Enlight Signs 200 MW AC Solar Power Purchase Agreement with Google to Support Data Center Operations in Oklahoma
Rhea-AI Summary
Enlight Renewable Energy (NASDAQ: ENLT) signed a 15-year, fixed-price, 200 MWac solar power purchase agreement with Google to supply PV energy from the 250 MWdc Solstice project in LeFlore County, Oklahoma.
Construction is expected in 2028, with commercial operations targeted for 2029 and a later 800 MWh storage phase, marking Enlight’s first U.S. commercial PPA and first project in the Southwest Power Pool market.
Positive
- 15-year fixed-price 200 MWac PPA with Google
- First U.S. commercial power purchase agreement for Enlight
- Entry into the Southwest Power Pool market
- Solstice project sized at 250 MWdc solar capacity
- Planned future expansion to 800 MWh battery storage
Negative
- None.
News Market Reaction – ENLT
In the May 26 session, ENLT gained 12.26%, reflecting a significant positive market reaction. Argus tracked a peak move of +6.2% during that session. Our momentum scanner triggered 33 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 08 | Investor event announcement | Neutral | +6.4% | Company scheduled a virtual investor event featuring senior management presentations. |
| May 05 | Q1 2026 earnings | Positive | +2.1% | Reported strong Q1 revenue, EBITDA growth and reaffirmed 2026 guidance and portfolio expansion. |
| Apr 20 | Earnings date notice | Neutral | +1.3% | Announced timing and access details for upcoming Q1 2026 earnings release and calls. |
| Mar 16 | Project financing | Positive | +7.4% | Secured $304m financing for Crimson Orchard solar+storage with long-term contracts. |
| Feb 17 | Q4/FY 2025 earnings | Positive | +16.0% | Delivered strong Q4 and FY25 growth with raised 2026 revenue and EBITDA guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news, including earnings beats, project financing and corporate updates, has consistently seen positive price reactions aligned with generally constructive fundamentals.
This announcement builds on a strong stretch of news for Enlight. In Q4 2025 and Q1 2026, the company reported rapid growth, with revenues & income reaching $582m for FY25 and $200m in 1Q26, alongside rising Adjusted EBITDA and reaffirmed 2026 guidance. In March 2026, Enlight secured $304m in project financing for the Crimson Orchard solar+storage project, highlighting execution on large U.S. assets. An investor day was also scheduled for May 19, 2026, signaling focus on long‑term growth and capital deployment, which frames today’s Google PPA as another step in that trajectory.
Key Terms
power purchase agreement financial
photovoltaic (pv) technical
southwest power pool technical
battery energy storage technical
system impact study technical
interconnection approval regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
The agreement expands Enlight’s U.S. business to large commercial customers
The electricity will be generated by Solstice, a 250 MWdc solar project in LeFlore County, Oklahoma
The project has cleared a system impact study and is expected to receive full interconnection approval in 2026
TEL AVIV, Israel, May 26, 2026 (GLOBE NEWSWIRE) -- Enlight Renewable Energy (TASE: ENLT; NASDAQ: ENLT), a leading global renewable energy developer and independent power producer, announces the signing of a physical power purchase agreement with Google in Oklahoma, delivered to the Southwest Power Pool market. The transaction was led by Enlight’s U.S. subsidiary, Clēnera Holdings, LLC.
Under the agreement, Clēnera will provide 200 MWac of photovoltaic (PV) energy generation from its Solstice project under a fixed price, 15-year contract. Solstice is a 250 MWdc solar project in Oklahoma, being developed by Enlight’s U.S. subsidiary Clēnera Holdings. Construction is expected to begin in 2028, with commercial operations targeted for 2029. Solstice is anticipated to expand to include 800 MWh of battery energy storage capacity in a subsequent phase. The energy generated from Solstice will power Google’s data center operations in the region.
The agreement is Enlight’s first U.S. power purchase agreement with a commercial customer and its first project to reach this stage in the Southwest Power Pool (SPP). SPP is one of the largest and fastest growing power markets in the United States, with strong demand fundamentals driven by electrification, industrial growth and expansion of data center capacity. According to the 2025 Integrated Transmission Planning Assessment Report, the SPP peak load is expected to increase by nearly 5 GW between 2026 and 2029. Additionally, the SPP market is projected to retire over 5.7 GW of fossil generation resources by 2029, making new investments in generation more important than ever.
“The Solstice project marks a new chapter for Enlight and Clēnera in the U.S.,” said Enlight Chief Executive Officer Adi Leviatan. “By signing this agreement with Google, we are expanding our U.S. customer base beyond utilities to large load commercial customers, including the fast-growing data center sector. These customers require high-quality, high-capacity projects that can be delivered with speed and certainty. Enlight and Clēnera have built the capabilities, pipeline and execution track record to meet this demand, and we believe this agreement is only the beginning of a significant growth opportunity for our U.S. business.”
“Google is committed to growing in a way that supports our neighbors and strengthens the electricity grid,” said Will Conkling, Director of Energy and Power, Google. “This new agreement with Clēnera will help bring more power generation online in Oklahoma, contributing to a more robust, affordable, and reliable energy system for all.”
The Solstice solar facility has successfully completed a system impact study and is expected to receive full interconnection approval later this year.
“We are looking forward to our entrance into the SPP market and specifically the local community in Oklahoma,” said Clēnera CEO Jared McKee. “During construction, we will employ hundreds of skilled laborers with economic benefits rippling through the community. During operations, Solstice will deliver reliable, clean energy while contributing significant local and state taxes to the community. We are committed to being good stewards of the land and I am excited to partner with Google in this shared mission for many years to come.”
About Enlight Renewable Energy:
Founded in 2008, Enlight Renewable Energy is a global renewable energy developer and independent power producer. The Company develops, finances, constructs, owns, and operates utility-scale renewable energy projects across solar, wind, and energy storage. Enlight operates in the United States, Israel, and Europe. Enlight has been traded on the Tel Aviv Stock Exchange (TASE: ENLT) since 2010 and has been listed on Nasdaq following its U.S. IPO in 2023 (Nasdaq: ENLT). Learn more at www.enlightenergy.com
Enlight Investor Contacts
Limor Zohar Megen
Director IR
investors@enlightenergy.com
Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
+1 617 542 6180
investors@enlightenergy.com
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects, as well as timing of construction of any project; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; our ability to obtain tax benefits and credits in the U.S. or other jurisdictions; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”), as may be updated in our other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
