April 17, 2025: Enlight Renewable Energy said on April 14 it had raised $1.5 billion in project finance, including financial close of $243 million in construction financing for a 128MW solar and 400MWh BESS in New Mexico.

Financing for its Quail Ranch project in New Mexico was secured through Enright’s’ US subsidiary Clenera Holdings.

Quail Ranch is scheduled for completion towards the end of this year. Offtake for both generation and storage is secured by a 20-year busbar power purchase agreement with the Public Service Company of New Mexico.

The project is an expansion of Atrisco, which started commercial operations in 2024. The shared infrastructure between the two sites accelerated Quail Ranch’s development and will reduce construction and operating costs, the company said.

Both projects are on a desert plateau at an elevation of 1,800 metres.

Tel Aviv-listed Enlight, founded in 2008, develops, finances, constructs, owns, and operates utility-scale renewable energy projects. The company operates in the US, Israel and 10 European countries.