The renewable energy company Enlight will sell electricity it will produce in Arizona

Posted on Sep 22, 2021 by Ifi Reporter

The renewable energy company Enlight is accelerating the rate of realization of assets it has acquired in the US. The subsidiary Clenera, in which Enlight holds 90% of the share capital, has signed an agreement to sell the electricity it will produce in the 480-440 megabyte solar project Co Bar Solar in Arizona. The investment in the project is estimated at $ 450 million - and it is expected to be one of the largest in the country.
Under the agreement, Clanera will sell the electricity to the Salt River Project - a non-profit AA + institution that serves one million electricity and water consumers in the Phoenix metropolitan area - for a period of 20 years. Analyte notes that the project is in the midst of a development process and has completed several milestones, including obtaining land rights, and has begun the procedures for obtaining a building permit and approval to connect the project to the electricity grid.
Analyte, which is managed by Gilad Yavetz, estimates that the development processes of the project will be completed in 2023, and its commercial operation will begin in 2024. The project will generate electricity for 80,000 households, and will save 453,000 tons of carbon dioxide emissions.
In June, Enlight acquired control of Clanera at a company value of $ 430 million. The acquired company has established, developed and sold 1.6 megawatts of solar facilities, and holds a portfolio of 50 large solar projects in various stages of development, the combined capacity of which is 12 gigawatts, and some of which will incorporate energy storage facilities with a cumulative capacity of 5.5 gigawatt hours.
The current agreement was signed two weeks after Clanara signed an agreement to sell electricity to be generated at the 120-megawatt Rustic Hills solar project in Indiana. Clanera will sell the electricity in the 20 years beginning with the commercial launch of the project to the Hoosier Energy Rural Cooperative - an A2-rated cooperative that serves 18 cooperatives that supply electricity in the states of Indiana and Illinois. Clanera has so far signed eight long-term agreements for the sale of electricity to be generated in its projects, with a combined capacity of 1,453 megawatts and 600 megawatts of energy storage.


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