Enlight has raised $350m through a mezzanine loan with Bank Leumi and $53m in tax equity for its Atrisco project in the United States.
The company said the transactions complete its 2025 financing plan for 4.8GW of new projects scheduled to connect by 2027.
Once operational, Enlight expects its capacity to reach 7.9GW, generating $1.4bn in annual revenues.
The mezzanine facility was secured on what the company described as optimal terms, with interest at SOFR plus 2.7%–3.2%, and will support growth across its US portfolio.
It is backed by five large-scale solar-plus-storage projects totalling 2.8GW, including Atrisco and Apex, which are already operational, and Quail Ranch, Roadrunner and Snowflake, which are under construction.
Enlight said the structure provides flexibility in repayment and includes a limited parent guarantee covering around 30% of commitments.
Atrisco, which features 360MW of solar and 1200MW of storage, also secured an additional $53m in tax equity investment linked to the domestic content adder.
The company said this is expected to generate $41m in pre-tax profit spread over five years and improve the project’s equity returns.
Enlight chief executive Gilad Yavetz said: “The combined financing initiatives we recently completed in the US, across senior debt, mezzanine, and tax equity, highlight Enlight’s competitive advantage in financing its activities – low cost and broad access to capital by delivering higher returns and lower risk.”
Bank Leumi head of corporate division Liat Shuv said the bank is “proud to be at the forefront of renewable energy financing in Israel” and committed to supporting Enlight’s growth.