Overview

• Clēnera closed separate partnerships: J.P. Morgan for the 290 MW solar array and M&T Bank with First Citizens for the 940 MWh battery system.
• The agreements provide about $340 million at commercial operation, rising to nearly $390 million with pay-go contributions.
• The project near Tucson has begun producing test energy and targets full commercial operation by the end of 2025.
• Enlight expects PTC treatment for solar, ITC for storage, and eligibility for the 10% Energy Community adder.
• The $621 million development is backed by Arizona Electric Power Cooperative and is projected to generate over $50 million in first-year revenue with roughly $40 million in EBITDA.