The renewable energy company Enlight beats the forecasts, the stock soared

Enlight also reports significant progress in its other projects in the US and Europe. The company predicts an additional 32% growth in its revenues in 2026. At the end of 2028, Enlight plans to grow threefold and reach an annual revenue rate of $2 billion.

In terms of financial results, Enlight brought in $582 million in 2025, a 46% increase over last year, and above the range of $555-565 million that it predicted it could achieve this year. The adjusted EBITDA also jumped 51% to 438 million dollars in 2025, above the forecast of 405-415 million dollars, thanks in part to the sale of 7% to institutions from the Sunlight project in Shefala that it owns.

This also led to a jump in net profit in 2025, an increase of 142% to $161 million. $80 million of net profit is attributed to the Sunlight deal in question, but even without it – Enlight’s net profit is much higher than its $66 million in 2024. Very similar results can also be seen when looking at the fourth quarter separately.

The US market is thirsty for energy

The increase in Enlight’s income is due in part to several projects it has completed and has already put into operation: Quail Ranch in New Mexico and Road Runner in Arizona, which have a combined power of 426 megawatts and a storage capacity of 1,340 megawatt-hours.

Enlight measures its solar capacity in adjusted gigawatts (FGW), which is the installed generation capacity divided by 3.5 of the storage capacity. The 0.8 FGW in these projects is double its yielding backlog in the US.

In general, the American market is considered especially thirsty for energy today, due to the wave of server farms that are now being established across the US, which has resulted in particularly extreme energy prices, which solar energy can meet relatively quickly.

Further in the southwest of the USA, Enlight is establishing its flagship CO Bar project in Arizona, which will reach a yield backlog of 2.4 FGW, i.e. three times more than the aforementioned projects. The project is in various stages of construction, and its initial operation is expected between the first half of 2027 and the second half of 2028.

The US is Enlight’s fastest-growing market, and it has quadrupled its revenue in that market over the past year. The company is rushing to complete its projects there before the tax breaks for renewable energy are eliminated, according to the Trump administration’s plan.

Expands operations in Europe as well

In Europe, Enlight acquires projects in early stages in Germany and Poland and expands operations in other European countries as well. This is part of Europe’s trend to switch to renewable energies as quickly as possible, with targets of between 50% and 75% in the markets where Enlight operates.

As far as Enlight is concerned, its truly biggest assets are those that have not yet been realized: while Enlight owns 3.9 FGW of generating facilities and 11.4 FGW including those under construction or nearing completion, the total projects it initiates add up to 38 FGW, a whole order of magnitude more than the facilities that are already generating.

Not all facilities will reach the finish line, of course, but many of them are progressing: this year, significant projects in the US, Morocco, Hungary and Israel have reached advanced development, and projects in the US and Israel have reached the stage towards construction.

In 2026, Enlight plans to finally connect projects to the extent of 1.1 GW and expand its activity in the field of server farms, a significant move that Enlight has not yet detailed in this report.