Enlight Raises $2.6B for Arizona Solar‑Storage

Enlight clinches $2.6 billion financing – the deal is sealed

Enlight Renewable Energy has secured a $2.6 billion financing package to build a 1.2 GW solar‑plus‑storage complex in Arizona. The agreement was announced in early February 2026 and represents one of the largest single debt raises for the Israeli IPP to date. The money comes from a consortium of seven international banks and tax‑equity partners, allowing construction to start this year.

Project scope: 1.2 GW of solar and 4 GWh of storage in five phases

The Arizona complex, dubbed the CO Bar project, will be rolled out in five phases, together delivering about 1.2 GW of photovoltaic capacity and 4 GWh of battery storage. When fully operational, the plant will provide a substantial amount of clean electricity and grid‑stabilising services through its lithium‑ion batteries, a model increasingly favoured in sun‑rich states like Arizona.

Financing details: seven global lenders and tax‑equity partners

According to the press release on GlobeNewswire, the debt tranche was arranged by a group of seven global lenders, complemented by tax‑equity partners. A separate tax‑equity partnership adds further equity to the financing structure. This approach mirrors the financing model used for Enlight’s earlier Snowflake A project in Arizona, which raised $1.44 billion in 2025.

Economic impact: $255 million first‑year revenue

Enlight projects $255 million of revenue in the first full year of operation, based on power purchase agreements with Arizona utilities. The project is expected to generate significant economic activity during construction and will contribute meaningfully to Arizona’s renewable‑energy goals.

How the Arizona megaproject compares to Israeli utility‑scale solar

Israeli utility‑scale solar farms are generally smaller in capacity than the Arizona venture, and most domestic projects are only beginning to incorporate storage. The Arizona deal illustrates how Israeli developers can leverage international capital markets to pursue much larger, storage‑enabled projects.

What it means for Israel: a benchmark for financing and ROI

For Israeli investors and homeowners, the $2.6 billion deal illustrates two take‑aways. First, large‑scale debt financing is now accessible to Israeli IPPs that can demonstrate stable cash flows from long‑term PPAs. Second, the economics of utility‑scale solar can be mirrored at the residential level using our typical Israeli figures: a 10 kWp rooftop system in the central region yields ~17,000 kWh/year, valued at ₪8,160 at the residential tariff of ₪0.48/kWh. With a turnkey cost of ₪3,150/kWp (≈₪31,500 total), the simple payback is about 3.9 years, well before the 25‑year system life ends. If Israeli developers can replicate the financing structure used by Enlight—mixing senior debt, tax equity, and PPAs—their projects could achieve similar payback periods while supporting the national goal of 30 % renewable electricity by 2030.

Outlook: scaling solar‑plus‑storage across borders

Enlight plans to commission the first phases of CO Bar in the coming years, with full capacity expected later in the decade. The success of this financing package could encourage other Israeli renewable firms to pursue comparable U.S. projects, especially in states with strong solar resources and supportive storage policies. For Israel, the lesson is clear: leveraging international capital markets and storage‑enabled solar can accelerate the transition to clean power while delivering attractive returns for investors and consumers alike.

Sources & further reading

• Clean Energy Pipeline | LinkedIn
• Enlight Reaches Final Development Milestones for CO Bar,
• tm2219901-13_f1 - none - 88.6566546s - SEC.gov
• Press Releases - Enlight Renewable Energy
• Enlight raises $2.6b for Arizona solar project - Globes