Enlight Renewable Energy Ltd has secured financing for the 1.2-GWh battery storage component of its 364-MW Atrisco solar project in New Mexico. The total project is estimated to cost USD 827 million, with USD 290 million coming from term debt, USD 420 million from tax equity commitments, and USD 117 million from Enlight’s equity investment. The energy storage portion includes a USD 401 million deal with a group of lenders led by HSBC, which will convert to term loan and tax equity financing once the project is operational. The project, which includes Tesla’s battery energy storage technology, is set to be fully operational later this year and will be operated under a 20-year off-take agreement with Public Service Company of New Mexico under its long-term deal. Enlight plans to recycle USD 234 million of equity back to its balance sheet for future expansion.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
