Clēnera Holdings, subsidiary of Enlight Renewable Energy, has secured a debt financing framework agreement for the CO Bar Complex in Arizona, US. The complex represents a total investment of $2.9-$3.05 billion, supported by $1.705 billion in term debt and expected tax equity proceeds of $1.45-$1.53 billion. Financing commitments totaling approximately $2.6 billion were provided by BNP Paribas Securities Corp., Crédit Agricole CIB, MUFG Bank, Ltd., Natixis, New York Branch, Norddeutsche Landesbank Girozentrale, New York Branch, Societe Generale, and Wells Fargo Securities, LLC.
The complex features a 1.2 GW solar and 4 GWh battery storage portfolio. CO Bar 1 is a hybrid solar-plus-storage project, CO Bar 2 and 3 are solar projects, and CO Bar 4 and 5 are standalone battery storage projects, with construction of all five expected to be fully mobilised by the second half of 2026. Commercial operations for the complex are expected to commence in phases between the second half of 2027 and the first half of 2028. The complex is fully contracted under five long-term offtake agreements with Salt River Project and Arizona Public Service.
In May 2026, Enlight Renewable Energy signed a 15-year physical power purchase agreement with Google for solar energy supply in Oklahoma. The agreement will deliver 200 MWac of solar power from the Solstice solar project to the Southwest Power Pool market. The renewable energy generated from Solstice will support Google’s regional data center operations. Solstice is being developed by Enlight’s U.S. subsidiary, Clēnera Holdings. The project is expected to begin construction in 2028 and will commence commercial operations in 2029.
