Enlight Renewable Energy (ENLT) said Monday it has raised $243 million in construction financing for the Quail Ranch project near Albuquerque, New Mexico, through its Clenera Holdings unit.
The company intends to complete the project, which combines 128 megawatts of solar generation with 400 megawatt-hour of battery storage capacity, towards the end of this year, it added.
Enlight Renewable said it has secured offtake for both generation and storage volumes by a 20-year busbar power purchase agreement with the state's Public Service Company.
The renewable energy projects company said it raised the financing through BNP Paribas Securities Corp., Credit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale.
Shares of the company were up 0.2% in recent Monday trading.
Price: 14.90, Change: +0.03, Percent Change: +0.17
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.