The Clēnera LLC project in Los Banos, CA
Enlight Renewable Energy has received all of the necessary regulatory approvals to acquire 90.1% of the shares in Clēnera LLC, a company that initiates, develops, builds and operates solar energy and US energy storage projects.
Clēnera's development portfolio currently comprises 20 states with around 50 large-scale solar projects in various stages of development with a capacity of 12 GWdc, including projects with combined energy storage of 5.5 GWh.
The purchase price consists of initial payments of $ 158 million and performance-based payments of up to $ 232 million, payable by 2025, depending on the degree of completion of the projects. The completion of the transaction significantly expands Enlight's portfolio to 16.8 GWdc and 7.5 GWh energy storage.
“We are very proud to complete the acquisition of Clēnera on schedule and quickly obtain all necessary regulatory approvals,” said Gilad Yavetz, CEO of Enlight. “We believe that the combination of the core competencies, experience, track record and portfolio of both companies will create a global leader in renewable energy.”