Enlight secures $773M construction financing for PV hybrid project

Construction financing of $773M was secured by Enlight and Clenera for the 403 MW Country Acres project under PPA with Sacramento Municipal Utility District, California.

By Karthik Srivasthav G 31 Mar 2025 | Updated On 31 Mar 2025 22:00 IST in Project Bytes America Bytes

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Country Acres has secured a 30-year solar and 20-year storage PPA with SMUD, covering 403 MW generation and 688 MWh storage. Image Source: Enlight Renewable Energy

Israel-based solar and storage developer Enlight Renewable Energy Ltd. has secured $773 million in construction debt financing for the Country Acres project through its US subsidiary, Clenera Holdings LLC. The financing was arranged by BNP Paribas, Crédit Agricole, Natixis, and Nord/LB, and is expected to convert into a $376 million term loan upon commercial operation. The project is located in California and includes 403 MW of solar generation and 688 MWh of storage across a 966-acre site. Enlight said that a 30-year solar and 20-year storage busbar PPA has been signed with the Sacramento Municipal Utility District (SMUD). Construction is underway, all procurement contracts have been finalized, and a tax equity transaction is anticipated during the construction phase. Full commercial operation is scheduled for the second half of 2026.

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Country Acres builds on Enlight’s US portfolio, with Snowflake and CO Bar set to add over 1.8 GW in new capacity. Image Source: SOLARbytes

#California #SMUD #Financing #EnlightRenewableEnergy

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