Enlight Renewable Energy Ltd. announced on April 14, 2025, the financial close for its Quail Ranch project, located near Albuquerque, New Mexico. The company secured $243 million in construction financing commitments for the project, which combines 128 MW of solar generation with 400 MWh of battery storage capacity.
Quail Ranch is scheduled for completion towards the end of 2025 and has a 20-year busbar PPA with the Public Service Company of New Mexico (PNM) for both generation and storage volumes. The project is an expansion of the Atrisco facility, leveraging shared infrastructure to accelerate development and reduce costs.
This financial close marks the third significant funding package secured by Enlight in the U.S. within four months, totaling $1.5 billion for the Roadrunner, Country Acres, and Quail Ranch projects. These three projects collectively represent 1.4 FGW of capacity and are expected to generate annual revenues of $135-140 million and EBITDA of $100-110 million upon commencing operations in 2025-2026.
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