<SEC-DOCUMENT>0001178913-24-003039.txt : 20240911
<SEC-HEADER>0001178913-24-003039.hdr.sgml : 20240911
<ACCEPTANCE-DATETIME>20240911060150
ACCESSION NUMBER:		0001178913-24-003039
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240911
FILED AS OF DATE:		20240911
DATE AS OF CHANGE:		20240911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Enlight Renewable Energy Ltd.
		CENTRAL INDEX KEY:			0001922641
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41613
		FILM NUMBER:		241291371

	BUSINESS ADDRESS:	
		STREET 1:		13 HAAMAL STREET
		STREET 2:		AFEK INDUSTRIAL PARK
		CITY:			ROSH HAAYIN
		STATE:			L3
		ZIP:			-
		BUSINESS PHONE:		972 (3) 900-8700

	MAIL ADDRESS:	
		STREET 1:		13 HAAMAL STREET
		STREET 2:		AFEK INDUSTRIAL PARK
		CITY:			ROSH HAAYIN
		STATE:			L3
		ZIP:			-
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2432030.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="text-align: center; line-height: 1.25; font-weight: bold;"><font style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-style: normal; font-variant: normal; text-transform: none;">UNITED STATES<br>
        SECURITIES AND EXCHANGE COMMISSION</font><br>
      Washington, D.C. 20549</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">FORM 6-K</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER<br>
      PURSUANT TO RULE 13A-16 OR 15D-16<br>
      UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">For the month of September 2024</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Commission File Number: 001-41613</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;"><font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Enlight Renewable Energy Ltd.</font><br>
      (Translation of registrant&#8217;s name into English)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">13 Amal St., Afek Industrial Park<br>
      Rosh Ha&#8217;ayin, Israel<br>
      + 972 (3) 900-8700<br>
      (Address of principal executive office)</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">Form 20-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</font> &#160; &#160; &#160;&#160; Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Announcement of Gradual Start of Commercial Operations at the Atrisco Solar and Energy Storage Project</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">Enlight Renewable Energy Ltd. (&#8220;Enlight&#8221; or the &#8220;Company&#8221;) announces the initial start of commercial operations at the Atrisco Solar and
      Energy Storage complex, owned by&#160;the Company through its subsidiary, Clenera Holdings LLC, located in New Mexico, USA (the &#8220;Atrisco Project&#8221;).</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">The Atrisco Project, with a capacity of 364 MW and 1.2 GWh., commenced&#160;initial commercial operations on September 10, 2024. Commercial operations at the Solar array are estimated to reach full COD in the next several weeks. The Energy Storage (BESS) complex is estimated to complete COD before
      year end. As previously disclosed, the Atrisco Project was built at a total cost of&#160;$827 million and total Project cost net of tax equity of $407 million1, and is
      expected to generate revenues of $51-55 million and EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> of $41-45 million in the first full year of operation.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">On September 11, 2024, Enlight issued a press release titled: &#8220;The Atrisco Solar &amp; Storage Project Has Commenced Commercial
      Operations&#8221;. A copy of the press release is furnished as Exhibit 99.1 herewith.</div>
    <br>
    <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
    <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> As previously disclosed, regarding Atrisco Solar, the tax equity partner, Bank of America, monetizes 90% of the PTCs, while
      the company is entitled to monetize the remaining 10%. The upfront tax equity payment to be received by the Company upon project full COD reflects approximately 75% of Bank of America&#8217;s share of the PTCs. The remaining 25% will be paid annually to
      the Company by Bank of America, based on actual production, over the initial 10 years of the Project&#8217;s operation.</div>
    <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> EBITDA is a non-IFRS financial measure. As previously disclosed, this figure represents consolidated EBITDA for the Atrisco
      Project and excludes all ITC and PTC proceeds. The tax equity partner&#8217;s share in the distributions is 19% for the energy storage component and 17.5% for the solar component, applicable for the first five and ten years of operation, respectively.</div>
    <div style="line-height: 1.25;"> <br>
    </div>
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    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">The information in this Report of Foreign Private Issuer on Form 6-K shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18 of the
      Securities Exchange Act, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-style: italic; font-weight: bold;">Non-IFRS Financial Measures</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">This Form 6-K presents EBITDA, a financial metric, which is not calculated in accordance with the International Financial Reporting
      Standards as issued by the International Accounting Standards Board (&#8220;IFRS&#8221;). Enlight is unable to provide a reconciliation of EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this non-IFRS
      financial measure are not within the Company&#8217;s control and/or cannot be reasonably predicted. These items may include, but are not limited to, forward-looking depreciation and amortization, finance income, finance expenses, share of losses of equity
      accounted investees and taxes on income. Such information may have a significant, and potentially unpredictable, impact on Enlight&#8217;s future financial results. Non-IFRS financial measures have limitations as analytical tools and should not be
      considered in isolation or as substitutes for financial information presented under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus comparable financial measures determined under IFRS. These
      limitations could reduce the usefulness of our non-IFRS financial measures as analytical tools.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-style: italic; font-weight: bold;">Special Note Regarding Forward-Looking Statements</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">This report on Form 6-K contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of
      1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
      as amended. All statements contained in this report on Form 6-K other than statements of historical fact, including, without limitation, statements regarding the Company&#8217;s expectations relating to the Atrisco solar and storage projects, operational
