Enlight Subsidiary Clenera Partners with SMUD on Country Acres Solar and Storage Project in California
Portfolio Pulse from Benzinga Newsdesk
Enlight Renewable Energy Ltd. (NASDAQ:ENLT) announced that its subsidiary Clenera's affiliate, Country Acres, has signed agreements for a solar and storage project in California. The project will have a capacity of 392 MWdc/344MWac solar energy and 688 MWh storage. A 30-year PPA for solar and 20-year for storage has been signed with SMUD. Construction is set to begin in 2024, operations in 2026, and the project will power about 80,000 homes annually with zero carbon electricity. It also includes an agrivoltaic pilot program.
November 20, 2023 | 11:59 am
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Enlight Renewable Energy's subsidiary Clenera is developing a significant solar and storage project in California, which has secured a long-term PPA with SMUD, indicating a stable revenue stream for the future.
The announcement of a new project with a long-term PPA is a positive development for Enlight Renewable Energy, as it ensures a stable revenue stream and expands the company's portfolio in renewable energy. The project's large scale and innovative agrivoltaic program may attract investor interest, potentially leading to a short-term positive impact on ENLT's stock price.
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