Enlight Renewable (ENLT) Energy announces the completion of commissioning its flagship Atrisco Solar & Energy Storage project outside Albuquerque, New Mexico, following COD at the Energy Storage portion of the Project. Subsequent to the announcement of the Solar generation component’s initial COD, the unit reached full COD in October 2024. In parallel, the Energy Storage unit of the Project began commissioning and reached full COD on November 27, 2024, completing the commissioning of the entire Solar and Energy Storage complex. All the operational requirements of the financial close reported on July 29, 2024 have been met, and on December 13, 2024, the construction financing was converted into a term loan and tax equity proceeds were received. As a result of saving on construction costs, the final total project cost has decreased by approximately $20M to $809M, and the final total project cost net of tax equity has decreased by approximately $10M to $397M. The Atrisco Solar & Storage project consists of 364 MW solar generation and 1.2 GWh of energy storage capacity, and possesses a 20-year busbar power purchase agreement for its entire output with the Public Service Company of New Mexico. The Project is expected to generate revenues of $51M-55M and EBITDA of $41M-45M in its first full year of operation.
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