      timeline, as well as estimated revenues and EBITDA, are forward-looking statements. The words &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221; &#8220;seek,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221;
      &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;contemplate,&#8221; &#8220;possible,&#8221; &#8220;forecasts,&#8221; &#8220;aims&#8221; or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or
      expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any
      future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to
      successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits,
      including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to
      disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers&#8217; ability and willingness to perform both existing and future obligations;
      competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current
      offtake contracts expire; offtakers&#8217; ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts;
      various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to
      accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or
      reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other
      damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission
      system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow
      our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to
      effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and
      regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to
      existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use
      of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in
      Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively
      comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness
      of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential
      claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently
      operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location
      in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management&#8217;s attention with
      respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled &#8220;Risk factors&#8221; in our Annual
      Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;), as may be updated in our other documents filed with or furnished to the SEC.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">These statements reflect management&#8217;s current expectations regarding future events and operating performance and speak only as of the
      date of this Form 6-K. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of
      activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking
      statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.</div>
    <div style="line-height: 1.25">&#160;</div>
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    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">EXHIBIT INDEX</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">The following exhibit is furnished as part of this Form 6-K:</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zae34905a3ee24ce9a5a2abc9f9f7bbbb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div style="line-height: 1.25; font-weight: bold;"><u>Exhibit No.</u></div>
          </td>
          <td style="width: 87.16%; vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;"><u>Exhibit Description</u></div>
            <div style="line-height: 1.25; font-weight: bold;"><u> <br>
              </u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.84%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25; font-weight: bold;"><a href="exhibit_99-1.htm">99.1</a></div>
          </td>
          <td style="width: 87.16%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-1.htm">Press Release of
                Enlight Renewable Energy Ltd., dated September 11, 2024, titled: "The Atrisco Solar &amp; Storage Project Has Commenced Commercial Operations."</a></div>
          </td>
        </tr>

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            <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURES</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; line-height: 1.25;"> <br>
    </div>
    <div style="text-align: justify; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
      on its behalf by the undersigned, thereunto duly authorized.</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z37d02e05e6194f3d9d5f7eb249cf7033" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 50.03%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="line-height: 1.25; font-weight: bold;">Enlight Renewable Energy Ltd.</div>
            <div style="line-height: 1.25; font-weight: bold;"> <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50.03%; vertical-align: top;">
            <div style="line-height: 1.25;">Date: September 11, 2024</div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td style="width: 46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">/s/ Nir Yehuda</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50.03%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 46%; vertical-align: top;">
            <div style="line-height: 1.25;">Nir Yehuda</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50.03%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 46%; vertical-align: top;">
            <div style="line-height: 1.25;">Chief Financial Officer</div>
          </td>
        </tr>

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    </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;">
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 99.1</u></div>
    </div>
    <div style="text-align: center; line-height: 1.25;"><u> <br>
      </u></div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><u>The Atrisco Solar &amp; Storage Project Has Commenced Commercial Operations</u></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">TEL AVIV, Israel, September 11, 2024 &#8211;Enlight Renewable Energy (&#8220;Enlight&#8221;, "the Company&#8221;, NASDAQ: ENLT, TASE: ENLT.TA), a leading renewable
      energy platform, announces the initial start of commercial operations at its Atrisco Solar &amp; Energy Storage project (&#8220;Atrisco&#8221;, &#8220;the Project&#8221;) outside Albuquerque, New Mexico. The Project consists of 364 MW solar generation capacity and 1.2 GWh
      of energy storage capacity, and was developed and built by Enlight&#8217;s U.S. subsidiary Clenera.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">The Solar generation array is expected to reach full commercial operations over the next several weeks, and the Energy Storage (BESS)
      complex of the project is expected to complete COD before year end. The power produced at Atrisco is being purchased by the Public Service Company of New Mexico (PNM) under the terms of a 20-year power purchase agreement. The clean energy to be
