Enlight Renewable Energy Secures Tax Equity Partnership for Quail Ranch Project
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Enlight Renewable Energy ( (IL:ENLT) ) just unveiled an update.
Enlight Renewable Energy Ltd. announced that its subsidiary, Clenera Holdings LLC, has finalized a tax equity partnership with Wells Fargo Bank for the Quail Ranch Solar Power and Energy Storage Project near Albuquerque, New Mexico. The project, which includes 128 MW of solar power and 400 MWh of energy storage, is set to reach commercial operation by the end of 2025. The partnership involves a $131 million contribution from Wells Fargo upon the project’s completion, with additional financial benefits expected over the first decade. This agreement is significant for Enlight’s strategic positioning in the renewable energy sector, potentially enhancing its market presence and financial stability.
The most recent analyst rating on (IL:ENLT) stock is a Buy with a ILs12363.00 price target. To see the full list of analyst forecasts on Enlight Renewable Energy stock, see the IL:ENLT Stock Forecast page.
More about Enlight Renewable Energy
Enlight Renewable Energy Ltd. operates in the renewable energy industry, focusing on developing and managing solar and energy storage projects. The company is headquartered in Rosh Ha’ayin, Israel, and is involved in projects that enhance sustainable energy solutions.
YTD Price Performance: 84.69%
Average Trading Volume: 369,073
Technical Sentiment Signal: Buy
Current Market Cap: ILs14.98B
See more insights into ENLT stock on TipRanks’ Stock Analysis page.
