0001178913-26-002776
SEC filingEnlight Renewable Energy Ltd. held an investor meeting on May 19, 2026, presenting its growth strategy, including data center development and agrivoltaics, with a target of over $2.1 billion in annual recurring revenue by 2028.
On May 19, 2026, Enlight Renewable Energy Ltd. held an investor meeting and released a presentation detailing its strategic growth drivers and financial targets. The company outlined a roadmap to achieve an annual recurring revenue (ARR) run rate exceeding $2.1 billion by year-end 2028, up from approximately $0.8 billion in December 2025, representing a compound annual growth rate of approximately 19%. Global operating capacity, measured in Factored GW (FGW), is expected to grow from 3.9 FGW in December 2025 to 12-13 FGW by December 2028, a CAGR of approximately 15%. The company expects an Adjusted EBITDA margin of approximately 70%-80% (including tax benefits) for the years shown.
The presentation highlighted several growth engines. In the U.S., the Clēnera acquisition is cited as a success story, with its portfolio growing from approximately $20 million ARR in 2021 to an expected $1.3-1.4 billion by 2028. The U.S. portfolio totals 27.5 FGW, with 1.6 FGW operational, 3.4 FGW under construction, and 1.5 FGW in pre-construction. Key projects include the CO Bar complex in Arizona (2,353 FMW, in construction, COD 2H 2027-1H 2028) and the Roadrunner project (567 FMW, operational December 2025). The company has financed $6.8 billion for 5.9 FGW capacity with project finance and tax equity partners from 2022-2026.
Enlight is also pursuing data center development, leveraging its generation and storage assets. It is developing projects with billions in planned investments, including a flagship project in Ashalim, Israel (~160 MWIT, COD expected as early as 2029), an option for ~400 MWIT adjacent to a storage project in Germany, and a collaboration for two data centers totaling ~485 MWIT in the U.S. In Israel, the company is advancing agrivoltaics, with a pipeline of ~3.5 GW across 100 projects. The first 15 agro-solar field crop projects are expected to reach commercial operation by 2028. The presentation emphasizes the company's execution capabilities, including an integrated end-to-end platform, data-driven asset management, and a unified supervisory control and data system.