      produced by the facility is equivalent to the average annual consumption of approximately 110,000 New Mexico households.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">Atrisco is the largest project built by Enlight both in terms of capacity and capital expenditure. During construction, the Project
      employed hundreds of engineers and skilled personnel. The Engineering, Procurement, and Construction contractor was RES Americas, and Miller Brothers is the operations and maintenance contractor. The project uses solar panels from Runergy, trackers
      from Array Technologies Inc, string inverters from Sungrow, and the energy storage system was supplied by Tesla.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">Atrisco was built at a total cost of $827 million and total Project cost net of tax equity of $407 million. The Project is expected to
      generate revenues of $51-55 million and EBITDA of $41-45 million in its first full year of operation. As previously reported, financial close on the Energy Storage portion was achieved in July 2024, and on the Solar portion in December 2023. In
      total, the Project has received $290 million in debt financing from consortiums of large American and international banks led by HSBC, and a total of $420 million from tax equity partners Bank of America and US Bank. In connection with the Energy
      Storage financing, which occurred on July 25, 2024, the Company recycled $234 million of equity back to its balance sheet. Enlight will provide $117 million of long-term net equity to the project.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">&#8220;Achieving the first phase of commercial operations at Atrisco is a major milestone,&#8221; said Clenera President and CEO Adam Pishl. &#8220;We have
      taken a brownfield site with little use and transformed it into a clean energy power plant. The low-cost, emission-free energy produced here will benefit generations of New Mexico residents and is the first of our future investments in the state.&#8221;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">&#8220;We are proud to see Clenera, our operational arm in the U.S., achieving the important milestone of Atrisco&#8217;s COD,&#8221; commented Gilad Yavetz,
      CEO of Enlight Renewable Energy. &#8220;Atrisco is a win-win venture for New Mexico&#8217;s economy, climate goals, and energy security, as well as for Enlight as a leading renewable energy developer and IPP. Atrisco&#8217;s electricity will be generated at an
      attractive price, reduce carbon emissions, and create economic development and employment opportunities for the broader region. Our additional clean energy projects in New Mexico and the Southwest &#8211; some being even larger than Atrisco &#8211; are at an
      advanced development stage. We look forward to commissioning these projects as well, further contributing to the region&#8217;s environmental wellbeing and economic prosperity.&#8221;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-weight: bold;">About Enlight Renewable Energy</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates
      across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE:
      ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-weight: bold;">Contacts:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">Yonah Weisz</div>
    <div style="line-height: 1.25;">Director IR</div>
    <div style="line-height: 1.25;">investors@enlightenergy.co.il</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">Erica Mannion or Mike Funari</div>
    <div style="line-height: 1.25;">Sapphire Investor Relations, LLC</div>
    <div style="line-height: 1.25;">+1 617 542 6180</div>
    <div style="line-height: 1.25;">investors@enlightenergy.co.il</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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    <div style="line-height: 1.25; font-weight: bold;">Cautionary Note Regarding Forward-Looking Statements</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We
      intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
      amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company&#8217;s expectations relating to the Project, the PPA and the related interconnection
      agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221; &#8220;seek,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221;
      &#8220;predict,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;contemplate,&#8221; &#8220;possible,&#8221; &#8220;forecasts,&#8221; &#8220;aims&#8221; or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words
      or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any
      future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to
      successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits,
      including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to
      disputes with contractors; our suppliers&#8217; ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for
      renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers&#8217; ability to terminate contracts or seek other remedies resulting from failure of our projects
      to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable
      meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment,
      energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind
      and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other
      developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a
      substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the
      expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to
      retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and
      security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy
      industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our
      ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with
      Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our
      subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims
      and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax
      laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and
      requirements of being a public company, including the diversion of management&#8217;s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of
      control; and other risk factors set forth in the section titled &#8220;Risk factors&#8221; in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) and our other documents filed
      with or furnished to the SEC.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">These statements reflect management&#8217;s current expectations regarding future events and speak only as of the date of this press release. You
      should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events
      and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of
      new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.</div>
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