construction, commercial operation expected during the first half of 2027

Expected to contribute approximately $27-28 million in revenue and $20-21 million in EBITDA in its first full year of operation

This brings Enlight’s total project financing to $3 Billion in the past 12 months

TEL AVIV, Israel, March 16, 2026 (GLOBE NEWSWIRE) -- Enlight Renewable Energy (TASE: ENLT; NASDAQ: ENLT), a global renewable energy developer and IPP, announced today that its U.S. subsidiary, Clēnera, has secured $304 million in construction financing and term debt commitments for the Crimson Orchard project in Elmore County, Idaho. The financing commitments were provided by a group of leading global lenders: HSBC, ING Capital LLC, KeyBanc Capital Markets, and MUFG Bank, Ltd.

Crimson Orchard is a co-located solar and energy storage project totaling 120 MW of solar power generation capacity and 400 MWh of energy storage capacity. The project is currently under construction and is expected to reach commercial operation during the first half of 2027.

Crimson Orchard represents a total investment of $326-342 million, with estimated tax equity proceeds of $160-170 million and total project investment net of tax equity of $162-172 million. In its first full year of operation, the project is expected to generate $27-28 million in revenue and approximately $20-21 million in EBITDA.

The project is backed by a 20-year busbar solar power purchase agreement and a 20-year energy storage tolling agreement with Idaho Power, providing long-term contracted revenues.

The project was qualified for safe harbor status in 2025, as part of the 13 FGW¹ that Enlight has successfully safe-harbored to date. 

"This achievement underscores Enlight’s successful track record of project development and robust financing for our U.S. portfolio," said Adi Leviatan, Enlight’s CEO. "We are proud to once again collaborate with a group of high-quality global lenders whose partnership enables us to advance innovative renewable energy projects like Crimson Orchard. Their continued trust and support reflect the strength of our strategy and the impact we strive to make in the clean energy transition."

Sven Wellock, Managing Director at ING: “We are pleased to support Enlight and Clēnera on the financing of the Crimson Orchard project. This transaction reflects the type of high‑caliber renewable infrastructure ING seeks to back, combining a strong sponsor team, long‑term contracted revenues, and a strategically located solar plus storage asset that enhances grid reliability in a rapidly evolving power market. We value our ongoing partnership with Enlight and Clēnera and are proud to contribute to a project that will deliver dependable, affordable clean energy to Idaho for years to come.”

“Crimson Orchard marks our second financing with Clēnera, and we’re thrilled to continue supporting their momentum in the U.S. renewables market,” said Ari Citrin, Managing Director, Utilities, Power & Renewable Energy Group Investment Banking at KeyBanc Capital Markets. “Clēnera has established itself as one of the most capable and fast‑growing IPPs in the sector, and we look forward to expanding our partnership meaningfully as they scale.”

“MUFG is proud to partner with Enlight on this important financing, which advances our shared commitment to expanding the capacity of the grid and meeting the nation’s energy needs,” said Elizabeth Waters, Managing Director, Project Finance, MUFG. “As Administrative Agent, Coordinating Lead Arranger, Documentation Agent, and Joint Bookrunner, MUFG is pleased to leverage our expertise in structuring innovative solutions that create sustainable energy sources and deliver long-term value to communities across the United States.”

¹(Factored GW) is the company’s consolidated metric combining generation and storage capacity into a uniform figure based on the ratio of construction costs. Current weighted average construction cost ratio is 3.5 GWh of storage per 1 GW of generation: FGW = GW + GWh / 3.5.

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 financing did Enlight (ENLT) secure for the Crimson Orchard project on March 16, 2026?

Enlight secured $304 million in construction and term debt commitments. According to Enlight, the financing was provided by HSBC, ING Capital, KeyBanc Capital Markets and MUFG.

What are the size and expected commercial operation date for ENLT's Crimson Orchard project?

Crimson Orchard is 120 MW solar paired with 400 MWh storage, expected to reach commercial operation in H1 2027. According to Enlight, construction is already underway.

What first-year financial contribution is expected from ENLT's Crimson Orchard project?

The project is expected to generate $27–28 million in revenue and $20–21 million in EBITDA in its first full year. According to Enlight, these figures reflect contracted revenue profiles.

How much total investment and tax equity are involved in the Crimson Orchard project (ENLT)?

Total project investment is estimated at $326–342 million with tax equity proceeds of $160–170 million. According to Enlight, net project investment after tax equity is about $162–172 million.

What contracts support the revenue for Enlight's Crimson Orchard (ENLT) project?

Crimson Orchard is supported by a 20-year busbar solar PPA and a 20-year energy storage tolling agreement with Idaho Power. According to Enlight, these provide long-term contracted revenues.

Which lenders participated in the Crimson Orchard financing for ENLT and what role did MUFG play?

Lenders include HSBC, ING Capital, KeyBanc Capital Markets and MUFG. According to Enlight, MUFG acted as Administrative Agent, Coordinating Lead Arranger, Documentation Agent and Joint Bookrunner.