Two Enlight Facilities Win Bids in the Israel Electricity Authority's Energy Storage Tender and the Company Expects to Construct Total Storage Capacity in the Range of 1,300 to 1,900 MWh

Core Viewpoint - Enlight Renewable Energy continues to lead the energy storage sector in Israel, having secured two energy storage facilities in the Israel Electricity Authority's first availability tariff tender process, which highlights the company's significant role in the renewable energy transition in the region [1][5]. Company Developments - The two selected sites, Neot Smadar and Ohad, have a combined grid connection capacity of 300 MW AC, allowing for the potential construction of projects with a total storage capacity of 1,300 MWh, which could increase to 1,900 MWh after transitioning to the deregulated market [2][4]. - The construction cost for the two facilities is estimated to be between $210 million and$250 million, with expected average annual revenues of $75 million to$85 million and average annual EBITDA of $37 million to$42 million over the projects' lifespan [3]. Industry Position - Enlight holds approximately 8 GWh of mature storage projects expected to be operational by 2027, alongside a portfolio of energy storage assets totaling around 25 GWh, with 6 GWh located in Israel [4]. - The two sites won in the tender represent 20% of the total capacity awarded, reinforcing Enlight's leadership in Israel's energy storage market, being the only company with a significant presence in both medium-voltage and high-voltage storage sectors [4]. Future Outlook - The projects are anticipated to reach commercial operation by 2028, contributing to energy security and job creation in southern Israel, while aligning with the broader vision of transitioning to renewable energy production [2][5].