Enlight Renewable Energy Secures $2.6 Billion Financing for 1.2GW Arizona Solar Complex
ENLT•Enlight Renewable Energy’s US subsidiary Clēnera secured $2.6 billion in debt financing from seven institutions to fund the 1.2 GW solar and 4 GWh storage CO Bar Complex in Arizona. The project, with total investment of $2.9–3.04 billion, targets operations in H2 2027 and revenue of $250–260 million in its first full year.
1. Financing Framework
Clēnera has finalized a financing framework totaling $2.6 billion for the CO Bar Complex, securing $1.7 billion in term debt alongside $1.45–1.52 billion in tax equity proceeds. The overall project investment is estimated at $2.9–3.04 billion.
2. Project Scope and Timeline
The CO Bar Complex encompasses five solar and storage projects delivering 1.2 GW of solar capacity and 4 GWh of energy storage. Construction on units 1–3 is underway, with full mobilization on units 4–5 expected in H2 2026 and commercial operations targeted for H2 2027 through H1 2028.
3. Financial Outlook and Partnerships
In its first full year, CO Bar is projected to generate $250–260 million in revenue and $205–210 million in EBITDA. The projects are backed by five long-term offtake agreements with Salt River Project and Arizona Public Service, and aim to secure bonus tax credits for energy community and domestic content in 2027.
