Enlight Renewable Energy announced on September 29, 2025, that its U.S. subsidiary, Clēnera Holdings, has closed two tax equity partnership agreements for the Roadrunner Solar and Energy Storage Project in Arizona. These agreements secure approximately $340 million in tax equity commitments at the commercial operation date (COD), expected to increase to nearly $390 million with pay-go contributions.
The first agreement, with J.P. Morgan Chase Bank, N.A., covers the project’s 290 MW solar component, including a tax equity contribution at COD and additional pay-go payments over the first 10 years. The second agreement, with M&T Bank and First Citizens Bank, provides tax equity financing for the 940 MWh storage component at COD.
The Roadrunner project, with a total investment of $621 million, has initiated production of test energy for its solar component and is expected to achieve full commercial operation by the end of 2025. Once operational, it is projected to generate annual revenues exceeding $50 million and approximately $40 million in EBITDA in its first full operating year.
The project is expected to benefit from Production Tax Credits (PTC) for its solar component and Investment Tax Credits (ITC) for its storage component, and is anticipated to qualify for the 10% Energy Community Adder. Roadrunner is backed by a 20-year busbar power purchase agreement with the Arizona Electric Power Cooperative, ensuring long-term, stable revenues for Enlight.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.