Arizona Public Service to Secure Power from CO Bar Solar, One of the Largest Solar Projects in the U.S.
30 August 2023 - 10:30PM
Clēnera, an Enlight Company (“Enlight”, NASDAQ: ENLT, TASE:
ENLT.TA), today announced a 20-year power purchase agreement
(“PPA”) with Arizona Public Service (APS), Arizona’s largest
utility, for 258 MW of solar and 824 MWh of battery storage at the
CO Bar complex outside of Flagstaff, Arizona.
The CO Bar complex is a landmark solar and storage
complex being developed by Clēnera, a subsidiary of Enlight
Renewable Energy. The complex comprising a total of 1.2 GW and 824
MWh of battery storage is expected to be one of the largest
renewable energy installations in the United States.
“We are excited to work with APS to develop the
first combined solar and storage project at the CO Bar complex and
help drive Arizona’s clean energy initiatives to deliver
affordable, clean power to households in the state,” said Gilad
Yavetz, CEO of Enlight.
The agreement with APS reflects the third power
purchase agreement signed at the complex - but the first with
battery storage. Post execution of the PPA with APS, the entire
complex is now contracted to leading utilities in Arizona. The
complex is on schedule to commence construction by the end of the
year and to reach operation in phases over the course of 2025.
Jason Ellsworth, CEO at Clēnera, added: “We look
forward to our partnership with APS and are proud to have
established ourselves as a key player and a preferred partner in
the state and are excited to pursue future opportunities to develop
additional renewable energy projects here.”
About Enlight Renewable
EnergyFounded in 2008, Enlight develops, finances,
constructs, owns, and operates utility-scale renewable energy
projects. Enlight operates across the three largest renewable
segments today: solar, wind and energy storage. A global platform,
Enlight operates in the United States, Israel and 9 European
countries. Enlight has been traded on the Tel Aviv Stock Exchange
since 2010 (TASE: ENLT) and completed its US IPO (NASDAQ: ENLT) in
2023. Learn more at enlightenergy.co.il.
About ClēneraClenera, LLC
("Clēnera"), a subsidiary of Enlight Renewable Energy, develops,
finances, constructs, owns, and operates utility-scale solar farms
and energy storage facilities throughout the United States.
Combining breakthrough technology with a deeply integrated team
approach, Clēnera provides reliable, affordable energy systems and
helps its utility partners become clean energy leaders in their
communities. Learn more at clenera.com.
Forward-Looking
StatementsInformation provided in this press release may
contain statements relating to current expectations, estimates,
forecasts, and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that we expect or
anticipate will or may occur in the future, including such matters
as our projections of annual revenues, expenses and debt service
coverage with respect to our debt securities, future capital
expenditures, business strategy, competitive strengths, goals,
development or operation of generation assets, market and industry
developments and the growth of our business and operations, are
forward-looking statements. When used in this press release, the
words “may”, “will”, “could”, “should”, “expects”, “plans”,
“anticipates”, “believes”, “estimates”, “predicts”, “projects”,
“potential”, or “contemplate” or the negative of these terms or
other comparable terminology are intended to identify
forward-looking statements, although not all forward-looking
statements contain such words or expressions. These forward-looking
statements generally relate to Enlight's plans, objectives and
expectations for future operations and are based upon its
management's current estimates and projections of future results or
trends. Although we believe that our plans and objectives reflected
in or suggested by these forward-looking statements are reasonable,
we may not achieve these plans or objectives. Actual future results
may differ materially from those projected as a result of certain
risks and uncertainties and other risks described under "Risk
Factors" as described in Enlight’s annual report on Form 20-F filed
with the Securities and Exchange Commission (“SEC”) on March 30,
2023, and in Enlight’s subsequent quarterly reports on Form 6-K and
annual reports on Form 10-K that are filed from time to time with
the SEC and TASE. These forward-looking statements are made only as
of the date hereof, and, except as legally required, we undertake
no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
ContactsMedia
Contact Rachel Kahnrachel@blueshirtgroup.com
Investor Contact Alex
Wellinsalex@blueshirtgroup.com
Enlight Renewable Energy (NASDAQ:ENLT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Enlight Renewable Energy (NASDAQ:ENLT)
Historical Stock Chart
From Sep 2023 to Sep 2024