Enlight revenue jumps 54% as storage portfolio reaches 69 GWh

Enlight Renewable Energy 9NASDAQ:ENLT) delivered a high-growth first quarter, reporting a 54% increase in total revenues and income as the company aggressively scales its combined solar and storage portfolio across the United States, Europe, and the Middle East.

The Tel Aviv-based renewable energy leader reported total revenues and income of $200 million for the quarter ended March 31, 2026, up from $130 million in the prior-year period.

Net income for the quarter stood at $38 million; while lower than the $102 million reported in Q1 2025, management noted that the previous year’s results were skewed by a one-time $81 million gain from the sale of a stake in the Sunlight cluster.

Excluding that gain, net income rose approximately 76% year-over-year.

Adjusted EBITDA grew to $154 million, supported by strong operational performance and a $12 million gain from a follow-on stake sale in the Sunlight project.

Cash flow from operations also saw a significant boost, rising 58% to $100 million.

The company’s total portfolio expanded to approximately 41.25 "Fractal Gigawatts" (FGW), comprising 21.5 GW of generation and a rapidly growing 69 GWh of energy storage.

In the U.S., Enlight achieved major milestones with several key projects passing critical system impact studies, while in Israel, the company continues to lead the nascent agrivoltaics sector.

To fund this capital-intensive expansion, Enlight raised approximately $740 million in the first quarter.

This included $422 million from a strategic share issuance and the remainder through project-level financing and targeted asset recycling.

Management emphasized that its current liquidity position and credit facilities are sufficient to support its 2028 growth plan without requiring further external equity.

Looking ahead, Enlight reaffirmed its full-year 2026 guidance, projecting total revenues and income between $755 million and $785 million and adjusted EBITDA in the range of $545 million to $565 million.

This outlook assumes a 32% year-over-year revenue increase, driven by the commissioning of major projects in the western United States and the continued rollout of storage-plus-solar clusters in Israel.