Enlight Renewable Energy reported its financial results for the second quarter ended June 30, 2025, on August 6, 2025. The company achieved total revenues and income of $135 million, representing a 53% increase year-over-year from $88 million in Q2 2024. Adjusted EBITDA for the quarter grew by 57% to $96 million, compared to $61 million in the prior year.
Net income for Q2 2025 was $6 million, a 41% decrease year-over-year. However, when adjusted for a non-cash accounting reduction of $12 million due to foreign exchange differentials, net income amounted to $16 million, marking a 110% increase from $7 million in the same quarter last year. Revenues from electricity sales rose 37% to $116 million, and income from tax benefits increased 478% to $19 million.
Following these results, Enlight raised its full-year 2025 guidance for revenues and income to a range of $520-$535 million, up from $490-$510 million. Adjusted EBITDA guidance was also increased to $385-$400 million, from $360-$380 million. These revisions represent a 5.5% and 6% increase, respectively, at the midpoint compared to previous guidance.
Operationally, 525 MW and 1,604 MWh of new projects were connected to the grid since Q2 2024, including units from the Israel Solar and Storage Cluster, Atrisco in the U.S., Pupin in Serbia, and Tapolca in Hungary. These new projects contributed $30 million to electricity sales revenue, with Atrisco adding $13 million and the Israel Solar and Storage Cluster adding $12 million.
Enlight also announced executive leadership changes, with Adi Leviatan appointed as CEO and Gilad Yavetz transitioning to Executive Chairman, effective October 1, 2025. The company's total portfolio expanded to 35.3 FGW, an increase of 17% from the end of 2024, and it targets an annual revenue run rate of $1.9-2.2 billion by the end of 2028.
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