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 Insights - Enlight Renewable Energy has secured bids for two energy storage facilities in Israel, marking a significant achievement in the renewable energy sector [1][4] - The projects will enhance the company's capacity and revenue potential while contributing to Israel's energy security and job creation [5][3] Group 1: Project Details - The two facilities, Neot Smadar and Ohad, have a combined grid connection capacity of 300 MW AC, allowing for a total storage capacity of 1,300 MWh, potentially increasing to 1,900 MWh [2][4] - The construction cost for the facilities is estimated between $210-250 million, with expected average annual revenues of$75-85 million and average annual EBITDA of $37-42 million over their lifespan [3][4] Group 2: Market Position and Future Outlook - Enlight holds approximately 8 GWh of mature storage projects expected to be operational by 2027, with a total portfolio of around 25 GWh in various development stages [4] - The two sites represent 20% of the total capacity awarded in the Israel Electricity Authority's tender, reinforcing Enlight's leadership in Israel's energy storage market [4][5]