Enlight Renewabl Stock Price, News & Analysis

Enlight Renewable Energy (NASDAQ: ENLT) has announced the financial close for the Energy Storage portion of its Atrisco Solar and Energy Storage project in New Mexico, USA. The project combines 364 MW of solar capacity with 1.2 GWh of battery storage, costing $827 million. Financing includes $290 million in term debt and $420 million in tax equity, with Enlight's equity investment at $117 million. The Energy Storage financing involves a $401 million loan agreement led by HSBC, converting to a $185 million term loan and $222 million in tax equity upon project completion. Enlight expects to recycle $234 million of equity back to its balance sheet for future growth. The project is set for full Commercial Operation Date (COD) later this year, marking a significant step in Enlight's U.S. expansion strategy.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, has announced it will release its financial results for the second quarter ended June 30, 2024, before market open on Wednesday, August 7, 2024. The company will host a conference call and webcast on the same day to review its financial results and business outlook.

Participants can join the conference call by pre-registering or attend via webcast. The press release with financial results and investor presentation materials will be available on the company's website prior to the call. An archived version of the webcast will be accessible on Enlight's investor relations website approximately one hour after the live call concludes.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT.TA) has released its 2023 Sustainability Report, detailing the company's progress in environmental, social, and governance (ESG) initiatives. The report highlights Enlight's significant contributions, such as preventing 1.4 million tonnes of CO2 equivalent emissions over the past year. The company emphasizes its commitment to advancing renewable energy through wind, solar, and energy storage projects, aiding global efforts to reach Net Zero goals. Enlight remains dedicated to delivering clean, reliable, and cost-effective energy, while ensuring shareholder value and growth.

Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT), a global renewable energy platform, announced its participation in two upcoming investor conferences. The company will be present at the JP Morgan Energy, Power and Renewables Conference in New York City on June 17, 2024, and at the Roth MKM London Conference on June 26, 2024. During these events, Enlight's management will engage in one-on-one and small group meetings with institutional investors. Interested parties are encouraged to contact their JP Morgan or Roth MKM sales representatives for more information or to schedule meetings.

Enlight Renewable Energy reported financial results for Q1 2024, with revenue of $90m (up 27% YoY), adjusted EBITDA of $68m (up 28% YoY), net income of $24m (down 26% YoY), and cash flow from operations of $35m (down 36% YoY). The company reaffirmed its full-year 2024 guidance.

Key developments include high generation volumes at wind projects, progress on U.S. projects, financial close for European projects, and strong operational performance. CEO Gilad Yavetz highlighted the robust start to 2024 and positive outlook for the year.

Revenue distribution by segment showed growth in Israel, Central-Eastern Europe, and Western Europe. Net income decreased due to one-off benefits in the previous year, while adjusted EBITDA saw a 28% increase driven by revenue growth.