Solar and battery storage developer from the United States, Clēnera, has been acquired by Enlight Renewable Energy; a Tel Aviv-based company that is one of Israeli’s top leaders in the green energy field.
Firstly, the Israeli company announced the acquisition this Tuesday. The transaction was for the 90,1 per cent of the holdings of the American company; which is a leading and seasoned company in the field of initiation, development; also, construction and operation of solar and battery storage projects in the United States.
Secondly, the acquisition consideration includes initial payments of US$ 158 million; and also, performance-based installments of up to US$ 232 million; which will be payable until 2025, depending on the percentage of completion of the projects.
Thirdly, after the acquisition, Enlight will significantly expand its portfolio in the solar and battery storage field; to a total of 16,8 GWdc and 7,5 GWh of energy storage.
Moreover, Clenera is developing a wide development portfolio over a wide geographical area; across 20 states in the United States. It also has expertise and first-mover advantage in markets with significant growth potential in the United States’ Midwest; and in other Eastern states.
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Clēnera with a solar and battery storage portfolio of more than 50 projects
Consequently, the portfolio from Clenera included in the transaction, comprises of approximately 50 large-scale solar projects in various stages of development; with a capacity of 12 GWdc, including projects that combine energy storage of 5.5 GWh.
In addition, about the relevance of the transaction, Gilad Yavetz, CEO of Enlight, said. “We are very proud to complete Clēnera’s acquisition according to the planned schedule and to quickly achieve all required regulatory approvals.”
The executive also remarked. “We believe that the combination of the core capabilities, the experience; also, the track record and the portfolio of both companies, will generate a leading global renewable energy entity.”
Finally, Enlight operates in Israel and Europe, with a diversified portfolio of income-producing projects; projects under construction and pre-construction, with production capacity of 2,000 MW and additional 2,800 MW in various stages of development.
