- Enlight secured $773 million in financing for the 403 MW solar and 688 MWh storage Country Acres project near Sacramento, California.
- The project has a 30-year solar PPA and 20-year storage PPA with Sacramento Municipal Utility District (SMUD).
- Enlight plans to leverage existing interconnection infrastructure for future projects, and the Snowflake and CO Bar projects are set to begin construction soon.
Enlight Renewable Energy Ltd, through its subsidiary Clenera Holdings LLC, secured $773 million in construction financing for the Country Acres project near Sacramento, California. The project will combine 403 MW of solar capacity and 688 MWh of energy storage. Construction began at the 966-acre site, with all procurement contracts signed.
The financing consortium includes BNP Paribas, Crédit Agricole CIB, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale (Nord/LB). The construction loan will convert into a $376 million term loan upon completion. Enlight also plans to close a tax equity transaction during construction.
The Country Acres project meets U.S. regulatory requirements and qualifies for “safe harbour” status. This status is crucial for early-stage construction and ensures compliance with federal incentives. The project signed a 30-year solar Power Purchase Agreement (PPA) and a 20-year storage PPA with the Sacramento Municipal Utility District (SMUD).
Country Acres joins Enlight and Clenera’s growing U.S. project portfolio, which includes developments in Apex, Montana, and Atrisco, New Mexico. Other projects in progress include Quail Ranch (128 MW and 400 MWh) and Roadrunner (290 MW and 940 MWh). Once completed, these projects will generate significant revenue, with Enlight forecasting annual U.S. revenue between $195 million and $207 million.
Enlight’s strategy leverages existing interconnection infrastructure to support further capacity growth. The following significant initiatives, Snowflake (600 MW and 1,900 MWh) and CO Bar (1,211 MW and 824 MWh), will begin construction soon. Both projects will include 1.0 GW grid connections, marking some of the largest in the U.S.
This financing deal marks the second partnership between Enlight and the financing consortium in less than three months. Ilan Goren, General Manager of Enlight USA, emphasised the importance of this continued partnership. The deal underscores Clenera’s strong relationships with financial partners, supporting its expanding pipeline of renewable energy projects.
Country Acres will become operational by the second half of 2026. The project will help meet California’s renewable energy goals while strengthening the region’s grid reliability. It adds to Enlight’s expanding portfolio of solar and storage projects across the U.S., positioning the company to play a key role in the transition to clean energy.
Country Acres’s financing success and continued development highlight Enlight’s commitment to advancing large-scale renewable energy projects. The company remains well-positioned for future growth, focusing on solar and energy storage solutions that support sustainable energy generation and grid stability. As construction progresses, Enlight will continue working to meet project milestones and deliver clean energy to meet growing demand in California and beyond.