What powers the future of clean energy? Beyond technology and innovation, it’s often the right financial backing. Enlight Renewable Energy, a global renewable developer headquartered in Israel, has just secured $350 million in mezzanine financing from Bank Leumi to advance its solar and storage projects in the United States. This long-term funding package is poised to strengthen Enlight’s ability to deliver nearly 2 GW of clean power capacity currently under construction.

The financing, structured as a 19-year mini-perm loan maturing in 2032, carries interest at SOFR plus 2.7%–3.2% and includes flexible prepayment options. Of the $350 million total, $160 million is immediately available, while the remaining $190 million will be unlocked following Snowflake A’s senior debt close in late 2025. The deal also includes a limited parent guarantee, covering up to 30% of the aggregate loan, ensuring balance sheet strength while supporting large-scale project delivery. By structuring the loan this way, Enlight ensures both near-term liquidity and long-term stability across its US portfolio.

The proceeds will directly fund the construction of Enlight’s utility-scale solar and storage projects, including Roadrunner and Snowflake A in Arizona. These projects, part of a wider 1,953 MW development pipeline, are expected to play a crucial role in strengthening the independent power market. With Atrisco and Apex already operational, and Quail Ranch, Roadrunner, and Snowflake A moving forward, Enlight’s US subsidiary Clenera Holdings LLC is firmly positioned to deliver reliable, large-scale clean energy to the grid. The inclusion of co-located storage makes these projects even more vital, enhancing grid flexibility while ensuring renewable energy is available when demand peaks.

This financing signals confidence in Enlight’s ability to deliver projects at scale while balancing financial prudence with technological ambition. By committing over $350 million, Bank Leumi is not only supporting Enlight but also reinforcing the financial pathways that make renewable growth possible. For communities across Arizona and beyond, these projects will bring cleaner power, stronger grid resilience, and tangible economic opportunities. With nearly $2 billion in capital investment represented by its US pipeline, Enlight is accelerating the energy transition and proving that innovative financing models are key to unlocking large-scale renewable deployment.

Enlight’s latest milestone demonstrates how the right blend of capital and vision can fast-track America’s shift toward a sustainable, storage-backed solar future.

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