Enlight Renewable Energy Secures Financing for US Project
Ticker: ENLT · Form: 6-K · Filed: Jul 29, 2024 · CIK: 1922641
Sentiment: bullish
Topics: financing, project-development, renewable-energy, us-operations
TL;DR
Enlight Renewable Energy just closed financing on its Atrisco Energy Storage project in New Mexico. Big US expansion move.
AI Summary
Enlight Renewable Energy Ltd. announced on July 29, 2024, the financial close for its Atrisco Energy Storage project located in New Mexico, USA. This marks a significant step for the company's expansion in the United States.
Why It Matters
This financial close enables Enlight Renewable Energy to proceed with the development of a key energy storage project in the US, contributing to renewable energy infrastructure.
Risk Assessment
Risk Level: low — The filing is an announcement of a completed financing event, which is generally a positive development with low inherent risk.
Key Players & Entities
- Enlight Renewable Energy Ltd. (company) — Registrant and project developer
- Atrisco Energy Storage project (company) — Project being financed
- New Mexico, USA (location) — Project location
FAQ
What is the specific capacity of the Atrisco Energy Storage project?
The filing does not specify the capacity of the Atrisco Energy Storage project.
What is the total amount of financing secured for the Atrisco Energy Storage project?
The filing announces the financial close but does not disclose the total financing amount.
When is the Atrisco Energy Storage project expected to be operational?
The filing does not provide an expected operational date for the project.
Who are the key financial partners involved in the Atrisco Energy Storage Financing?
The filing mentions the financial close but does not name the specific financial partners.
Does this financing impact Enlight Renewable Energy's existing debt or equity structure?
The filing announces the financing event but does not detail its impact on the company's financial structure.
Filing Stats: 2,077 words · 8 min read · ~7 pages · Grade level 20 · Accepted 2024-07-29 06:00:35
Key Financial Figures
- $401 million — BC Securities (USA) Inc., and totalling $401 million. The funds will be used for the constru
- $458 million — ect, whose total cost is expected to be $458 million. The Atrisco Energy Storage Financing w
- $185 million — y Storage Financing will convert into a $185 million term loan provided by the consortium le
- $222 million — m led by HSBC, as well as tax equity of $222 million provided by U.S. Bancorp Impact Finance
- $234 million — 5, 2024, the Company expects to recycle $234 million of equity back to its balance sheet. Fu
- $52 million — 8 million $185 million $ 222 million $52 million Atrisco Solar $369 million $105 mill
- $369 million — 22 million $52 million Atrisco Solar $369 million $105 million `$198 million 1 $65 mi
- $105 million — 2 million Atrisco Solar $369 million $105 million `$198 million 1 $65 million Total
- $198 million — sco Solar $369 million $105 million `$198 million 1 $65 million Total $827 million $
- $65 million — illion $105 million `$198 million 1 $65 million Total $827 million $290 million $42
- $827 million — `$198 million 1 $65 million Total $827 million $290 million $420 million $117 milli
- $290 million — n 1 $65 million Total $827 million $290 million $420 million $117 million Total proj
- $420 million — ion Total $827 million $290 million $420 million $117 million Total project cost net o
- $117 million — 27 million $290 million $420 million $117 million Total project cost net of tax equity
- $236 million — in first full year Atrisco Storage $236 million $32-34 million $27-29 million Atrisc
Filing Documents
- zk2431722.htm (6-K) — 33KB
- exhibit_99-1.htm (EX-99.1) — 30KB
- 0001178913-24-002298.txt ( ) — 64KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Enlight Renewable Energy Ltd. Date: July 29, 2024 By: /s/ Nir Yehuda Nir Yehuda Chief Financial Officer 5