Enlight Renewable Energy Ltd has agreed to acquire a 51–60% stake in the Jupiter project in Brandenburg, Germany, buying control from Prime Green Energy Infrastructure Fund II. The asset is a large, co-located solar PV + BESS project on a 145-hectare former military airfield, with PGEIF II retaining a minority position.

The key insight is control over a load-anchored hybrid asset. Jupiter’s output is contracted to supply a planned 500 MW on-site data center, shifting the project from merchant exposure to demand-linked execution. This is not about scale alone; it is about who controls dispatch, storage optimization, and pricing against a known load.

The project targets up to 150 MWp of solar and 500 MW / 2,000 MWh of BESS under a single 380 kV grid connection operated by 50Hertz. Total investment is estimated at €470–500 million ($557.66–593.26 million), with Ready-to-Build expected by late 2026 and construction starting 2026–27.

Financially, projected average revenue of €85–90 million in the first 5 years and €70–80 million EBITDA reflects storage-led value capture, not just generation yield. Co-locating storage with a dedicated offtaker reduces curtailment risk and improves capital efficiency per connection point.

Enlight’s separate €50 million ($59.33 million) commitment to PGEIF II, alongside co-investment rights across Western and Northern Europe, signals a repeatable strategy: minority capital at fund level, majority control at asset level, and exposure to large, power-hungry loads driving predictable returns.

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