Enlight Renewable Energy Launches Atrisco Solar Project Operations

Enlight Renewable Energy Successfully Commences Atrisco Project

Enlight Renewable Energy is excited to announce the official start of commercial operations at its innovative Atrisco Solar and Energy Storage project. Located just outside Albuquerque, this ambitious initiative features an impressive capability of 364 megawatts of solar generation and an energy storage capacity of 1.2 gigawatt-hours, placing it at the forefront of renewable energy advancements.

Details of the Atrisco Project

The Atrisco project represents a significant achievement for Enlight, underscoring its commitment to clean energy solutions. Currently, the solar generation array is set to ramp up to full commercial operations over the coming weeks, while the energy storage component is expected to achieve commercial operation before the year concludes. The generated electricity will be sold to the Public Service Company of New Mexico under a long-term 20-year power purchase agreement, which ensures a stable supply of clean energy for the community.

Impact on Local Households

The clean energy generated by Atrisco is poised to make a substantial difference, as it is estimated to meet the annual energy needs of around 110,000 households in New Mexico. This is a testament to Enlight's dedication to fostering sustainable energy solutions that benefit local communities.

Major Financial Investments

With a total project investment of approximately $827 million, Atrisco stands as Enlight's largest project to date, both in terms of capacity and financial commitment. The development has provided jobs to hundreds of skilled workers, reflecting Enlight’s role in enhancing local employment opportunities. The construction was under the stewardship of Clenera, Enlight’s U.S. subsidiary, alongside RES Americas serving as the engineering, procurement, and construction contractor.

Financing and Partnerships

In terms of financing, the project has secured $290 million from a consortium of large American and international banks, led by HSBC. Strategic partnerships were crucial, with Bank of America and US Bank contributing an additional $420 million through tax equity. Such robust financing not only underscores confidence in the Atrisco project but also highlights the resilience of Enlight Renewable Energy as a leading player in the renewable sector.

Leadership Statements on the Project

Clenera's President and CEO, Adam Pishl, remarked, "Achieving the first phase of commercial operations at Atrisco is a significant milestone. By transforming a previously underutilized site into a clean energy power plant, we have created lasting value for New Mexico residents. This project reflects our ongoing commitment to the region."

Enlight’s CEO, Gilad Yavetz, added, "The initiation of operations at Atrisco marks a pivotal moment for both Enlight and the broader New Mexico economy. Our commitment to providing affordable, emission-free energy aligns perfectly with our goals for environmental sustainability and community growth. Furthermore, our additional projects in New Mexico are in advanced development stages, reinforcing our dedication to the region’s energy needs and economic prosperity."

About Enlight Renewable Energy

Established in 2008, Enlight Renewable Energy is at the forefront of developing, financing, constructing, owning, and operating large-scale renewable energy projects. With operations spanning the United States, Israel, and ten European countries, Enlight is committed to advancing sustainability through solar, wind, and battery energy storage projects. After its IPO in 2023, Enlight continues to strengthen its presence on the U.S. stock market, symbolized by NASDAQ: ENLT and TASE: ENLT.TA.

Frequently Asked Questions

What is the Atrisco Solar project?

The Atrisco Solar project is a renewable energy initiative by Enlight Renewable Energy, featuring 364 MW of solar generation capacity and 1.2 GWh of energy storage.

Where is the Atrisco project located?

The project is located outside Albuquerque, providing sustainable energy solutions to the local community.

How will the Atrisco project benefit local households?

The project will generate clean energy equivalent to the annual consumption of approximately 110,000 New Mexico households.

What does the financing for the Atrisco project look like?

The project received $290 million in debt financing and $420 million from tax equity partners to realize this significant investment in renewable energy.

What future projects does Enlight have in New Mexico?

Enlight has additional clean energy initiatives in advanced development stages, aiming to continue its positive impact on energy security and economic growth in the region.

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