Enlight Subsidiary Clenera Partners with SMUD on Country Acres Solar and Storage Project in California

BOISE, Idaho, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Enlight Renewable Energy Ltd. (“Enlight”, NASDAQ: ENLT, TASE: ENLT.TA), today announced that Country Acres Clean Power LLC (“Country Acres” or the “Project”), an affiliate of its subsidiary Clenera Holdings LLC, has entered into certain agreements in connection with a new project under development located in Placer County, California (the “Project”). The Project is expected to have an installed capacity of 392 MWdc / 344MWac of solar energy and 688 MWh of energy storage.

The agreements include a busbar power purchase agreement (“PPA”) with the Sacramento Municipal Utility District (“SMUD”), a municipal electric utility serving Sacramento County and parts of Placer County, California. Under the PPA, Country Acres will sell the solar energy produced by the facility for a 30-year term and energy storage for a 20-year term. In addition to the executed PPA, Country Acres has also entered into an interconnection agreement with SMUD. Upon completion of the required permits, construction is expected to begin in 2024, with commercial operations commencing in 2026.

The Project is expected to provide zero carbon electricity to approximately 80,000 homes annually. In addition, a key feature of the project is an agrivoltaic pilot program, whereby the Project site will be jointly developed for both solar and agriculture to benefit surrounding properties.

“We are excited to work with an excellent partner in SMUD, a leader in providing affordable, clean energy to California residents that is highly regarded for its environmental stewardship. This project, which now enters our Mature Portfolio substantially derisked, and highlights the strong demand for solar and storage across our offtaker base,” said Jason Ellsworth, CEO at Clenera.

“This Project, which represents our first project in California since acquiring Clenera, further strengthens our market leadership in the Western U.S and adds to our Mature Portfolio, while demonstrating visibility through 2026 via the conversion of our high-quality pipeline,” said Gilad Yavetz, CEO of Enlight.

About SMUD

As the nation’s sixth-largest, community-owned, not-for-profit electric service provider, SMUD has been providing low-cost, reliable electricity to Sacramento County for more than 75 years. SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies and for its sustainable solutions for a healthier environment. Today, SMUD’s power supply is on average about 50 percent carbon free and SMUD has a goal to reach zero carbon in its electricity production by 2030. For more information on SMUD’s Zero Carbon Plan and its customer programs, visit smud.org.