- Enlight Renewable Energy, with Clenera, secured $397 million for the Atrisco Solar & Storage project, which will combine 364 MW of solar power with 1.2 GWh of storage.
- Under a 20-year PPA with PNM, the project will generate $51-$55 million in annual revenue and $41-$45 million in EBITDA in its first year.
- Enlight and Clenera have launched three additional hybrid projects, adding 810 MW of solar and 2 GWh of storage across the Western U.S., projecting up to $141 million in annual revenue.
Enlight Renewable Energy, with its U.S. subsidiary Clenera, secured $397 million in financing for the Atrisco Solar & Storage hybrid project. Located near Albuquerque, New Mexico, the project combines 364 MW of solar power with 1.2 GWh of battery storage, addressing the rising demand for renewable and flexible energy solutions.
In October 2024, the solar unit reached full operational capacity, and by late November, the battery storage system came online. On December 13, 2024, Enlight and Clenera converted construction financing into a term loan supported by additional tax equity proceeds. The project saved $10 million from its initial budget estimates, bringing its total cost to $397 million.
Under a 20-year Power Purchase Agreement (PPA) with the Public Service Company of New Mexico (PNM), Atrisco will generate annual revenues between $51 million and $55 million. Projections for EBITDA in its first year of entire operations range from $41 million to $45 million.
Atrisco is now Enlight and Clenera’s largest solar battery project to date. This success strengthens their presence in the hybrid energy market across North America. The project also reflects the increasing role of large-scale battery storage in stabilising renewable energy output.
Building on this success, Enlight and Clenera initiated the construction of three more hybrid energy complexes in the Western United States: Country Acres, Roadrunner, and Quail Ranch. These projects will add 810 MW of solar power and over 2 GWh of energy storage. The combined annual revenues are projected to reach between $132 million and $141 million.
Ilan Goren, General Manager of Enlight US, highlighted the strategic importance of these projects: “Quail Ranch, an extension of Atrisco, taps into existing infrastructure to boost efficiency. These initiatives fit into our ‘Connect and Expand’ strategy, where each grid connection opens up future opportunities to scale production.”
Enlight and Clenera continue to pioneer the hybrid energy model, combining solar power generation with energy storage. This approach allows them to deliver consistent power, even when solar output dips. Atrisco is a prime example of how hybrid systems can offer reliable and flexible energy to meet market demands.
New Mexico’s commitment to renewable energy further supports the success of the Atrisco project. The state’s ambitious clean energy targets align with Atrisco’s contribution, positioning it as a model for future regional hybrid projects.
Enlight Renewable Energy plans to leverage the momentum of Atrisco and other projects to expand its footprint in the U.S. hybrid energy market. The company aims to solidify its role in renewable energy by focusing on hybrid systems that enhance grid stability and energy reliability.
With Atrisco fully operational and additional projects underway, Enlight and Clenera stand at the forefront of the U.S. shift towards clean, dependable energy solutions.